Bitcoin Forum

I did some research regarding Smart Contracts and I can say I did not conclude to anything specific.
Do you really believe that Smart Contracts can replace a lawyer?
And has anyone actually tried to have any kind of exchange and used one Smart contract?

Thanks, everyone in advance who will answer! I would love to hear some opinions.
 :) :)

Smart contracts are just small computer programs, and computers programs tend to have bugs or generally be limited. Smart contracts might be useful in cases that allow truly decentralized automation, but I've seen cases when smart contracts require trust or third parties, which is the opposite of what is promised.

Smart contracts will never replace lawyers, and they will never replace traditional contracts. It's better to think about them as a decentralized proxy between service providers and customers.

It's a little more nuanced than that.  Blockchains and smart contracts have potential to disrupt the Notary business in particular, but that's generally just a small portion of the "lawyer" repertoire.  There are many functions which lawyers perform that are less simple to reproduce in code.  

Try landing yourself in court and see how far a smart contract gets you in terms of legal representation, for one fairly obvious example.   :)

Is man even smart? I do not think so. Otherwise the Ethereum guy Buteri would not have said he regretted using that word 'smart contract' when he developed ETH.

what more can be said of an automated system  that functions independently at the initiation of some transactions and responds equally to the programmed description as stated by the developer and meeting all the requirements of the developer as at its stipulated time. it is obviously a smart contract act that has triggered the name as a smart contract

Basically, you are asking how smart a smart contract is? I'm sure that it's for transferring one value to another and definitely, it does its job, especially in Ethereum, giving the ability for developers make their own contracts and also helps them do it. It's used for agreements between clients or users and can also provide service to other contracts.

If a smart contract studies the law, it could be. Having a lawyer and comparing it to smart contracts is not smart.

I never thought for once that smart contracts were made to replace lawyer. It's just a way to enforce rules that two or several parties agreed, and cooler stuff like making your own asset on the blockchain (token). There is no way smart contract can replace lawyer, it doesn't help you defend your case, it won't help you find evidence if you're alleged for a crime nor it gives you suggestions on how to act in court.

Furthermore, a smart contract won't advise you if the smart contract is a good contract to get into in the 1st place. I certainly wish the DAO had that feature before I wasted a smidgen of my precious BTC on that shitstorm.  :D

Technically no, as they only perform what they're coded to do and have no brains in of themselves. But also technically yes, because it is pretty smart to be able to automate contracts :D

That said, on the legal aspects of things I'm not sure at the moment. It would seem (if you want to make sure of things) that both parties would want a simplified explanation of what the code will do, and maybe sign that as legal, and then record what the smart contract does.

Have a great day,
Cyberius

I judge that smart contracts are really smart, because when we use them the case of multiple transactions never happened, that's my judgment. besides that we can store every thing in it very safely.

Not at all lol. In Ethereum 2.0 we'll be seeing some changes. Currently, they're too tough to write in and are not as effective as we think.

Smart contracts are indeed smart, as it can execute a command which is is programmed to do once predetermined conditions are met.
It can not replace lawyers, nor was it meant to. Its simply an automated system which executes commands.

And was the addition which expanded tge block chain technology. And it can alao be developers in the future to be useful in different situations.

This has nothing to do with Bitcoin. Smart contracts are not installed on Bitcoin.

I think you can write, so I can say in the wrong section. Altcoin discussion can be a more convenient place.


I also think you are not using any smart contract. Smart contracts, a mutually functional algorithm product. And very successful. It would be perfect if a few problems were solved for Ethereum.

Not everything has to be built into the base protocol to be utilised by Bitcoin.  Things like smart contracts can be built on top.  

Also, arguably, Hashed TimeLock Contracts, or HTLC, are a basic form of Smart Contract and are currently implemented in Bitcoin, so the subject may well be considered on-topic for this board.

Smart contract instead of a lawyer, this is final aim of the progress but there is a long way to go and we don't where exactly end of this way. As traditional contracts, smart contracts may be needed to legal adviser like an attorney. For a small amount of money and undetailed agreements, to use smart contracts let us save money and time and we must consider them in that frame of business.

