Complete and incomplete smart contracts

Smart contracts on the Blockchain allows contractual agreements to be automatically, autonomously, and securely executed. A complete contract specifies what is to occur under every possible contingency. An incomplete contract allows the terms of the contract to be renegotiated in the case of unexpected events. The real gains to be made in the Blockchain revolution, we suggest, are in developing better and more powerful oracles that convert incomplete contracts to contracts that are sufficiently complete to be written Algorithmically and executed on the Blockchain.