Beyond the Smart Contract Hype: Lawyers Dispute Promise of Self-Executing Contracts
Blockchain attorney Joe Dewey lends his experience to an article that covers the pros and cons of smart contracts. One huge benefit of smart contracts is the ability to automatically execute the terms of an agreement, such as a transfer of funds, on the blockchain which means they do away with the need of intermediaries.
"You can begin to see changes in how some smart contracts platforms are marketed," Mr. Dewey said.
"A lot of them began as platforms geared toward blockchain, and if you look at them today a lot of the focus is on automation. If you write a contract, a legal one in computer code, you’re going to have some practical difficulties in enforcing it... judges don’t read code [and] juries don’t read code."
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