stoat the ETH pumper spamming the Altcoin Discussion forum with numerous pointless/duplicate threads about ETH, using one of his purchased BCT accounts (Minecache).
Ethereum spending some of the $millions that fools are handing them in the P&D to buy front page exposure on Bitcoin prostitutionnews sites.
Ethereum's bucket of cash also gives it an edge
Microsoft has $billions and it hasn't stopped their decline into irrelevance and Android marches on with 80+% global marketshare and Windows Phone has <1%.
No amount of cash compensates for stupid focus and myopic direction, which is the precise description of Ethereum.
stoat how many newbie accounts do you control?
There is no way for a smart contract to form an objective consensus about events that occur external to a block chain.
All voting is a power vacuum that fails due to the
Iron Law of Political Economics.
This press release is bullshit with no adoption and is merely to sell more ETH tokens to fools.
Augur and Slock.it and 99% of the apps/contracts announced for Ethereum are so flawed they can never work.
Furthermore, ArcadeCity does not use ETH for payment. Cash, credit card, debit, and Paypal are accepted.
The Ethereum integration is primarily to sell tokens to drivers, i.e. a way to do public offering (let's hope they comply with SEC regulations):
Arcade City will use Ethereum to issue crypto-equity to drivers, allowing them to own up to 100% of the company by 2020.
It has nothing to do with using Ethereum to enable some new technology that improves upon Uber. It is about governance and creating a copycoin P&D in the Uber space.
More information:
http://cointelegraph.com/news/arcade-city-decentralized-blockchain-based-answer-to-uberaThey could use a block chain for drivers to sign a record of the price they are offering, and for riders to sign records giving reviews of the drivers, i.e. a decentralized database that verifies the signers so that reputation can't be faked.
But reputation can be Sybil attacked, unless a resource must be consumed in order to establish a reputation.
Payments from riders to drivers on the block chain would not be a consumed resource, because drivers could pay themselves from fake rider accounts. Proof-of-stake does not consume a resource and thus it
has attack vectors.
The solution is for riders to form a Web of Trust, where they trust friends and friends-of-friends and this reputation is the only reputation they trust.
But none of this needs atomic Smart Contracts. All we need is a way to sign hashes on the block chain and keep the data on DHT. Which is I think the correct design for a 2.0 block chain.