Smart contract ideas thread for Tom, Dick and Harry!

If truly smart contracts can revolutionize our everyday life, then this thread is a attempt to know the possibilities of smart contracts, unleash your creative ideas of smart contracts.

Comments

  • cuddaloreappucuddaloreappu Member Posts: 20
    Today i was made to wait nearly an hour in hot sun, by my friend who said he would arrive and pick me up to college at 9 am but turned up at 9.45am.Over the phone he kept saying he has started early but the traffic was heavy, but that's a complete lie, he had slept and started late.


    So in the mean time i was thinking about a smart contract, involving a digital currency like bitcoin, where both of us agree a smart contract, the contract should be programmed such that if one person does no fulfill the promise then for every 5 minutes a certain amount of bitcoin will reduce from his wallet and be put in my wallet until the contract terms are fulfilled.

    So if we could demand such a contract with anyone who asks us to wait for any reasons, then people would be always punctual and keep up their words, the world will be a better place.
  • kharvtrankharvtran Member Posts: 12
    Very nice idea indeed! I was thinking also of the similar thing, where a smart contract can force people to commit the task on time. For every 5 or 10 minutes of submitting late the deadline, a certain amount of his ether will be reduced. Or people can commit themselves not surfing facebook, twitter during work to prevent procrastination. Every time they go to the social network sites, a penalty will be given with the decrease of his ether.

    I know there are already existing apps or extensions as such, but those are not efficient enough, since people can break the commitment easily, given the fact that they don't have to pay anything doing so.

    So commitment with financial matter as used in smart contract could be a good application.
  • JasperJasper Eindhoven, the NetherlandsMember Posts: 514 ✭✭✭
    There is a rideshares thread. Many of these things require reputation systems. Sufficiently trusted reputation systems, and a way to identify the riders, it may be possible to get help from some arbitrary other guy that is heading in the right direction anyway. (without aiming your thumb and standing next to the road)

    Moving items and goods is similar in some ways, of course.

    Reputation systems are really ridiculously key to a lot of things..
  • cuddaloreappucuddaloreappu Member Posts: 20
    also today i thought of how smart contracts can help in traffic regulations in places like India, where there is poor compliance to traffic rules.

    value is deducted if you don't obey rules each time..
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