Storm Fox
Trying the find the next noun to verb
Are you saying it's no good or too complicated for business-to-business use and only good for person-to-person use? But most people who are in a position to exchange things trust each other enough not to need formal contracts. Plus there is even more scope for unforeseen circumstances.On a general forum such as this, do you expect us to start at the deep end explaining all of this, or in it's simplist forms?
If we are advocating blokchain technology to normal run of the mill people, then we're not going to show them out enterprises use blockchain, we are going to show them how people would.
So getting back to what regular people would use them for, what anyone who is all for postive social change would like them to use it for, is DAOs that would functional a lot like an unincorporated association.
In those scenarios there would not be legal agreements left right and centre.
Oh an even in the enterprise setups, it cuts down on the legal paperwork.
Alice has a smart contract to lend Bob fifty quid until the end of the week. Bob's oven stops working Thursday night. Come Friday morning With a Smart Contract, Bob is now Fifty quid in a hole plus needs a new oven. In the real world, Bob would phone Alice, Alice would defer the loan until Bob has his oven and would probably help him find one.