What would happen if laws were written and maybe even “executed”, that is applied, as if they were computer software code?
- This is just an excerpt,with some comments of a very interesting article about how little lawmakers know about technology, and software developers about laws and legal systems. The article I’m talking about is “States that are passing laws to govern smart contracts have no idea what they’re doing”. These are the most interesting parts Smart Contracts These Are Not, Yoda says “several states in the US are moving quickly to codify smart contracts into their laws with bills that “seem to be little more than pro-crypto posturing meant to attract investment and entrepreneurs.
The blockchain is one of the two or three foundations of the business model of the century. One of its applications should be “smart contracts”. Unless another idea gets the credit it deserves.