kaal:claim:3227933-021

In a truly decentralized system where code is law, any mistake such as a stolen or lost password or a programming bug is permanent and irrevocable, because there is no authority able to reverse it.

Source quote, verbatim

Remember that in a truly decentralized system, the code is law. This means that any mistakes (stolen/lost passwords, programming bugs, etc.) are permanent and irrevocable.

From

Mark Fenwick, Wulf A. Kaal, Erik P.M. Vermeulen, Why 'Blockchain' Will Disrupt Corporate Organizations (2018), 5. All Just Hype?, p. 13
https://ssrn.com/abstract=3227933 · source PDF

Cite as

Mark Fenwick, Wulf A. Kaal, Erik P.M. Vermeulen, Why 'Blockchain' Will Disrupt Corporate Organizations (2018). SSRN: https://ssrn.com/abstract=3227933

Holds when

truly decentralized systems where code is law

Classification

failuresupport: arguedfailure: Irrevocability of error under code-is-lawfamily: custody-and-key-losssmart-contractsdecentralization

Related claims

restated_by kaal:claim:3227967-034 In a truly decentralized system any mistake, such as a stolen or lost password or a programming bug, is perman...

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