The only place in the law that could use blockchain technology is land records, and even that doesn't make all that much sense given that what you really need is a *centralized* database, not a decentralized network.
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Blockchain is an elaborate work-around for a *very specific problem*: verifying irreversible transfers of value without a centralized authority. In other words, it's a computationally burdensome way to hate the government.
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Almost everything that is supposedly going to get solved with blockchain can be solved with some kind of version control hosted on a central server.
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* except for the drugs, the scams, the tax evasion, and payment-blockade-circumvention. I acknowledge that those are valid use case scenarios for bitcoin
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90% of the people who are dazzled by "crypto" right now absolutely do not understand the core technological premise of any of this shit. It's an interesting innovation with an *extremely limited* ability to actually effect any positive change in the world
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I mostly agree but I don’t think the touted benefits come from reduced litigation costs. It’s about shifting the burden of lawsuit
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No, that's what regular old contracts are for.
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You still have to sue to enforce those
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I think this post by
@eiaine describes a decent example of how burden of lawsuit mattershttps://elaineou.com/2017/09/10/r3-should-have-used-a-smart-contract/ … -
I'm not seeing what couldn't be done there with a traditional contract? There are plenty of existing mechanisms to transfer ownership at a variety of points during the lifetime of the contractual relationship.
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existing mechanisms to transfer ownership rely on the counterparty to take affirmative steps to transfer ownership. you can avoid that reliance by using an escrow service, which a smart contract automates.
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Right. There are also scenarios that can’t be defined in terms of simple prepayments, such as options
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As an engineering manager, I found time and time again that it was extremely difficult to convince engineers that law does not work like code.
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And that’s effectively by design. Nuance and judgement, not really binary decisions.
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Exactly. Law run by code would be a nightmare.
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Anyone who is into smart contracts needs to sit through a week of small claims court and honestly answer: Which of these cases would smart contracts have prevented? Answer: Maybe one.
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Le chargement semble prendre du temps.
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