Learn Daml: How to Initiate & Accept Actions

Table of Contents

1. Introduction
2. The Importance of Working Together
   1. The Meaning of "It Takes Two to Tango"
   2. Collaborative Efforts in Real-World Contracts
3. The Initiate and Accept Pattern
   1. Understanding the Pattern
   2. Proposal and Acceptance in Contracts
4. The Problem: Kids Growing Up Too Smart
   1. Three Phases of Smart Kids
   2. The Strange Phase Three
5. A Win-Win Solution with Smart Contracts
   1. The Concept of Smart Contract Apps
   2. Formalizing Paid Chores with Smart Contracts
6. Checklist for Implementing Smart Contracts
   1. Tracking Something of Value
   2. Data Change and History in Contracts
   3. Actions and the Release of Funds
7. Components of the Architecture
   1. The Asset: V Bucks and Cash
   2. Parties Involved: Child and Parent
   3. Data Tracking: Completed Chores Checklist
   4. Business Logic: Awarding V Bucks for Completed Chores
8. Implementing the Architecture
   1. Creating the Demo Project
   2. Building the Smart Contract Application a. Child's Choices: Proposal and Revision b. Parent's Choices: Reject and Accept c. Chore Description and Feedback
   3. Testing the Smart Contract in the Navigator Sandbox
9. Conclusion

Smart Contracts: Simplifying Paid Chores and Negotiations

In the real world, many interactions and transactions require the collaboration of multiple parties. Contracts involving two or more signatories often introduce complexities that need to be managed. This article explores the concept of smart contracts and how they can be used to formalize agreements for paid chores between parents and children.

Introduction

Contracts are essential for establishing agreements, ensuring Clarity, and avoiding misunderstandings. Typically, contracts involve parties coming together to define terms, obligations, and rewards. However, when it comes to agreements between parents and children, the dynamics can be unique and challenging to navigate. This article delves into the concept of smart contracts, specifically the initiate and accept pattern, as a solution for formalizing paid chores and negotiations between parents and children.

The Importance of Working Together

The Meaning of "It Takes Two to Tango"

The saying "it takes two to tango" implies that certain tasks and endeavors require the collaboration and cooperation of multiple parties. In the Context of contracts, this means that both signatories must work together to achieve a desired outcome. By understanding this concept, we can better grasp the need for collaborative efforts when formalizing agreements between parents and children.

Collaborative Efforts in Real-World Contracts

In the real world, contracts often involve more than two signatories. These multi-party agreements require careful coordination and Consensus among all parties involved. Collaborative efforts are necessary to ensure that all parties' interests are represented and that the contract's terms are fair and mutually beneficial.

The Initiate and Accept Pattern

Understanding the Pattern

The initiate and accept pattern is a common approach used in contracts that involve two parties. In this pattern, one signatory initiates a proposal, while the other signatory accepts it. Once both parties agree to the terms of the proposal, they become signatories to the contract. This pattern simplifies the negotiation process and ensures that both parties have acknowledged and authorized the agreement.

Proposal and Acceptance in Contracts

When it comes to parents and children negotiating paid chores, the initiate and accept pattern can be applied effectively. The child can initiate a proposal, outlining the chore they are willing to undertake and the compensation they expect. The parent then has the option to accept or reject the proposal, providing feedback or suggesting revisions if necessary. Once both parties are satisfied with the terms, they can proceed to formalize the agreement and become signatories to the contract.

The Problem: Kids Growing Up Too Smart

Three Phases of Smart Kids

As children grow up, they become more capable and independent. There are typically three phases in which children's abilities and responsibilities evolve. In the first phase, children are too young to perform chores or contribute significantly to household tasks. However, as they get older, they become capable of assisting with chores and may expect compensation for their efforts. This leads to the third phase, where some children become more assertive and demand payment for every task they undertake.

The Strange Phase Three

Phase three can be a challenging time for parents, as their children start negotiating and demanding payment for various activities. For example, children may ask for specific amounts of money to purchase in-game tokens or other virtual assets. These requests can be overwhelming for parents, who may see them as unreasonable or excessive. Balancing parental responsibilities, financial considerations, and children's desires requires an innovative and mutually agreeable solution.

A Win-Win Solution with Smart Contracts

The Concept of Smart Contract Apps

To address the challenges of negotiating and managing paid chores, a smart contract app can provide a viable solution. A smart contract app facilitates the formalization of agreements between parents and children, enabling them to programmatically define and track tasks, compensation, and completion criteria. By leveraging the power of blockchain technology, these smart contract apps ensure transparency, immutability, and accountability within the agreement.

Formalizing Paid Chores with Smart Contracts

Using a smart contract app, parents and children can Create a formal contract for paid chores. The child can propose the chore they are willing to undertake, along with the compensation they expect. The parent can choose to accept or reject the proposal, engaging in negotiations if required. Once both parties reach an agreement, the smart contract is created, and both parent and child become signatories. This win-win solution provides a structured approach to managing paid chores, keeping both parents and children satisfied.

Checklist for Implementing Smart Contracts

When developing smart contracts for paid chores, it is crucial to consider the following checklist:

Tracking Something of Value

Ensure that the smart contract app allows for tracking something of value. In the case of paid chores, this could be the completion of specific tasks or the accumulation of points or tokens, representing the child's efforts.

Data Change and History in Contracts

The ability to track and Record changes in data is essential. The smart contract app should maintain a history of completed chores, negotiated terms, and agreements to avoid any dispute or misunderstanding between parents and children.

Actions and the Release of Funds

Define the actions that can be taken once a chore is completed, such as releasing the agreed-upon compensation. Having clear guidelines in place ensures transparency and accountability within the contract.

Components of the Architecture

To implement a smart contract app for paid chores, several components are required:

The Asset: V Bucks and Cash

In the context of virtual currencies and gaming, assets like V Bucks or cash are necessary to purchase in-game items or rewards. These assets hold value for both children and parents and can be used as compensation for completed chores.

Parties Involved: Child and Parent

The primary parties involved in the smart contract app are the child and the parent. The child proposes the chore and the compensation, while the parent has the authority to accept or reject the proposal.

Data Tracking: Completed Chores Checklist

To keep track of completed chores and ensure accurate compensation, a checklist of completed tasks is essential. This checklist can be recorded within the smart contract app and serve as evidence of completed work.

Business Logic: Awarding V Bucks for Completed Chores

The business logic of the smart contract app should define how V Bucks or compensation will be awarded for successfully completing chores. This logic ensures that the child's efforts are appropriately recognized and rewarded.

Implementing the Architecture

To implement the smart contract app architecture for paid chores, follow these steps:

1. Create a new demo project using the empty skeleton template.
2. Set up the necessary parties involved, such as the child and the parent.
3. Develop the smart contract application using the provided templates for the child's choices (proposal and revision) and the parent's choices (reject and accept).
4. Define the chore description and feedback fields to facilitate communication and negotiation.
5. Test the smart contract in the provided sandbox and navigator environments.

Conclusion

By leveraging smart contracts, parents and children can simplify the process of negotiating and managing paid chores. The initiate and accept pattern allows for clear communication and mutual agreement between parties. With the ability to track chores, compensation, and history in a transparent and immutable manner, smart contract apps offer a win-win solution for parents and children alike. Through collaboration and technology, the complexities of negotiating paid chores can be transformed into straightforward and fair agreements.