What does lit think of the 4th industrial revolution and why have you not invested in one of its main pillars, Chainlink and smart contracts? Also would be interesting to discuss implications of a smart contract economy. I'll save you skepticism and assume these facts: >smart contract is 100% trust-less >self executes >legally binding >prevents fraud
So what are the consequences of living in a world were every contract/agreement signed between two parties is automatically executed the instance a term/condition (s) are met? Remember this tool can be used to make the world just and fair, or turn it into a dystopian future, since agreements are settled without any human factor or need for trust. Discuss.
Ah yes the centralized vs decentralized debate. This has been discussed a lot, and the consensus is that although cheaper, it provides a single point of failure which makes the concept of trust-less moot. The only way to have 100% trust-less SC's is to ensure that the data received is cannot come from a corrupt single source. This is known as the oracle problem, which Chain link is currently solving. But i'm more interested in the philosophy behind such a world. If you are interested in the actual project, check biz archives from 2018, between may and September is a good start.
Not necessarily, decentralized systems offer much more modularity and can often be much more robust. t. Systems engineer.
Also industry 4.0 is kind of a meme desu china entering the worlds market was and still is a bigger change than automation will cause in the coming 15 years.
Jouralists are only seething about automation since that profession is in the process of being proletariized.
Jace Cooper
>>legally binding Nope. Coming from a technerd, all software is garbage. Writing contracts as software is a recipe for disaster, we've already seen exploits and just flat out wrong contracts.
Mason Cox
Yes but technology is exponential, and as soon as one flaw is fixed it will never happen again. It's still in its early phases, but there has been alot of work already being done. Check out latest activity on chainlink, I'm not programmer my self so you might be able to understand it better. I'm not gonna claim I know alot about industry 4.0. I have read parts of the book which reference different things. My interest is that the book references smartcontract. com, which is part of Chainlinks project. If I'm honest this is the aspect that thrills me the most, living in a utopia were fraud is irrelevant because the economic systems in place do not allow I to happen. Also Pic related was sometime around 2016.
self executing contracts is a retarded idea, blockchain isn't though
Jaxson Johnson
yeah, journalists and academics are obsolete and holding back progress
Dominic Mitchell
I have. I pretty much trade full time and write about blockchain and the switch to an attention based economy in my free time. I published a book on the former and working on a book about the latter.
Brayden Evans
I highly recommend the following books if you're interested in this shift:
The Futurica Trilogy Digital Libido The Sovereign Individual The Internet Of Money
There's probably more, but these are the kino list.
Mason Miller
Why do you think it's retarded? It's the same as a normal contract but it doesn't need months and years to settle since everything was clearly stated. Also has alot of commercial use cases. google.com/amp/s/blog.chain.link/44-ways-to-enhance-your-smart-contract-with-chainlink/amp/ talks about a few. Still would appreciate and literature response regarding the OP; does such a system improve or enslave humanity furtherp?
Ryan Flores
Will check them out fren thanks.
Carter Cook
>technology is exponential, and as soon as one flaw is fixed it will never happen again human population is exponential and the flaws aren't being fixed
Julian Reed
You can't fix human flaws, that's what makes us human. You can try to fix the flaws in human interaction, that would eventually end fraud and theft snowballing into better wealth distribution and in the long run colonizing planets. No one really cares who or what you are, it's just a coping mechanism due to economic instability. If people are happy economically they wouldn't be fighting each other, that is the root of revolutions anyway, and fraud is at the root of economic injust, hence my excitement at a system that can change that. The monetary benefit is the cherry on top.
David Scott
More cheaply monetarily, but the real cost is to human well being.
Landon Hernandez
Don't confuse horizontal scaling with trustless.
All legality and money is ultimately about organizing power. It's our proxy for violence. Unfortunately irreconcilable disputes arise, solvable only through violence in the end. Might makes right - hopefuly by token and contract, edge case of violence otherwise. A warlord will simply ignore consensus of the subjugated, and install his own order. This is generally why blockchains are not tenable as viable proxy for global supply chain, monetary systems and geopolitics. There's no market solution to violence, because it's a base currency - you can't tokenize war when arbiter escrow agencies fail. There's no smart contract for gunboat diplomacy.
Liam Powell
>fix the flaws in human interaction, that would eventually end fraud >fraud is at the root of economic injust
Your premise is mistaken. Getting others to pay for your mess isn't fraud, it's the essence of successful business practice.