The idea of smart contracts seems interesting, but the current implementations are far from perfect. Surely, a contract cannot replace a lawyer, because when there are grounds for disputes, we need someone or something that is able to process arguments and context. However, they can replace escrows. I used a smart contract only once on some sport betting website. It was harder than I expected. I had to use Metamask, transfer my money first to a 'wallet' there and then to the casino.. I won, but I didn't see my funds in the Metamask or MEW wallet after that. Other members also reported that issue, but the casino provided a link that was proving that the payments were sent out automatically by the contract.. The bet was worth a couple of dollars, so I didn't bother looking into details and determinng why I couldn't get the money, but the whole thing was complicated and not worth it. If someone manages to make smart contracts really user-friendly, they will become more popular. For now good old trust system with humans seems more convenient.

Artificial intelligence will have more power than smart contracts for a job as a lawyer. But for insurance, it would make sense. Imagine you have home insurance and your house burned in a fire, you would declare your claim and the smart contract would automatically trigger compensation.

I like to simplify smart contract with:
If <event> then <action>

I don't see any use of
If <I'm at the police station> then <call the lawyer> or
If <I'm jailed> then <appeal>

People want to "blockchainize" everything while there is no use in their industry. The same with smart contracts.

No, they are not actually smart.  The name is misleading. "Smart Contracts" are basically a hard-coded rule engine.
"Smart" would mean for me if they made independent decisions that are not predetermined.

I think smart contract doesn't mean it is smart enough to become your lawyer.
Same as your smartphone, it cannot become something like lawyer just because it is smart.
Smart means they can compute or automate anything with their knowledge base in their system.

smart contract is intelligence that remains limited, that is limited to the use and function of the code they run. whereas if you say that a smart contract can replace a lawyer, in this context it is a human, it will not be possible, ideas and inovation will never die, while the smart contract will continue to be limited to the beginning of its creation, except human beings themselves strive to develop further.

Smart contract is not that smart i think. But smart contract can make many things easier than before.
For example if everything can be handled automatically, of course it will make us doing too much efforts.
I have not try smart contract in exchange, what i know is smart contract for sending coins or tokens.

Smart contracts are codes that automatically validates a condition and automatically determines what the program wants it to do. This is done in a  decentralized ledger that stores and replicates what is needed in a secured and immutability form so it is indeed smart.

A Smart Contract is smart in its own definition. It ain't gonna replace any lawyer, at least not in these years ahead. And as the crypto universe keeps on growing, the Smart Contract itself is still open to be developed more and redefined.

It is difficult to assume their 100% transparency, but as practice has shown, many projects, with the support of smart contracts, are successfully operating. It is better to practice everything here, to check, perhaps you should trust this new system. He is as smart as he is programmed. To many users, it gives confidence.

Smart contracts based on cryptography can provide security better than traditional contracts. Many people think that smart contracts are self-sufficient, but everyone has the right to express their opinion, sometimes pessimism can be a good safety net, and an excellent signal for correcting technical errors in the sets.

If you rely on information from Internet sources, then yes smart contracts are smart, and very promising in terms of security. I don’t know how it looks in practice, but in the future I plan to take part in projects that are based on "smart contracts", and I will make the final conclusion for myself, which I will share with you.

This is something new. It is interesting to see how projects will work, based on smart contracts, what the result will be, and whether investors will like it. According to the description of what is smart, what are its functions, and why it is needed, everything sounds perfect, as it is in practice, until you had to investigate. Automatic system facilitates the work of many, and this is a plus.

I watched a lot of commercials and read articles on smart contracts, and I have only a good impression and conclusions! The theory of the essence of "smart contract" is very perfectly formed, it remains to understand this in practice. I plan to participate in projects that take smart as a basis.

I believe people can break everything. Smart contracts are highly transparent based on the information stored on the Blockchain, but if disputes occur, everything uses laws to solve and smart contracts like legal evidence for that.

Thanks to the smart contract algorithm, automation is taking place, blockchain network connection processes. A smart contract guarantees security and openness of transactions, which completely makes a person calm about their investments. Now many projects are working on smart, and many of them are successfully moving forward, you can read the statistics, it is on the Internet.

This is something new, which again inspires confidence, has been heard a lot, and they really say that the clever, well-known HYIP projects of 2018 are built on contracts, and work for quite a long time as for HYIP. There is something in it that you need to try to understand exactly.

If he was developed by a good specialist, a professional in his field, of course he will be smart, but in general I think that he will work the way he has been programmed, for each company he has a smart contract. And its exact action is already indicated by people who take part in such projects. Since smart contracting involves broadcasting it is very interesting and can successfully respond in its own way.

