Smart Contracts: Is the code you execute to do legally relevant real-world transactions (contracts)…
Speaking Code: Smart contracts are a legal chimera: They are both a record in terms of civil procedure documenting the parties agreement in…
Smart Contracts: Is the code you execute to do legally relevant real-world transactions (contracts) relevant if you stated the agreed upon _goal_ in the nl-contract? Yes — responsibility for misbehavior of software is shifted to party who suffered damages
Speaking Code: Smart contracts are a legal chimera: They are both a record in terms of civil procedure documenting the parties agreement in a literal sense as well as the exact code that is to be executed in the network. Thereby, any uncertainty regarding contract execution is diminished barring interruptions of the networks themselves that are involved.
Relevant regarding financial transactions, where transaction logic is actually intimately relevant to success of overarching goals. Especially exchanges and derivative-focused networks such as bitshares.
In other situations, less important: a simple transfer of funds from one address to another as a means of payment in exchange for goods and services will always look the same and follow a standard best-practices implementation, which my evolve overtime.
Exported from Medium on January 3, 2025.