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<blockquote data-quote="Faceplanted" data-source="post: 4230803" data-attributes="member: 56697"><p>Lots of the big players got screwed over during the last recession as during the period it took for the contract to settle, the company owing money would hedge investments to offset and delay on purpose. The article goes into depth about how important this is. Smaller companies will be doing this within the next year or two to save tons of money as well as time . The large firms will follow after.</p><p></p><p>There are no regulations that have to be passed, it’s basically settling a contract via info that oracles receive from already approved sources. Instead of a group of people looking over that info, the smart contract will trigger automatically. It’s no different than using the old fashioned way, except collateral will be used on chain, and released when a parameter is set by a specific date.....or how ever you want to agree to set up the smart contract.</p><p></p><p>Smart contracts are already being used on etherium, they are just as legally binding as any other contract. Nothing the gov needs to regulate.</p></blockquote><p></p>
[QUOTE="Faceplanted, post: 4230803, member: 56697"] Lots of the big players got screwed over during the last recession as during the period it took for the contract to settle, the company owing money would hedge investments to offset and delay on purpose. The article goes into depth about how important this is. Smaller companies will be doing this within the next year or two to save tons of money as well as time . The large firms will follow after. There are no regulations that have to be passed, it’s basically settling a contract via info that oracles receive from already approved sources. Instead of a group of people looking over that info, the smart contract will trigger automatically. It’s no different than using the old fashioned way, except collateral will be used on chain, and released when a parameter is set by a specific date.....or how ever you want to agree to set up the smart contract. Smart contracts are already being used on etherium, they are just as legally binding as any other contract. Nothing the gov needs to regulate. [/QUOTE]
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