Smart contracts and the two phases of contracting
Talking about smart contracts, there are different perspectives of looking at the concept and its wider implications. One that is probably…
Smart contracts and the two phases of contracting
Talking about smart contracts, there are different perspectives of looking at the concept and its wider implications. One that is probably fairly overlooked by the people who develop the infrastructure to safely execute such software-driven contracts, is the other phase of contracting, the one preceding the binding commitment to a specific formalized agreement.
As Szabo points out, there are two phases of contracting:
1) Ex-Ante
Search
Negotiation
Commitment
2) Ex-Post
Performance
Adjudication
Exported from Medium on January 3, 2025.