Lawyer’s Perspective- Why Smart Contracts Are So Important for Our Society
Enforcement has always been that turtle carrying the world of law regulation on its back. However, you never can be 100% sure in the efficiency and speed of executive obligations.
Recent independent efforts to prevent civil wrongdoings have led to the creation of smart contracts. They may look like a perfect substitute for classic agreements, but are they? It seems that they may have their own problems, and their enforcement may be more expensive than we think.
So, what to choose? Old and well-tried formal enforcement or cutting-edge and callow smart contracts? Here are some thoughts from a real lawyer in an exclusive op-ed for lawless.tech.