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> The legal system is there to resolve disputes, not facilitate transactions. Disputes without transactions don’t mean much. The legal system (at least the civ
by avianlyric 5y ago
> The legal system is there to resolve disputes, not facilitate transactions.
Disputes without transactions don’t mean much. The legal system (at least the civil portion of it) exists solely to facilitate transactions, it’s just that normally those transactions are formalised in contracts.
Providing an adjudication service who decisions can be enforced with state violence, makes it much easier for people to have confidence in the value of contracts, and thus perform more complex transactions. The civil courts provide exactly this service, for the pure purposes of making transactions between private individuals easier and more enforceable without individuals resorting to vigilante justice.
- thebean11 5y agoWould having the contract defined in immutable, executable code also allow performing more complex transactions with confidence, in your opinion?
- avianlyric 5y agoNo. Immutable executable code can’t turn up at my house and take my possessions, nor can it easily validate my behaviour in meatspace.