Thanks for watching. I love this subject - 2nd most interesting thing ever.

@shaneriggs640

3 жыл бұрын

Whats number one???

This is actually a great explanation of smart contracts. The word contract is a bit deceiving so I appreciate the layman breakdown and some real work examples of how it contrasts with traditional methods.

Look forward to hearing about part 2!!

Very good example with the Vending Machine. Helped me a lot to understand the basic idea of smart contracts. Thanks

@alex96super

2 жыл бұрын

*putting payment in vending machine* *no drink comes out* * press refund button* *no money comes out* *kick machine* *money and drink come out*

I'd like to hear part II which should have the more interesting issues from a legal perspective.

Thank you, Jeremy, this was great! Waiting for part 2!

Looking forward to Part II.

2024 and looking forward to Part 2. Insane body of work you’ve got here

Loud and clear - thank you, Jeremy

Very important. I’m happy that I found this explanation.

@noahrodriguez1895

2 жыл бұрын

hmm. what if the truck really did never ship the goods provided as descirbed in the smart contract and the funds are released. The people that payed the truck company is screwed.

@ruthboaz3984

2 жыл бұрын

@@noahrodriguez1895 never said never!! But 🤔🤔🤔🤔

Alright, I’m intrigued. Looking forward to Part 2.

@LegalBriefs

3 жыл бұрын

Maybe next week.

Thanks for this info!

Interesting that we have been using smart contracts all this time.

@nocapdanzvlogs3678

3 жыл бұрын

Ecclesiastes 1:9 KJV - The thing that hath been, it is that which shall be; and that which is done is that which shall be done: and there is no new thing under the sun.

I was going to comment the way you explain / educated us is like a great Teacher. And then I remembered. OH YEAH. You were a Teacher. Best to your family and. Thank you for ALL your great input. 👍

Thanks, this was super clear!

well explained thank you for being so particular....

Thank you Jeremy, very uselful and easy to understand video. I subscribed to the channel and I am looking forward to watch more interesting content such as this one. Cheers.

In example one - You present a dispute resolution for a traditional contract. In the blockchain example - you do not present a solution for dispute resolution for a breach of a smart contract. I don't understand.

Please clarify. I understood that the regular legit written contract works, but sometimes with a problem that may delay payment or cut in 1/2. So; how would I allow a fast smart contract that ia exclusive for payment and products are wrong, damaged or lessl??

I didnt understand. Now I do. that was a very efficient effective video.

This was helpful!

@LegalBriefs

3 жыл бұрын

Thanks...

extremely interested in part 2, that's where all my questions about smart contracts lie!

@LegalBriefs

3 жыл бұрын

Someday...if I can find some time... :)

@ashleerose7662

Жыл бұрын

@@LegalBriefshave you found the time? Lol I’d like part 2 also

Hi there ! I don’t see the part 2 in your videos, is that correct or what is the title ? Maybe I am just keep missing it 🤦‍♀️😂

@ChrisBrowncaptainchris45

3 жыл бұрын

I'm looking for it too🤦🏽‍♂️

Clear! Thanks!!!

@LegalBriefs

3 жыл бұрын

You're welcome!

Groovey Bar - Well said as always!!

@LegalBriefs

3 жыл бұрын

Thanks Brendan!

Wow! Interesting.

@LegalBriefs

3 жыл бұрын

Glad you think so!

Good info

I looked and can’t find part 2. Can someone please post a link to it?

Part 2 please!

All of my contracts smart

Wow! Looking good Jeremy!

@LegalBriefs

3 жыл бұрын

Thanks Mia.

Sorry where can I find the part 2? Any link?

early in the blockchain legal space. keep going

big fan of mr.Hogan

But the other half of the shipment didn’t come, how does smart contract deal with that?

Hi Jeremy, if I understood you correctly the purchaser of the service or product is more exposed under a blockchain transaction. What are the remedies available to the purchaser? Also in the case of a smart contract mortgage where the borrower borrows from a group of lenders, the legal costs may be greater than the amount of money borrowed making recovery via the legal system uneconomic. This, I would think would be further exacerbating if the lenders were in other countries. Am I correct?

How would the parties in the example you provided deal with that same partial shipment scenario with a smart contract?

One of the best explanations of smart contracts that I've encountered so far. 👌🏾

How do you do your graphics? :)

is there a part 2 posted, having trouble finding it ✨❓

So are you going to do part 2 of enforcement

You mention a part 2 on smart contracts. What is the title of the next video on smart contracts? Thanks!!!!

Is part 2 available?

Jeremy please make the second part to this, this video was really helpful and appreciate the work you put in for us here1

What happens if the transport service only sent in half of the goods with a smart contract? Did I miss something?

@LegalBriefs

3 жыл бұрын

If the transport company only transported half the goods not all the goods would have been scanned and the payment wouldn't have been triggered.

@xXxMoppixXx

3 жыл бұрын

@@LegalBriefs Ahh okay, now I get it I think. I'm not very familiar with barcode scanning now that I think about it. Thank you for clarifying that! I'm wondering if something like VET can do that product authentication and smart contract process completely.

