Toxic Elephant

Don't bury it in your back yard!

Current thoughts on smart contracts

Posted by matijs 31/07/2017 at 13h50

  • Writing a contract such that the law is powerless to reverse it is anti-democratic. Libertarians will probably love it, but in canceling out the ‘oppressive’ state it also cancels any protections offered by the state.
  • Trust is a fundamental basis of human interaction. Creating a trustless way of cooperating allows agents to not be held accountable for actions performed outside the contract.
  • Instead of the lame excuse ‘the law allows me to be an asshole’, we’ll get ‘the smart contract allows me to be an asshole’.

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