New York Senate Is Coding Real Life! ๐๏ธ๐
New York is back at it again with the ORACLE Bill! ๐๏ธ๐ This re-proposed legislation aims to manage how smart contracts handle data from real-world events, making sure digital agreements don't lose touch with reality. ๐โจ
From an economic perspective, this is a masterclass in "Oracle Reliability." If we want blockchain to eventually handle massive insurance or supply chain contracts, the data inputs must be legally sound and bulletproof. ๐ก๏ธ๐
It is a vital step toward merging code with physical reality, ensuring that "Code is Law" actually makes sense in our daily lives. ๐๐ค
By setting these rules, New York is trying to bridge the gap between complex algorithms and tangible events. Who knew lawmakers were becoming so tech-savvy? ๐ฆ๐