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by Arainach 397 days ago
>The whole financial world would be better written using blockchain/smart contracts, same goes for voting/governance, etc.

Citation needed. Governance and finance absolutely need human judgment recovery edge cases such as "My house burnt down containing my ID (keys) and I need access to my bank account to rebuild it"
2 comments
simonw 397 days ago
Right. All of these "finance and government would be so much better with smart contracts" suggestions seem predicated on the idea that human beings can design a system correctly on the first attempt and deploy an immutable version of that system they can then run independently forever without any bugs or exploits that need to be fixed in the future.

Human beings cannot do that.

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hbbio 397 days ago
Good point.

It seems the common approach now is to make a v2/v3/etc. of your protocol and let your own users migrate. Previous versions will still run forever, but your frontend can push migration paths.

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hbbio 397 days ago
Social recovery for smart accounts covers your use case
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Arainach 397 days ago
Unlikely in practice.

"My house burned down and inside was my spouse, who was my reco ery contact"

"My recovery contact died / isn't speaking to me / is backpacking in the Himalayas"

The problem isn't technical. It isn't a formal mathematical problem. It's that the real world is messy.

There are plenty of other classes of problems too. "This person committed a crime and their assets need to be seized", etc.

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