Legal analysis of Smart Contracts' implementation
A pathway to the digital exchange
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Every age has its potential regulator, its threat to liberty.Throughout centuries, economic history has witnessed enormous crises generating turmoil in the global economic order. Despite policymakers'endeavors to outrun turbulentwaters and weather a number of storms, from the great depression to the great recession, parties still suffer from a lack of trust in centralized control. Parallelly, a conceptual disarray was raised in the late nineteenth and early twentieth centuries about received contract law's axioms and purposes, and whether trust and contracts are mutually exclusive. Until "the ...
Every age has its potential regulator, its threat to liberty.Throughout centuries, economic history has witnessed enormous crises generating turmoil in the global economic order. Despite policymakers'endeavors to outrun turbulentwaters and weather a number of storms, from the great depression to the great recession, parties still suffer from a lack of trust in centralized control. Parallelly, a conceptual disarray was raised in the late nineteenth and early twentieth centuries about received contract law's axioms and purposes, and whether trust and contracts are mutually exclusive. Until "the technological genie has been unleashed from its bottle": The blockchain. [..] The law usually creates a system for everything within its scope in order to give it an aspect of legality. It is noticeable that technology has exceeded this point. By simply stepping back, we can distinguish that technology in general and smart contracts among others have been able to transgress in one way or another the normative force of the law.
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