Blockchains & Smart Contracts
WikiDeal is an ongoing research and development project. It explores a fundamental hypothesis about participative e-commerce: Can we create an e-commerce platform that is simultaneously ethical, participative, low-cost, and economically self-sustaining — without relying on advertising, speculation, or shareholder profit?
1. What are Smart Contracts?
A Smart Contract is a self-executing program stored on a blockchain. Once its conditions are met, it executes automatically — without requiring human validation, a notary, or a central authority. Smart contracts are transparent, tamper-proof, and enforceable by code rather than by courts.
2. When are Smart Contracts Useful in WikiDeal?
Smart contracts are particularly well-suited for WikiDeal deals that:
- Do not require human validation to execute (e.g., automatic payment release upon confirmed delivery)
- Require financial security guarantees (escrow, conditional payment)
- Involve high-value or high-risk transactions where code-enforced execution adds trust
Inversely, contracts like babysitting, bike loans, consulting, or neighborhood services do NOT necessarily require blockchain from day one. A progressive transition model is used: blockchain smart contracts are activated based on the utility and complexity of each contract type.
3. Decentralized Data — A Parallel Principle
Independent from blockchain, WikiDeal also embraces decentralized data storage. While not the same technology, it shares the same intention: giving users control over which data they share, with transparency and security principles drawn from blockchain culture. Users choose what they reveal, to whom, and under what conditions.
4. Energy-Efficient Blockchains Only
WikiDeal commits to using only low-energy blockchains. Bitcoin-style proof-of-work is excluded. Priority goes to:
- Ethereum (post-Merge, proof-of-stake)
- Other energy-efficient Layer 1 and Layer 2 solutions
Specific tools and protocols will be studied and selected through the Smart Contract Observatory (see Market → Observatories).
5. The Smart Contract Observatory
A dedicated observatory will track the evolution of smart contract standards, tools, and best practices relevant to WikiDeal. It will publish regular reports and feed into Open Call proposals.