We want the other lawyer again. :)

@Einnor084

3 жыл бұрын

Won't u b consulting, on these contractz? Less work, BUTT mo $? Perhapz, a royalty, paid after a certain number of flawless transactionz?

This looks like it will be the new thing...

Isn’t it bad that you can’t stop the transfer if they short you?

What if a smart contract is executed fully, but appears to contain sensitive data (like passwords or personal data)? I mean once it's in the blockchain it can never be corrected, right?

@LegalBriefs

3 жыл бұрын

That''s more a tech issue but I happened to recently read this article somewhat on point: medium.com/ing-blog/how-to-keep-data-private-on-a-blockchain-252848ae228e

What happens when a smart contract is supplemented with new programming or rewritten to alter the original function?

Where is part 2?

What happens when the vending machine doesn't give you your coke and took your quarter?

Huh? So if only half the goods arrive at the warehouse, there is still no way to stop the full payment if the parties are using a smart contract? How is this a good thing...

I agree that you should trust no one.

So what happens if they only get half the goods? The contract pays 100k?

@hata084

Жыл бұрын

👆👆👆👆👆👆👆📩 Appreciate the Comments... For Tutors , Reach Me With the Digital Text Message Numeric Helpline above For investment Constructive Satisfaction .

In the example wouldn't the automatic execution of the contract lead to instant litigation? Seems to me that the automatic contract would cause more problems than it solves...

@LegalBriefs

3 жыл бұрын

That's correct but it can operate to shift risk.

The middle man removed in most instances will be lawyers

Know of anyone who can help put a couple things together using smart contracts?

Good explanation, but there is still the issue that the transportation company might or might not transport 100% or less and there is some real world instace that decides what 100% is. The blockchain certainly can't determine if one party has fullfilled her duties or not. If this determination is not neccesary it's rather a dumb contract. On the other hand if its only a matter of delivered weight i can imagine that some kind of automated system translate the cumulated weight to the blockchain which makes the payment if the agreed weight is reached. Considering that the automatation of the determination of fulfillment is only possible for the simplest countable facts it seems we still have a long way to go until this works for a lot of real world applications.

@cullensmith2342

3 жыл бұрын

Blockchains and smart contracts need oracles to get real world data. Chainlink is the most used decentralised oracle solution. An oracle would feed the data regarding the transportation company example into the smart contract which would then self execute if everything was fulfilled.

@schubi128

3 жыл бұрын

@@cullensmith2342 Maybe if the AI's are progressing also facts that are not like 2+2=4 can also be determined correctly. At the moment the oracles are still relatively dumb calculators which need to be feed with mostly unambiguous data.

No banks are needed when it comes to crypto.

No matter what happens Jeremy please understand I do not, nor ever have thought of you, as a 3rd party. You are a human being, a human being who happens to be a future 3rd party within a digital system. BTW, Never understood the hole 3rd party terminology? All the sudden the 3rd party is in the house!! Yet i never remember a 1st, or 2nd party??? ***Ba dum tss***

Smart crypto = XRP = all the investors money to the founders pocket..........simply

Bitcoin just went up past $30k . How can you pay in Bitcoin any contract..too volatile

WHY DID WE NOT USE BLOCKCHAIN THIS LAST ELECTION???!!!!

Awesome 😍💋 💝💖♥️❤️

@LegalBriefs

3 жыл бұрын

Thanks 🤗

Will I ALWAYZ git my Coke, wit these SMART conTRACTZ? Automation, don't ALWAYZ work, does it?

Paying a contract with crypto is impossible because the price is up and down too much.

@johndoughcrypto9688

3 жыл бұрын

your using the wrong blockchain. wait until coins like xrp are locked into millions or billions within banks, it's stable and they will utilize it. the value comes from this utilization not on the trade value necessarily, imo

@cullensmith2342

3 жыл бұрын

You don’t have to pay in crypto, you can pay in fiat money or a crypto stable coin (pegged to $1 usd

Won’t smart contracts put lawyers out of business¿¿

@johndoughcrypto9688

3 жыл бұрын

we all need information and guidance on new ventures

Xrp will be king

Smart contracts don’t seem all that smart.

@LegalBriefs

3 жыл бұрын

They have a ways to go - will address it in Part II.

Attorney on KZread has to be getting paid by someone. Please I wonder who

@LegalBriefs

3 жыл бұрын

I wish... I make like $50 a video from KZread - mainly do it for fun.

This is the problem. Uneducated ‘experts’ explaining something that simply is not true.

13:43 I love that. Do you love me? 😍💋 💝💖❤️

@LegalBriefs

3 жыл бұрын

Yes, yes I do.

@johndoughcrypto9688

3 жыл бұрын

@@LegalBriefs let them hear

This is foolish.... having a simple contract reside on thousands of computers is silly. Self executing contracts sounds good but fail miserably when people want to make a simple amendment. How would rents be deferred in the event of a covid eviction moratorium? These contracts are dumb not smart.

Doge signing a smart contract, you herd it here first....

Horrible explanation… you basically showed me why I wouldn’t want to use a smart contract. If half my shipment arrived I WANT THE BANK to stop payment! Duh!

Etherium will get dumped