EuroPols just earned themselves universal idiocy and condemnation from crypto... https://cointelegraph.com/news/europarliament-approves-data-act-that-require... [–]Bucksaway03Platinum | QC: CC 318 | CRO 5 13 points an hour ago "The smart contract shall include internal functions which can reset or instruct the contract to stop or interrupt the operation" Ie. Putting the centralisation back into decentralisation permalink embed save report reply [–]cheeruphumanityPlatinum|QC:CC653,DOGE205,r/CCs.75|r/CMS7|Futurology16 6 points an hour ago Who would use a dapp if the devs could steal your money anytime? We need to vote in better people. permalink embed save parent report reply [–]ablablababla 3 points an hour ago How will they even implement that? That seems difficult to enforce permalink embed save parent report reply [–]arcalusPlatinum | QC: CC 182 5 points 58 minutes ago Wouldn’t be that hard to enforce if the coin is registered on any exchange. Then they can audit the code of the most relevant projects, thereby eliminating any who don’t meet the criteria. permalink embed save parent report reply [–]timbulance 2 points an hour ago Yeah I don’t think they fully understand permalink embed save parent report reply [–]Bucksaway03Platinum | QC: CC 318 | CRO 5 1 point an hour ago Poorly by giving someone the keys to the kingdom permalink embed save parent report reply [–]AESTHTKPlatinum | QC: CC 841, ETH 369 | MANA 8 2 points 53 minutes ago Internal to what 😅 permalink embed save parent report reply [–]FrogmangyTin | CC critic 2 points 53 minutes ago So the goverment wants to be able to rug pull the coin themself permalink embed save parent report reply [–]OfulinacPlatinum | QC: CC 32 4 points an hour ago Kill switches are a dangerous madness permalink embed save report reply [–]AnimeFlamingo 5 points an hour ago I’d like to know how this works technically, is it like a proxy contract? If so, what’s the difference? permalink embed save report reply [–]JustreadingcommentPlatinum | QC: CC 255 9 points an hour ago Aka dumb contracts permalink embed save report reply [–]milonuttigrainPlatinum | QC: CC 1719 | Pers.Fin.NZ 17 3 points an hour ago Centralised shit contract permalink embed save parent report reply [–]ovettaTin 1 point an hour ago Mutable permalink embed save parent report reply [–]JustreadingcommentPlatinum | QC: CC 255 2 points an hour ago What! How does that work permalink embed save report reply [–]The_Chorizo_BanditSilver | QC: CC 846, XRP 41 | TRX 28 2 points an hour ago Is that even possible? Like does it work from a logistical standpoint? permalink embed save report reply [–]cheeruphumanityPlatinum|QC:CC653,DOGE205,r/CCs.75|r/CMS7|Futurology16 5 points an hour ago It might be possible to program for individual apps but it would make them unusable. Nobody would put their money in a dapp that could steal the money anytime. permalink embed save parent report reply [–]RocketMoonShotPlatinum | QC: CC 16 | Accounting 121 1 point an hour ago It's like a trap door. permalink embed save parent report reply [–]Nagax456Tin 2 points an hour ago Lol whats the point of a contract? permalink embed save report reply [–]Titozar13Platinum | QC: CC 42 2 points an hour ago That's against decentralization and is what governments want. permalink embed save report reply [–]StonedRexPlatinum | QC: CC 181 2 points an hour ago Not smart contract anymore permalink embed save report reply [–]timbulance 1 point an hour ago Dumb contracts permalink embed save parent report reply [–]RocketMoonShotPlatinum | QC: CC 16 | Accounting 121 2 points an hour ago Killswitch Engage permalink embed save report reply [–]DadofHomeSilver | QC: CC 248, ETH 16 | LRC 39 | TraderSubs 14 2 points an hour ago 2 choices : (1)Parliament is extremely ignorant of anything computer related , and just incompetent and reactionary .. (2) they are purposely malicious and undermining the space . permalink embed save report reply [–]Shiratori-3Bronze | QC: CC 20 | CRO 43 | ExchSubs 43 2 points an hour ago So they want a rug pull mechanism built in? Doesn't sound like it will end too well .. 😅 permalink embed save report reply [–]BrocoliAssassinSilver | QC: BTC 218, CC 105 | CelsiusNet. 25 2 points an hour ago Awesome, sounds like a horrible idea! permalink embed save report reply [–]pizza-chitfiat miner and burner 2 points an hour ago Who the fuck would use a smart contract that can be altered?? permalink embed save report reply [–]Hamster823 - 4 years account age. 10 - 50 comment karma. 2 points 43 minutes ago Isn't this actually extremely bad news for any smart contract crypto? Centralisation in all decentralised smart contracts, who would trust a Dapp where the developer can interrupt or kill switch the smart contract? I heard someone say that this could class smart contract coins as security's as they will have a centralised governance Smart contracts aren't region specific so abiding by Euro law means kill switch/interruption would have to be worldwide? permalink embed save report reply [–]AESTHTKPlatinum | QC: CC 841, ETH 369 | MANA 8 2 points 18 minutes ago Smart contracts must be printed out, and signed by both parties. permalink embed save report reply [–]bwoksa 2 points an hour ago So that means more scam coins and rugpulls ? permalink embed save report reply [–]Ball_bearingTin | Superstonk 57 2 points an hour ago They are just complying with the law. permalink embed save parent report reply [–]coinfeeds-botApproved CC Bot 1 point an hour ago tldr; The European Parliament passed the Data Act on March 14. The bill was intended to "boost innovation by removing barriers obstructing access to industrial data." Among its provisions is an article that would require smart contracts to be alterable. The act also granted smart contracts equal protection with other forms of contract. This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news here. permalink embed save report reply [–]cheeruphumanityPlatinum|QC:CC653,DOGE205,r/CCs.75|r/CMS7|Futurology16 3 points an hour ago A smart contract is not a contract dummies. It's an app. We need better expressions in the crypto space. Not crypto currencies, crypto assets. Not smart contracts, dapps. permalink embed save parent report reply [–]Whole_Visible 1 point an hour ago Lol. All that hype about crypto startups looking to the EU because of regulatory uncertainty in the US permalink embed save report reply [–]TrokarilozTin 1 point an hour ago Ethereum Classic and others. Time to shine permalink embed save report reply [–]AutisticGayBear69Tin | r/WSB 15 1 point an hour ago How do they plan on enforcing this? permalink embed save report reply [–]flawlessfear1Tin 1 point an hour ago So contracts nobody will want part of. Cool ill stick to bitcoin permalink embed save report reply [–]Marrr_tyPlatinum | QC: CC 439 | LRC 7 1 point 12 minutes ago That doesn’t sound smart permalink embed save report reply