> dude: it's the first time in human history where third parties are > neither required for contracts to be ATOMICALLY binding. i'm not sure > if you grasp the full significance of that. > > prior to blockchain and hashgraph and so on the only way to guarantee > that a contract was honoured is to (a) trust each party in the > contract and (b) if there is a dispute trust a THIRD PARTY. > > entire power structures have built up over millenia based around that > and THIS IS THE FIRST TIME THE POWER TO NEGOTIATE CONTRACTS IS TRULY > DECENTRALISED.
Well, sort of. The actual exchange of currency doesn't involve a third party, and in the case of e.g. Ethereum there's a lot of interesting stuff you can do within the network. But for most real-world contracts you need information from outside the network about whether one party actually fulfilled its obligations, and then you're back to the messy realities of human trust. _______________________________________________ arm-netbook mailing list arm-netbook@lists.phcomp.co.uk http://lists.phcomp.co.uk/mailman/listinfo/arm-netbook Send large attachments to arm-netb...@files.phcomp.co.uk
