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Ethereum cannot guarantee anything about enforcement costs if the real-life courts get involved. They have jurisdiction, and will definitely end up being involv
by twblalock 10y ago
Ethereum cannot guarantee anything about enforcement costs if the real-life courts get involved. They have jurisdiction, and will definitely end up being involved if two parties to an Ethereum contract sue each other in real life. Ethereum does not exist in some kind of alternate reality outside of the legal system and contract law.
- smallnamespace 10y agoSure, but by the same token, if Ethereum effectively automates the 1) specification and 2) execution of contracts in the vast majority of cases, then the expected probability of ending up in a courtroom falls compared to doing transactions elsewhere. Unfortunately, it's still too early to say whether that will happen or not.