Open law video

[Anonymous No.10623746]

What is the point of decentralization and a blockchain if an employer can stop the smart contract

[Anonymous No.10623753]

Post link to video.

[Anonymous No.10623758]

>>10623753
https://m.youtube.com/watch?v=YhSyaPE29W0

[Boat Anon No.10623775]

>>10623746
Surely you need to sign up to those conditions?

If you don’t want those conditions, sign up to those conditions?

[Boat Anon No.10623781]

>>10623775
Aww fuck I’m drunk. You get what I mean though.

[Anonymous No.10623791]

>>10623746
it's almost like an immutable database is not a good thing

[Anonymous No.10623802]

>>10623746
>What is the point of having cars if I have to stop at lights and can't go at the max speed at all times
>Why don't I just walk everywhere

[Anonymous No.10623813]

>>10623746

lol there's no point. The point of decentralization and blockchain is being "trustless". you need to trust the employer to not stop the contract. thus this shit is useless an there's no reason its on the blockchain and can just be hosted on a normal sql server.

[Anonymous No.10623815]

>>10623802
You could at least list some benefits of doing it through a pointless process vs a centralized database

[Anonymous No.10623834]

>>10623802
nigger. whats the point of doing this "decentralized" and "over the blockchain" then ?? you can't this shit just be hosted on a normal server instead ? i mean they're not using the features of the blockchain (immutable, unchangeable, controlled by no one, etc)

[Anonymous No.10623847]

>>10623815
prolly a noob

[Anonymous No.10623884]

>>10623813

an sql server would need software running for it, and given how the industry works it would all be proprietary. I've worked with government standards that get shopped out to vendors to write to and fuck me is it a giant goddamn mess.

an open source standardly used oracle network is going to be mandatory before we see legal smart contracts come online. the industry won't put in the work for fragmented proprietary networks/software stacks, its what they already have. they'll put in the work for a consortium advocated network with integration suites that makes it easy to take their boilerplate legal contracts and make them smart backed by a network they've deemed reliable.

[Anonymous No.10623889]

>>10623815
>>10623834
>Immutable and unchangeable
Sure
>Controlled by no one
Not true.

Being able to stop a smart contract is fine. Everyone knows you did it and the legal consequences can be easily laid at you feet and the nature and all the details of the contract that you stopped are still available to everyone.

Being controlled by nobody isn't actually a concern. It is just being sure that when something happens to the contract the exact person and method is known.

[Anonymous No.10623965]

>>10623884
i see where you're comming from but im pretty sure a server of any kind is 1000% better than a slow chain with tx fees and gets clogged up by kittens. not that reliable if you ask me. not at this state.

>>10623889

"Being able to stop a smart contract is fine. Everyone knows you did it and the legal consequences can be easily laid at you feet and the nature and all the details of the contract that you stopped are still available to everyone.
"

why do you have to store it on the blockchain then ? why can't you just do a normal contract? what problem do we sole ? normal contracts work just fine. to me it seems like they're jumping on the crypto-blockchain bandwagon.

[Anonymous No.10624023]

>>10623965
>Why not just do a normal contract
A normal contract can't be automated to execute trustlessly and provably to any third party. Public or rather private but still audit-able blockchains provide an easy way for third parties and other lawyers to evaluate contracts and executions. Speed is not on the side of blockchain right now but automating legal contracts is big right now even outside of crypto.

Cover your ass is the main motto of pretty much everyone related to the law field. Being able to prove beyond a reasonable doubt and easily when and how a contract was executed and the circumstances which caused it is massive.

Speed isn't the problem for actually replacing lawyers. As even the slowest TX is going to beat the time it takes a lawyer to do the work and it will be for a fraction of the cost.

[Anonymous No.10624041]

>>10624023
I guess you have a point there. Thanks, i learned something.

[Anonymous No.10624093]

>>10624041
Always happy to help.

[Anonymous No.10624135]

>>10624093
Still not seeing why this couldn’t be done on a centralized database

[Anonymous No.10624172]

>>10623965

normal contracts require lawyers at ludicrous hourly rates to execute. also Ethereum doesn't process Chainlink requests, the nodes do. nodes are just any VM running as a node so they'd be just as fast a server... because that's what they are. Ethereum is only used for tracking token holders and used by dApps/smart contracts that opt to use Ethereum. they're welcome to use a competing chain that's faster for their smart contracts if they'd prefer, but they still need a standard interface for it to use.

[Anonymous No.10624185]

>>10624135
Dude you're missing the biggest feature that this smart contract is providing which is getting paid every minute, hour or day automatically. The contract can be stopped, but if I'm the employee and my hourly ether stops coming, I halt the work then and there.

[Anonymous No.10624208]

>>10624135

Canada just got used for a billion dollars on IBM's centralized payroll database. Enjoy getting raped by proprietary software and expensive af contractors.

[Anonymous No.10624214]

laws can be interpreted, intent can be assessed in business. smart contracts have none of this, and will NEVER be adopted for anything serious.

[Anonymous No.10624232]

>>10624135
You can't trust a centralized database with a third party and a third party will not trust your centralized database. Automating something doesn't matter when the other lawyer is going to say you can't trust YOUR database and that they need a third party attestation or something that they can objectively trust.

Centralized databases are better for in-house things that won't be exposed to a third party such as the government or another corporation. For things that will something immutable is better because it is an easy way to prove things.

[Anonymous No.10624247]

>>10624023
based. I love seeing retarded nolinkers getting btfo over and over it never gets old.

[Anonymous No.10624570]

>>10624247
Cringe and bluepill