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@NickSzabo4@socrates1024@jgarzik Alice captures her contract with crypto. She enforces with wet institutions. Working together, aligned. -
@iang_fc@socrates1024@jgarzik There is no magic world government for enforcing global wet contracts. Burden of lawsuit usually too high. -
@NickSzabo4@socrates1024@jgarzik Right. This is not provided by 'others'. This is our problem. If we want it, we build it. -
@iang_fc@socrates1024@jgarzik Crypto engrs build stuff that runs on computers, not on brains. Latter is law, markerting, design, etc. -
@iang_fc@socrates1024@jgarzik Wet stuff: law, marketing, design, etc. is expensive and insecure. PKI based on it is same.
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@iang_fc@socrates1024@jgarzik Exponentially cheaper & more secure to perform financial terms with smart K on block chain.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@NickSzabo4@socrates1024@jgarzik eg, CAcert has dispute resolution with own arbitrators up to euros 1000 worldwide. And it does crypto ;) -
@iang_fc@NickSzabo4@jgarzik PayPal has "dispute resolution" that rubber stamps in favor of buyer without investigation -
@socrates1024@iang_fc@jgarzik Algorithm simple enough to be understood by consumer & computer both, but produces harsh results. -
@NickSzabo4@socrates1024@jgarzik PayPal? Hack, spit. Any corp can create a tool to stamp on their customers. Don't blame the tool.
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