Defining Smart Contracts Under English Law
The mantra commonly spouted amongst early Ethereum developers was the idea that “Code is Law”….
The mantra commonly spouted amongst early Ethereum developers was the idea that “Code is Law”. It was the view of many others that might know better that this was a somewhat spurious argument all along. Code is in fact code, and the law is still the law.
However, accepting that the concept of Smart Contracts will naturally become more prevalent as decentralised blockchain networks gain wider adoption, the Law Commission of England & Wales recently put out a Call for Evidence to explore how Smart Contracts should be interpreted under current English Law in order to assess whether dedicated legislation might be required in order to allow them to be fully utilised as intended.
Sarah & Sam joined Ian Taylor to discuss their findings.
Get the newsletter with the inside track from crypto founders and analysts