This article presents a number of open questions for a forthcoming Special Issue of the Journal of Law, Information and Science. It asks how smart contracts might move from technologically feasible aspiration to legal and commercial reality.
It suggests that a firm legal foundation is needed for both cryptoassets and smart contracts, before regulation is considered. Uses for end-to-end smart contracts without cryptoassets should also be considered. A streamlined builtin dispute resolution system would give investors and mainstream markets the confidence needed to allow the use of smart contracts to grow. Lawyers need to make a persuasive case so that they and coders can come together to develop the potential that smart contracts offer to the economies and financial communities of the future.
For authors intending to submit to the Special Issue, please email firstname.lastname@example.org for a PDF copy of this paper.
© 2012 Journal of Law, Information & Science and Faculty of Law, University of Tasmania.