Call Blockchain Developers What They Are: Fiduciaries

[shyliar]

Interesting article here calling for blockchain developers to be held accountable for their code. It's aimed mainly at smart contracts such as the DAO failure. It's likely that this type of thinking will become more common in financial circles where rules are in place to ensure a level of professionalism is maintained. When these rules are enforced by legal entities many organizations like the EF will run for cover.


http://www.americanbanker.com/bankthink/call-blockchain-developers-what-they-are-fiduciaries-1090632-1.html

[Bemerand]

Funny post, and you can make a clever pun and call them BTC Fiduciaries but for obvious reasons such as they are BTC specific they are obviously not Fidicuiaries. Good read thanks for posting

[adhitthana]

Interesting article here calling for blockchain developers to be held accountable for their code. It's aimed mainly at smart contracts such as the DAO failure. It's likely that this type of thinking will become more common in financial circles where rules are in place to ensure a level of professionalism is maintained. When these rules are enforced by legal entities many organizations like the EF will run for cover.


http://www.americanbanker.com/bankthink/call-blockchain-developers-what-they-are-fiduciaries-1090632-1.html

Thanks for that. A great article with some good talking points.

What surprises me is that Crypto often is portrayed as something for people who don't want central control but the other side of that coin could be personal responsibility.

People who put Ether in the Dao were akin to people who put there wallet on a seat in a park and walked away. Someone took it and they were shocked.

[RoseMann]

Great article, force some responsibility on developers and start holding people accountable!

[kiklo]

LOL,   

Underlying statement is that All Software developers could be held legally accountable for their software's performance.
Passing any such law , would guarantee that Microsoft and Apple get Sued on a Daily Basis until they went bankrupt.