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?