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Thanks for your thoughts! It appears some states are already legally recognizing smart contracts. Contract legality is determined at a state level because there
by cdepman 8y ago
Thanks for your thoughts! It appears some states are already legally recognizing smart contracts. Contract legality is determined at a state level because there is no federal contract law: https://www.technologyreview.com/s/610718/states-that-are-passing-laws-to-govern-smart-contracts-have-no-idea-what-theyre-doing/ https://www.technologyreview.com/s/610718/states-that-are-pa...
Good further reading to understand smart contracts from a US legal perspective:
https://corpgov.law.harvard.edu/2018/05/26/an-introduction-to-smart-contracts-and-their-potential-and-inherent-limitations/ https://corpgov.law.harvard.edu/2018/05/26/an-introduction-t...
Also Ricardian contracts if anyone is interested: https://en.m.wikipedia.org/wiki/Ricardian_contract https://en.m.wikipedia.org/wiki/Ricardian_contract
- stackzero 8y ago> It appears some states are already legally recognizing smart contracts That's good to see. FWIW I don't like the idea of a future where we need special solidity lawyers to verify some code matches its legal obligations. Which is why the Ricardian format is so appealing. It should be accesible to all Btw thanks, that harvard link is a good read!