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I'm not defending "code-is-law" as a valid solution to this, but wouldn't a smart contract require the cash (crypto) to be sent in before allocating equity? The

I'm not defending "code-is-law" as a valid solution to this, but wouldn't a smart contract require the cash (crypto) to be sent in before allocating equity? The issue in this situation is that no money was ever wired. In a smart contract, that means the "invest" function would not be executed and the "equity tokens" not assigned.

khuey 9y ago
Yes, it would. In the real world requiring "payment up front" for all contracts isn't really feasible. A lot of low-margin businesses live or die on the cash flow terms of their contracts.