The real world use of smart contracts that can be done today are escrows and lotteries. Assuming we are talking about decentralized smart contracts. The other proposed uses are not yet fully tested for their efficiency and cost effectiveness. They look swell in their whitepapers but what smart contract platform are being used today? Nothing.
Topic: Real world use for smart contracts (Read 192 times)
Maybe after a boosted security and an assurance of non fraud, then smart contracts for everything from gum to as big as houses would be awesome. I mean it just makes everything easier and purchases smoother. I don't know how it will work for huge purchases but i know people will figure it out eventually.
Yea the real-world on smart contracts would be legit, there would be no need to blindly trust anyone for anything. I believe that smart contracts for real-world applications exist already here is an example of how you can put arbitrage trading on a smart contract check out what they are doing to apply it to the real-world in the first of it's kind arbitrage exchange. https://bitcointalksearch.org/topic/ann-meet-the-people-making-crypto-mainstream-3085831
I am curious about your point of view though.
Could you imagine blending the real world with something like a smart contract?
For example, could you imagine buying a car at a dealership with ONLY a smart contract,
or would you expect to sign additional legal terms along with it?
My feeling is you need both, but that’s because some terms seem hard to automate (like a “reasonable” grace period if you’re late on the loan).
Or, how would you resolve a situation where the car is defective or warranty disputes...
Could you imagine blending the real world with something like a smart contract?
For example, could you imagine buying a car at a dealership with ONLY a smart contract,
or would you expect to sign additional legal terms along with it?
My feeling is you need both, but that’s because some terms seem hard to automate (like a “reasonable” grace period if you’re late on the loan).
Or, how would you resolve a situation where the car is defective or warranty disputes...
I think smart contracts could definitely begin to replace many functions that currently centralized. Selling things such as cars can definitely be done using a smart contract that creates a decentralized marketplace and uses certain criteria to determine if a transaction was successful or if it requires the assistance of a person. Furthermore, smart contracts are being used to sell equity in real estate which is revolutionizing how people purchase investment properties.
I am curious about your point of view though.
Could you imagine blending the real world with something like a smart contract?
For example, could you imagine buying a car at a dealership with ONLY a smart contract,
or would you expect to sign additional legal terms along with it?
My feeling is you need both, but that’s because some terms seem hard to automate (like a “reasonable” grace period if you’re late on the loan).
Or, how would you resolve a situation where the car is defective or warranty disputes...
maybe it's just a hope that can not be realized ,, but I think there are many who berharpa utuk it can happen soon .. walaupu there are some risks that could have happened at the time of payment or installment period to come .. Could you imagine blending the real world with something like a smart contract?
For example, could you imagine buying a car at a dealership with ONLY a smart contract,
or would you expect to sign additional legal terms along with it?
My feeling is you need both, but that’s because some terms seem hard to automate (like a “reasonable” grace period if you’re late on the loan).
Or, how would you resolve a situation where the car is defective or warranty disputes...
Yea i can imagine buying a car. Signing any deals via smart contract would render a lot of middlemen out, and i am eagerly waiting for that to happen. Hope sooner rather than later
I am curious about your point of view though.
Could you imagine blending the real world with something like a smart contract?
For example, could you imagine buying a car at a dealership with ONLY a smart contract,
or would you expect to sign additional legal terms along with it?
My feeling is you need both, but that’s because some terms seem hard to automate (like a “reasonable” grace period if you’re late on the loan).
Or, how would you resolve a situation where the car is defective or warranty disputes...
Could you imagine blending the real world with something like a smart contract?
For example, could you imagine buying a car at a dealership with ONLY a smart contract,
or would you expect to sign additional legal terms along with it?
My feeling is you need both, but that’s because some terms seem hard to automate (like a “reasonable” grace period if you’re late on the loan).
Or, how would you resolve a situation where the car is defective or warranty disputes...
Smart contracts are currently more used for digital applications, it's not really a contract like the physical paper we know in real life. Where person A makes an agreement with person B.
At least not yet, but who knows how things go if eth really goes mainstream.
smart contracts today are just fine words that can help everywhere. However, it's just an instrument that can add some proof in different actions, like checking the real history of the car, if everything with it (crashes, trades, annual technical work etc) is written in some kind of smart contract. but it is only 1 of thousends ways how to use it - and it isn't always better than we have already.
Smart Contracts are programs designed to fulfill a particular purpose without the interference from any individual or need of an intermediary. It is mostly used where trust is an issue. Smart contracts can be used in insurance policies. The process is still very manual and requires a large degree of human action. This adds up to a lot of administrative costs, which result in higher premiums for customers. Insurance companies can automate insurance policies by writing them into a smart contract. Smart contracts can also be used for copyright purposes. Copyright privileges allow the holder to receive a royalty fee every time this content is used for commercial purposes. The issue with the current system is knowing that who owns these rights and then to ensure that royalty payments are distributed to all who are legally obliged to receive payment. A smart contract solution here, built on a blockchain, would keep track of all ownership rights. This ensures trust in true ownership – as any changes to the data on the blockchain requires a consensus from all parties on the network.
I am curious about your point of view though.
Could you imagine blending the real world with something like a smart contract?
For example, could you imagine buying a car at a dealership with ONLY a smart contract,
or would you expect to sign additional legal terms along with it?
My feeling is you need both, but that’s because some terms seem hard to automate (like a “reasonable” grace period if you’re late on the loan).
Or, how would you resolve a situation where the car is defective or warranty disputes...
smart contracts could solve many problems like when you need to pay to country some fees or buying real estate, because it can help not to be scammed, it is much harder to hack your contract in blockchan rather then fabricate papers with your signature Could you imagine blending the real world with something like a smart contract?
