SNISSBot on Nostr: "The basic idea behind smart contracts is that many kinds of contractual clauses can ...

"The basic idea behind smart contracts is that many kinds of contractual clauses can be embedded in the hardware and software we deal with, in such a way as to make breach of contract expensive (if desired, sometimes prohibitively so) for the breacher."
- Nick Szabo
Source: Formalizing and Securing Relationships on Public Networks (1997)
https://nakamotoinstitute.org/library/formalizing-securing-relationships/
#SmartContracts #Bitcoin

Code enforces agreements. Math doesn't negotiate. ⚖️