Great example. I would add here a problem that blockchain solution does not solve and I might say it even makes it hard to fix (but I might be wrong as I don't work with blockchain so maybe I am missing something):
This Smart contract about fixing the park is a virtual thing. But if someones does this kind of job then in real life there is usually someone else who will accept and sign that the work was done accordingly with the requirements.
First, I don't understand how this works.
If everybody in the neighborhood needs to accept the work and sign it then I think it will be very difficult to be a contractor. Because you are suddently at the mercy of all residents to accept the work which is a nightmare as everybody could have a small things to change.
Let's say the residents there will delegate the acceptance to one single person. This case gets more interesting. What if the persone they delegate this acceptance is corrupted and will sign and accept the work but after 2 months the work will break. How do the residents recovery the loss? Will they go to the _centralised_ court? Will they go to the _centralised_ state to help them?
And here goes the problem: what if the crypto dream gets implemented globally so no central authority. What then?
This is another intractable problem with blockchain and cryptocurrencies, known as "the oracle problem" - in order to do something useful in the real world, it has to interact with the real world in some way. There are various schemes to try to offer solutions for automatable processes, but when human decision-making is involved data still has to come from humans who are "off-chain", i.e. have no direct link with the blockchain or cryptocurrency platform.
This Smart contract about fixing the park is a virtual thing. But if someones does this kind of job then in real life there is usually someone else who will accept and sign that the work was done accordingly with the requirements.
First, I don't understand how this works.
If everybody in the neighborhood needs to accept the work and sign it then I think it will be very difficult to be a contractor. Because you are suddently at the mercy of all residents to accept the work which is a nightmare as everybody could have a small things to change.
Let's say the residents there will delegate the acceptance to one single person. This case gets more interesting. What if the persone they delegate this acceptance is corrupted and will sign and accept the work but after 2 months the work will break. How do the residents recovery the loss? Will they go to the _centralised_ court? Will they go to the _centralised_ state to help them? And here goes the problem: what if the crypto dream gets implemented globally so no central authority. What then?