Smart contracts and transactions are seen as the blockchain transforming the whole process of buying and supplying services. Stripping out cost and greedy third parties that charge too heavily for trust in contracts.
You'd think that after 8 years or so a critical blunder like this would not happen.
Commerce, finance, insurance, banking, consulting all rely on rectification of mistakes, reconciling of misunderstanding and the application of the principle of "reasonableness" in law.
Looks like Blockchain has some major questions to answer! Not to mention Parity Technologies.
More than $150m (£115m) of a crypto-currency called Ethereum may have been permanently frozen after a code bug was accidentally triggered. The bug was in code written by Parity Technologies to create digital wallets holding virtual coins - called Ether. It let someone hunting for bugs become the joint owner of hundreds of wallets. However, when the unidentified person tried to reverse their mistake they stopped the original owners of the wallets getting access too.
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