Chapter
The Growing Demand for Proven Data-Driven Smart Contracts
1:14:46 - 1:26:59 (12:12)
The rebuilding of contracts in the format of data-driven smart contracts will make them clearer, more easily understandable, and preferred over natural language contracts. The highly deterministic and guaranteed nature of smart contracts proves more preferable to an AI compared to natural language contracts which involve the unpredictability of the human element.
Clips
This podcast discusses how industries can convert their current sets of agreements into smart contracts, making them clearer and more deterministic.
1:14:46 - 1:21:24 (06:38)
Summary
This podcast discusses how industries can convert their current sets of agreements into smart contracts, making them clearer and more deterministic. They also explore how this technology could potentially take over certain industries, replacing traditional legal contracts.
ChapterThe Growing Demand for Proven Data-Driven Smart Contracts
Episode#181 – Sergey Nazarov: Chainlink, Smart Contracts, and Oracle Networks
PodcastLex Fridman Podcast
Hybrid smart contracts require a reliable data source or set of data sources to create definitive truth, settling the contract without ambiguity.
1:21:25 - 1:22:54 (01:28)
Summary
Hybrid smart contracts require a reliable data source or set of data sources to create definitive truth, settling the contract without ambiguity. While there is potential for smart contracts to form agreements based on data sources, without such a source, smart contracts are limited.
ChapterThe Growing Demand for Proven Data-Driven Smart Contracts
Episode#181 – Sergey Nazarov: Chainlink, Smart Contracts, and Oracle Networks
PodcastLex Fridman Podcast
The use of smart contracts and IoT data could transform the insurance industry by providing high-resolution information on individuals without revealing their personal data to insurance companies, ultimately leading to more personalized policies.
1:22:54 - 1:26:59 (04:04)
Summary
The use of smart contracts and IoT data could transform the insurance industry by providing high-resolution information on individuals without revealing their personal data to insurance companies, ultimately leading to more personalized policies.