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Friday, October 23, 2015

Bitcoin and Cryptocurrency Technologies - Quiz 11 Problem 4

According to the lecture, what are some issues with using cryptography to enforce contracts? (check all that apply)

Losing a device containing your private keys could result in the inability to use your smart propertyCorrect
It is problematic if the state does not recognize a block chain based notion of property because the state will always be the final arbiterCorrect
Cryptographic security lacks the corrective controls of real-world security such as prosecution of criminalsCorrect
The technology behind smart contracts is not powerful enough to express the logic needed for real-world contracts like derivativesWrong

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