Multichain: Rethinking smart contract

+3 votes

How would you explain this argument for smart contract in permissioned blockchain? For some of the use cases I have in mind, I observed that I have to implement multi-stage transaction logics as an application on top of Multichain. The problem i see with this is: it sort of looks centralized or introduces issues of trust because the server running the business logic is sort of completely in control of a single entity.

For example, if I want to implement a loyalty scheme for a franchise. So am thinking, it is actually possible for one of the franchise partners to collude with the server hosting the core application to change the logic in such a way as to favour that partner (i don't have an example of what that collusion may be, but I guess you would agree that it is possible).

Smart contract would avoid this because the logic would be on the blockchain. How does Multichain handle this? Or is my thinking flawed in some way?

asked May 4, 2017 by Rosevelt

1 Answer

+1 vote
If you need a full Turing-complete smart contracting machine running on the blockchain, then indeed you cannot do this on MultiChain, and we would recommend seeking a solution elsewhere.

But for the vast majority of use cases, we find that people don't actually need this, and assets + streams would suffice. Do you want to tell us what you are trying to do with this loyalty point scheme, that you believe would require smart contracts?
answered May 5, 2017 by MultiChain