[gedrap]

> I locate and bribe/extort your main influencer/s to push your project into the ground (block work, object to everything, whatever) or in my preferred direction

How's that any different from the current state? Execs of current companies are humans with power to run the company into the ground. You can extort/bribe them like that as well. How does it change anything?

[popcorncowboy]

fab13n made a similar comment on this line. So thanks to both of you for illustrating the point (genuinely):

> "How does it change anything?"

The action itself may appear the same, but in code-as-law systems the consequences of this action change everything. The system of governance is immutable. If I can coerce your primary influencer to destroy your Colony _there is nothing you can do about it_, because the system is still _working exactly as designed_. Like an AI auto-pilot flying you into a mountain at high speed because it got a correctly formed override instruction to do so.

In the real world we have multiple interpretive, negotiated, social conventions to deal with bad actors, agents and outcomes that violate the spirit or intention of underlying agreements.

The lack of these are EXACTLY the problem in a "code as law" system - and worryingly it shows that most of our intuitive responses to bad agency in these type systems is still "but it's the same in the real world". Except of course for the existential threat posed by immutability of consequence and recourse.

You cannot remove trust from collective human agency, you can only put it somewhere else and pretend like it doesn't matter anymore. Right up until it does.

> Execs of current companies are humans with power to run the company into the ground.

I get what you mean, but in practice you can't wilfully do this without serious consequence. To destroy value is to take it from someone. Fiduciary duty is a legal reality.

[digikata]

I think it's good to press hard on how newly proposed code-as-law systems work, but at the same time, how are gaps between code-as-law larger or different from say an executive that skims money out of a company, transferring it to other bank accounts. The banking system isn't enforcing any legal contracts in that transaction, and if the malfeasance is discovered then some legal recovery action would order or capture assets to be transferred back. Couldn't a court of law order assets be transferred to a wronged party in a code-as-law system?

Edit: I do think a good "control test" of many of the code-as-law systems is to compare against cases about how it would be different than a ledger managed by a person & the existing legal framework around it, and then a centralized database with security around certain operations.

[DRAOBE]

Well, there is actual law against it? https://www.nytimes.com/2015/12/02/nyregion/ex-citigroup-con...

[mtnygard]

It happens, but when it does happen, people have recourse to a totally different system: the courts. I think of it like raising the issue up out of the system Corporate Management and into the system Legal Enforcement.

It is patently not a perfect system, but the failures are notable because they are not common. Most shareholder lawsuits against management are resolved before anyone ends up in headlines.