Agreeable Smart Contracts
Who decides whether to terminate a smart contract? Who decides whether a smart contract should change state?
The answer, of course, is that who decides these things is encoded into the smart contract itself, and it will be different for different contracts.
For example, it may be only the smart contract owner who may terminate the contract. Alternatively, maybe the smart contract gives that ability to the two smart contract users who must agree amongst themselves. Or to 3 of the 4 smart contract users who must agree amongst themselves. There are endless possibilities.
We can make this easier, by providing our smart contracts with agreement objects, that ensure that the smart contract enforces those mult-signature agreements between users before doing whatever has been agreed, changing state or maybe even changing the smart contract itself. The choice is endless. For instance, here is an article by this author which describes changing a smart contract following agreement between the smart contract owner and the two users.
A real-world example could be a smart contract that handles last will and testament. In this case, there may be various phases of generating the document, perhaps by some of many solicitors, followed by an approval phase comprising some solicitors and some family members, followed by an execution phase…
