Despite their benefits, smart contracts are subject to significant limitations because human business interactions require a flexibility that is at odds with the merciless mathematical logic of smart contracts.
Source quote, verbatim
Despite the significant benefits of smart contracting for business and society, smart contracts are subject to significant limitations. Human business interactions require a flexibility that is at odds with merciless mathematical logic of smart contracts.
From
Wulf A. Kaal, Decentralized Commerce – A Primer on Why Decentralized Reputation Verification Systems Are Needed (2019), IV. Downsides of Smart Contracts, p. 5 https://ssrn.com/abstract=3405401 · source PDF
Cite as
Wulf A. Kaal, Decentralized Commerce – A Primer on Why Decentralized Reputation Verification Systems Are Needed (2019). SSRN: https://ssrn.com/abstract=3405401
Holds when
human business interactions rather than fully mechanical exchanges
restated_bykaal:claim:3411897-032 Human business interactions require a flexibility that is at odds with the merciless mathematical logic of sma...
restateskaal:claim:3266953-014 Smart contracts cannot by themselves carry human business interactions, because those interactions require fle...
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