Shogo Ochiai
Mar 7 · Last update 1 mo. ago.
Blockchain and legal representative.
Blockchain can be run anoymously. Especially the chain with expressive smart contract would achieve much more complex behaviors. What if in the future, smart contracts violates some countries law, and governments cannot afford to ignore the smart contract? As per Cypherpunk Manifest at 1988 by Tim May (R.I.P.), P2P technology will eat this world and there's no way to mitigate it for us. Is the smart contract for avoiding liability good thing? Is there any way to deal with smart contract via current legal system? Gimme your opinion.
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Blockchain will reward the adventurous
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Smart contracts and law need to be synchronised
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Blockchain will reward the adventurous

Any government that attempts to slow down the implementation of innovative technology will ultimately by left behind. Blockchain solutions may revolutionise most bureaucratic systems, making things quicker, cheaper and more efficient, the countries that repress or slow the advantageous innovations will simply fall behind. Others that embrace change will reap the benefits as solutions such as smart contracts becomes increasingly ubiquitous, and increased efficiency leads to economic reward. Countries may need to collectively discuss changes to law to deal with the legal disruptions peer to peer technology could lead to, and countries may even need to pass online encryption constitutions collectively, opting in to avoid legal grey areas or loopholes being exploited.

coincentral.com/blockchain-and-law

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Smart contracts and law need to be synchronised

Most state’s laws function to protect people in the state or the state itself, allowing individuals to avoid liability in this respect is a damaging prospect for the security of a society. The blockchain advocacy group Chamber of Digital Commerce, have published a white paper that attempts to establish what constitutes a legally binding smart contract and how they can operate in legitimate way within a legal system. There is a great need for a thorough investigation regarding how smart contracts can be used within a state’s legal framework, but as this technology moves forward there will similarly be a need for progression in lawmaking. digitalchamber.org/smart-contracts-paper-press

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