A short article I wrote for my law school journal about smart contracts, which were first conceptualized by @NickSzabo4 in 1996. Legal profession should be at the forefront of adaption and usage. https://news.law.fordham.edu/jcfl/2018/04/26/smart-contracts/ …
By and large great article, but smart Ks are instructions to a computer not to a court. They are for (a) decreasing dependence on legal system to motivate behavior, and (b) controlling the burden of lawsuit. When you have to depend on a court that is what traditional Ks are for.
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Thanks for the feedback, appreciate it.
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Wouldn’t parties opt for an arbitration clause as opposed to a smart k? That way the parties are ensured a timely result and their oppty to present the case
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