kaal:claim:3782201-035

The hope of most Web3 engineers that overhead institutions can be automated away until they vanish is largely misplaced, because business contracts are not getting simpler as technology becomes more sophisticated.

Decentralized oracles will eliminate the need for any original investigation from independent media. Automated systems will eliminate the middleman. These hopes are largely misplaced.

Craig Calcaterra, Wulf A. Kaal, Future of Decentralization (2021), Overhead institutions are catalysts for the economy, p. 29
https://ssrn.com/abstract=3782201 · source PDF

Craig Calcaterra, Wulf A. Kaal, Future of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782201

failuresupport: arguedfailure: misplaced automation hopefamily: human-judgment-displacementsmart-contracts

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• Extension: The Accountability Paradox
• Contradiction: Smart Contracts: Tales of Trust and Certainty