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To those who asked: A smart contract runs with the predictability of code. Courts don't. In particular, arbitration clauses are often not upheld.
by mode80 10y ago
To those who asked: A smart contract runs with the predictability of code. Courts don't. In particular, arbitration clauses are often not upheld.
- will_brown 10y agoCourts run with the predictability of law/codes...it's one of the reason 90% of cases settle without trial. If an arbitration clause isn't held up, it's not because of unpredictability of the court it's because the clause runs afoul of the actual law/code the court applies which is predictable. Moreover, smart contracts are not going to permit parties to circumvent law, in other words a smart contract arbitration clause would not be enforceable in a jurisdiction they are not otherwise enforceable.
- mannykannot 10y agoAnd with all the reliability and security of code. See, for example, the DAO fiasco.
- contravariant 10y agoInterestingly this can be considered both an argument against and in favour of smart contracts.