From: Black Unicorn <unicorn@schloss.li>
Date: Tue, 21 May 1996 02:07:00 +0800
To: "E. ALLEN SMITH" <EALLENSMITH@ocelot.Rutgers.EDU>
Subject: Re: anonymous companies
In-Reply-To: <01I4WV3W0UHO8Y5FKU@mbcl.rutgers.edu>
Message-ID: <Pine.SUN.3.93.960520074656.29440B-100000@polaris.mindport.net>
MIME-Version: 1.0
Content-Type: text/plain


On Mon, 20 May 1996, E. ALLEN SMITH wrote:

> From:	IN%"unicorn@schloss.li"  "Black Unicorn" 18-MAY-1996 11:16:57.48
> 
> > At 06:42 PM 5/16/96 -0700, Wei Dai wrote:
> > > Solution: smart contracts.  This is Nick Szabo's idea of building
> > > contractual obligations into cryptographic protocols so that the parties
> > > have no choice but to fullfil them.  But again we don't know whether this
> > > will actually work for this problem.
> 
> >But what happens when there are nuances or circumstances which contracts
> >do not anticipate?  This "complete" reliablity is also a curse for
> >flexibility which fast moving entities need to survive.

Careful, I didn't write any of this.

> 
> 	That's an argument for combining them with escrow agencies. If the
> escrow agency is less likely to need to intervene, then they'll charge less...
> the principle of insurance company risk estimation.
> 	-Allen
> 

---
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