3 ms·

It seems there are two logical assumptions being made here that are, in my opinion, inconclusive to say the least. That is first, the idea that the law cannot a

• jacques_chester 8y ago
  The common law already recognises unincorporated associations and there is a rich body of caselaw and legislation built around them. But the point is not whether there is an adversarial relationship with the law. The basic concept of the judicial system is that it is an impartial mechanism for settling disputes and punishing crimes. The impartiality has no bearing on smart contracts except so far as they will be considered to resemble existing principles of contract, unincorporated associations and the like. The common law typically upholds private agreements and typically defers to private rulemaking where it does not have an overriding principle that must be applied. But ultimately there will be disputes about what the smart contract was meant to be, or about whether a vote was legitimate, whether the principles of natural justice have been observed and so on and so forth. One or more parties to the scheme will ask the justice system to settle the dispute and there will be times where the justice system will in fact do so. And it will be able to enforce its decisions against someone's will and without any need to follow the code.