Humans created machines as well as smart contracts. Nothing is perfect in this world. Even systems get upgraded after a while. So, yes, smart contracts are limited within itself.
They do have capabilities to execute a task but cannot replace human capabilities. Smart contracts were designed to execute programs on the blockchain.
Smart contracts are smart enough to perform the given task but then we will also have to upgrade it timely to deal with the upcoming challenges.

There are many aspects of smart contracts that may be used. Recently, they can be used for remote aggrements and they can save time for us. One day, it will become very sofisticated and may be used instead of a lawyer.

They are obviously smart since they  are precisely based upon AI. Of course it is still a new technology, but even with that limitation they perform extremely well.

Could they replace lawyers in the future? I believe they could do some of the work since the types of lawyers are many, man and machine can work together.

A friend so no one said that smart contracts should replace lawyers.Apparently you haven't really studied this feature.Smart contract means the final end of any transaction that people or companies have concluded between themselves.

Of course, any technology has its pros and cons. Smart contracts also have their disadvantages, but they have many more advantages. If you compare with traditional contractual relations. Of course smart contracts cant replace some bodies such as a lawyer or a court, but I think that they were not created for this.

Well if it comes to replacing a lawyer with smart contracts, that would be impossible. A smart contract is just a program and a lawyer is a different thing. A lawyer is human smart contracts are not. That's the point. I agree that smart contract is great when it comes to decentralized automation. But it is not enough and human trust is still the answer. Also, smart contracts would not be able to replace traditional contracts. Paper is still different as of now and smart contracts have the issue to solve still.

We cannot under estimate the smart contracts platform, if that isn't smart enough why this being used in majority of the projects over many other blockchain platforms that are available. It's been termed a new technology, but it is the one that got the potential to give strong competence to bitcoin. I strongly believe smart contracts are smart enough to the growth of cryptocurrency.

Smart contracts in fact is a computer program that can not be bribed, there are a lot of examples of incompatible with lawyers, for example, you called a taxi, your account was debited funds, and if the conditions of your smart contract are not fulfilled, then you will get the money back, if executed, it will be written off, and in the future there will be no disputes, ie in such a situation, lawyers and not to anything. Of course, there are disadvantages to any technology, but I see more advantages in smart contracts, and I think they will eventually lead to ideal work.

It seems that you have to go back to doing research, what is called a smart contract and what is its main function.
You cannot connect between smart contracts with lawyers, they are two things that are mutually contradictory. The function of lawyers is to provide services to make legal agreements based on state letters. While smart contracts are the rules for running the system.

Some exchanges that use smart contracts are those from the ICO. so that investors believe that the project runs according to the rules of the smart contract. You might be able to read some ICO based exchanges. for example, bancor protocol.

Smart contract is smart. It wasn't called SMART contract for no reason. The idea of "to replace lawyer" is a no for me although the use of smart contract is really efficient and can alleviate lives. It was made to make things easier and not to totally replace lawyers.

in my opinion smart contact is indeed very smart, and because I believe that smart contact has very good benefits, and that can be very useful for the future.

not sure if you already hear about other brands that was also called "smart" but they arent actually smart . one of them are just a brand of telco or telecomunication ( network service provider )

thats why i think smart contracts arent really smart . smart contract was just a brand name .


same here . no one can replace the actual/real lawyers . they studied for many years just to got that profession . we must respect them  .


yes that was thier purpose  , they didnt mean to replace anything  . they just help us to live easier  in the form on their service  .

Well smart contracts have been deisgned to execute payment in between people so in a way it sort of plays just a portion of the lawyer's duties. Technology keeps advancing and we don't know what would come up in the near future.

I do not think it was intended to replace lawyers.  ;D It is just a smart technology to extend the payment options for Bitcoin users and to automate certain requirements before payments are done. You still have two parties that agree on these requirements and then one party configure this smart contract and the code handle the payment based on what was configured.  ;)

I have yet to see any Bank offering such an automated payment feature to their client, without any intermediary.  ::) That is what makes it so smart.  ;)

I think in the future with the development of technology, smart contracts may well replace some professions.

Smart contracts are useful to the industry but they aren't smart enough to replace lawyers. For confirming payments or what projects are doing i.e locking funds into a release system it is a great product