Well, yes. That's the thing. Smart contracts work when they reflect the intent of the parties and fail when they don't. Here, the smart contract did not reflect the intent of the parties and so it failed. We have a legal system to fix such failures because it's unreasonable to expect every contract to be perfect and it would be foolish to make everyone who wants to enter into a contract bear the cost of ensuring the contract is perfect.
Thanks for reaching that conclusion... and now think about the intent of the BitShares SmartCoin contract wrt the settlement guarantee, and reconsider your vote on BSIP-0016. :-)
Again! How to objectively define "the intent of the parties"? Doesn't this that thing for which smart contracts was invented?
Well, yes. That's the thing. Smart contracts work when they reflect the intent of the parties and fail when they don't. Here, the smart contract did not reflect the intent of the parties and so it failed. We have a legal system to fix such failures because it's unreasonable to expect every contract to be perfect and it would be foolish to make everyone who wants to enter into a contract bear the cost of ensuring the contract is perfect.
Thanks for reaching that conclusion... and now think about the intent of the BitShares SmartCoin contract wrt the settlement guarantee, and reconsider your vote on BSIP-0016. :-)
https://bitsharestalk.org/index.php/topic,22531.msg294969.html#msg294969 and https://bitsharestalk.org/index.php/topic,22531.msg294989.html#msg294989 provide some key points about BitShares bitassets aka smartCoins.