>>59930446
>supply chain management
A farmer records a batch of organic coffee on a blockchain ledger.
IoT sensors track temperature during transportation.
Oracles update the blockchain with real-time GPS location and environmental data.
A smart contract automatically releases payment to the farmer when the shipment arrives in proper condition.
Consumers can scan a QR code on the coffee bag to see its entire journey.
>NFTs and digital ownership
NFTs can represent fractional ownership of properties, making investing more accessible. They do this through use of an oracle.
>So a smart contract is only useful in cases where there is zero room for interpretation anyways?
The point is deterministic immediate action as a consequence of a deterministic event. We do not have this in society, we have unreliable trust assumptions in flawed humans.
>lose private key to your house owning wallet and then what?
Social recovery uses "guardians"—trusted individuals or devices that can help restore access if the private key is lost. Instead of storing a seed phrase, users can designate guardians who assist in key recovery.

Back | Go to board

Board:

/biz/

Thread:

Smart contracts have no real world use case.