Post
Topic
Board Economics
Re: Real world use for smart contracts
by
stompix
on 01/05/2018, 14:36:44 UTC
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?

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