“In traditional contracts, each party is free to decide whether to fulfill the contract, whether to only partially implement the contract (by leaving out some obligations), or whether to breach the contract (and pay instead for damages or compensation). By contrast, in the case of smart contracts, parties have no choice but to implement the contract, because the contract has been encoded, written into the code. It cannot be breached unless one actually manages to break into the code.”
An interview with Enric Duran, who’s currently busy organizing the FairCoop Open Cooperative, a community-built effort to alleviate global economic inequalities through the use of mutual credit, reputation systems and cryptocurrencies.
Can commons-oriented peer production be applied to material production? Will activists and contributors to the commons always be forced to work within capitalist structures to subsist while investing their available free time in volunteer activities? How can we create socially-oriented companies without the start-up capital to fund them? Is there a model that will allow us to make a living, produce goods and services and even compete with the dominant hegemony?
“What we have is multimodal environment, and I think we need to look at the economy as having multiple modes of production happening at all given times. I don’t think it should be our objective to try to figure out how we can flip from one to the other, but how we can increase the kinds of producing and sharing that we think are beneficial and want more of and decrease the amount of producing and sharing that happens at ways that we think are destructive and not beneficial, and that we want less of. “