‘In Code(r) We Trust? Rethinking “Trustless” Smart Contracts’

“Trust is an integral aspect of all human relationships. Trust facilitates social cooperation and coordination. Contractual relationships are no exception. Non-legal mechanisms such as reputation and societal constraints may induce parties to perform their end of the bargain. However, in the event of non-performance, a promisee can rely on the ‘system’ of contract law with its established rules, principles, and institutions to ensure their bargain is upheld or else seek a suitable legal remedy …” (more)

[Mimi Zou, Grace Cheng and Marta Soria Heredia, Oxford Business Law Blog, 7 June]

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