For example, could you imagine buying a car at a dealership with ONLY a smart contract,
or would you expect to sign additional legal terms along with it?
My feeling is you need both, but that’s because some terms seem hard to automate (like a “reasonable” grace period if you’re late on the loan).
Or, how would you resolve a situation where the car is defective or warranty disputes...
I am curious about your point of view though.
Could you imagine blending the real world with something like a smart contract?
Well, legal documents are required if one wants to obtain something huge and expensive like a house or a car, since here legal basis is needed not only to make sure the money will not be stolen, but that the person we deal with has the rights to provide us with a certain product. If we talk about paying salaries, however, smart contracts are a perfect way to ensure people don't work for free. Smart contracts can also be of use if one buys something minor like pills or toys. Once you get them, you are sure the money wasn't wasted on scam.Could you imagine blending the real world with something like a smart contract?
Smart contracts could be very useful in real life, but for now they are still to hard to be performed and thus adopted massively by people.
could you imagine buying a car at a dealership with ONLY a smart contract,
that's the problem with people these days. you are trying to solve a problem that does not exist. it is like insisting on using a rocketship to go to work instead of using the bus or your car!
yeah you can use a smart contract to do anything, but the question is what will you gain by adding this complication?
While I agree with what you're saying, I think that smart contracts might actually be an improvement in this case because banks like Wells Fargo have demonstrated that they cannot be trusted and that there needs to be a publicly viewable accounting of auto loans.
could you imagine buying a car at a dealership with ONLY a smart contract,
that's the problem with people these days. you are trying to solve a problem that does not exist. it is like insisting on using a rocketship to go to work instead of using the bus or your car!
yeah you can use a smart contract to do anything, but the question is what will you gain by adding this complication?
I am curious about your point of view though.
Could you imagine blending the real world with something like a smart contract?
For example, could you imagine buying a car at a dealership with ONLY a smart contract,
or would you expect to sign additional legal terms along with it?
Could you imagine blending the real world with something like a smart contract?
For example, could you imagine buying a car at a dealership with ONLY a smart contract,
or would you expect to sign additional legal terms along with it?
Smart contracts are just fancy names sometimes and pretty useless.
I've bought my car at a dealership, the payment was made via wire transfer and for my signature I signed the contract electronically with a stylus pen.
Why should I use "smart contracts" ?
Smart contracts is a good idea for making a deals. It prevents scams unlike the traditional deals. Also, it eliminates middleman since the service that the seller will not be done unless the buyer will pay the amount needed for the service. A great way to have a less expenses just to make sure that your service is safe and secured.
Please let me know how would a smart contract prevent scams and a traditional buying procedure not.
Also, what middleman?
In theory it is possible but I don't think governments are going to allow that unless they can control them. When you buy a house or a house or a car, you go to a notary or a lawyer who has a government license, who pays taxes and who will charge you taxes for the transactions. Unless they keep getting the same taxes, I don't think they are going to legally allow smart contracts. Apart from that, lawyers and notarys are going to complain if they are out of business but I hope technology beats them.
Just because you are going to buy something with crypto, it doesn't mean you're avoiding taxes.
You still pay vat on the purchases (EU), you're still going to have to buy insurance, register the car and so on....
Lawyers? I don't know where you live but you don't need a lawyer to buy a car and get your number plates.
Really, sooner or later we are going to need a smart contract to take a piss in a public toilet
For example, could you imagine buying a car at a dealership with ONLY a smart contract,
or would you expect to sign additional legal terms along with it?
I could imagine buying a vehicle with only a smart contract, so long as there is another smart contract that functions as the legal terms in the future.or would you expect to sign additional legal terms along with it?
how would you resolve a situation where the car is defective or warranty disputes?
That would really be hard to resolve using the existing technology we have today but I guess in the future, it would be possible for companies to resolve it even if the buyer paid through a smart contract.
Creating a smart contract is not a big deal but maintaining it, pressing is and working on it is same thing like that of going through various documentation process that we do today. If thats the case then whats the difference that makes ? It still stays the same and thats why its better only big ideas or companies make use of it! I mean they create it and thus we can make use of "components" within that contracts. Thats the best way to use it actually.
Smart contracts is a good idea for making a deals. It prevents scams unlike the traditional deals. Also, it eliminates middleman since the service that the seller will not be done unless the buyer will pay the amount needed for the service. A great way to have a less expenses just to make sure that your service is safe and secured.
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In theory it is possible but I don't think governments are going to allow that unless they can control them. When you buy a house or a house or a car, you go to a notary or a lawyer who has a government license, who pays taxes and who will charge you taxes for the transactions. Unless they keep getting the same taxes, I don't think they are going to legally allow smart contracts. Apart from that, lawyers and notarys are going to complain if they are out of business but I hope technology beats them.
I am curious about your point of view though.
Could you imagine blending the real world with something like a smart contract?
For example, could you imagine buying a car at a dealership with ONLY a smart contract,
or would you expect to sign additional legal terms along with it?
My feeling is you need both, but that’s because some terms seem hard to automate (like a “reasonable” grace period if you’re late on the loan).
Or, how would you resolve a situation where the car is defective or warranty disputes...
Could you imagine blending the real world with something like a smart contract?
For example, could you imagine buying a car at a dealership with ONLY a smart contract,
or would you expect to sign additional legal terms along with it?
My feeling is you need both, but that’s because some terms seem hard to automate (like a “reasonable” grace period if you’re late on the loan).
Or, how would you resolve a situation where the car is defective or warranty disputes...
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