I'm investigating what blockchain technology to use for basically
intercompany asset management assets like laptops, shares, intellectual property and other, more complex contracts where party X agrees with Y on Z.
ethereum looks very suitable but I have a few things that I can't seem to find a clear answer to.
- What if I create a new
privateblockchain with a genesis file, am I stuck forever with this chain and all its contracts? (i.e. is migrating existing data to another blockchain even possible in any way?)
- Is the usecase of
where X agrees on Ydoable? Since contracts cannot read eachothers data. How would you translate existing legal documents to a functional or automated entity? I think that third party, centralized servers would be needed in almost any case where the complexity is slightly more that
transfer X value to Y. Because otherwise contracts are meaningless, other than being registered.
time X expires, then invalidate contract Y.
At the very least I would need to externally trigger a new transaction in the blockchain, whenever that time is past?
And in what degree would it be possible to digitalize human-readable contract, albeit simplified versions of it, would one human-contract equate to one
solidity contract (or LLL or serpent), or would these have to be cut up, and how would they then communicate with eachother?