We did have great CL thread last time. Leta continue with the same material.
"Make America Great Again through real-time adaptive tariffs: If we transacted with smart contracts, then tariffs could vary based on the real-time trade deficit with China.
Every morning, the decentralized oracles (i.e. Chain Link) would reach consensus on what the current trade deficit with China is and feed it to all OEM smart contracts with Chinese suppliers. Based on the deficit (that specific day), the smart contracts would automatically calculate the tariff rate (using a formula predetermined by the government) on that specific day in real time.
“Tariff on imported auto parts is currently 25%. For every $10 billion the trade deficit creeps above $375 billion, apply additional 3% tariff on imports. If trade deficit goes below $250 billion, then reduce tariffs by 0.3% for every $10 billion below.”
so here is the ultimate redpill: >there will be no mainnet Sergey is an artist and chainlink is one of his interactive art pieces. it is visualization of fractured minds. all of Jow Forums, everything, is part of the art work.
That tarif idea is crazy, we need a link use case thread general where we can discuss all potential use cases. I have a question tho, if the world is to adopt smart contracts, wouldn't you need to be able to tokenize assets as well? Like if Jim wants to sell property to Bob via a smart contract with predetermined terms including say a countdown for late fees or something, how would you go on about doing so? From a legal perspective is my concern. Like will there be laws made around smart contracts? And how can we make sure these laws don't allow for loopholes/corruption
>Like will there be laws made around smart contracts? And how can we make sure these laws don't allow for loopholes/corruption watch this if you have a spare hour
among a bunch of other things, they talk about smart contracts being legally binding, and because of the non-ambiguity of the conditions and functionality of smart legal contracts adoption might be slow or limited to black and white contracts (like financial contracts) since there is a decent amount of grey in current contract law; that being said they make mention of how eventually the market probably will prefer the clarity and immutability of smart legal contracts in more and more legal domains, and in order to facilitate that, proper oracles are needed, can't remember if they explicitly referenced decentralized oracles but it's still a very interesting watch
Aaron Butler
>among a bunch of other things, they talk about smart contracts being legally binding I'll watch this later since I got finals soon. I guess what I'm asking is will each country have different rules regarding smart contracts or would there be some kind of global standard on dealing with SC. Like maybe if law is passed that only smart contracts who use Link are to be trusted, that would make it easier to pass law on it. I know we are probably 2-3 years probably from SC adoption, hopefully sooner, but im planning a business model that utilizes link and SCs. It's all just on paper now but I'm hoping I could make it work. Gotta wait on Sergey tho
>Like maybe if law is passed that only smart contracts who use Link are to be trusted, that would make it easier to pass law on it. This sounds retarded. I meant if the US or some major country passed a law making link standard middle-ware for running SCs, that would make it easier for the rest of the world to legislate law on smart contracts.
The IDEA act forces all Executive federal-level offices to explore e-signatures inadvertently smart contracts given that there's a massive cost-savings to benefit from (some hundred million of u.s. tax payer $$$)
We know all this stuff. There are instantly multiple threads every time someone wearing a suit tweets about smart contracts. You're not going to school us with news you got from cnbc.
You know what would be a bigger shitstorm? If Sergey got hit by a car and died, or had some other kind of tragic accident
James Diaz
You really think a team like that wouldn't have thought of that? I bet there's a hundred clones of Sergey waiting to be deployed
Jonathan Peterson
I have bad news for all of you. I saw Sergey in the market (seriously, for real no larp) and he wasn't wearing that shirt he always wears. He had on a green t shirt but it was definitely him.
If he can't be trusted to keep up appearances, how can we trust him with our stinky linkies.
Luis Jenkins
The black pill is that there is no Sergey.
Isaac Miller
>the plan Linkpool for initial staking. Personal node once I can afford top of the line node equipment from Linkpool rewards. If mining ETH for 8 months in 2016 didn't handicap my graphics card, I'd be trying a personal node as soon as I could.
