Smart contracts v smart legal contracts
There’s often uncertainty about whether blockchain smart contracts are legally binding. Thanks to the use of the term ‘contract’ there’s a lot of confusion when in reality smart contracts are just programming code. That’s not what Accord is about. Instead, the organization’s focus is on legal contracts that are smart and intentionally legally binding. Their definition: “A smart legal contract represents the technological evolution of traditional, paper-based legal agreements. A smart legal contract is a legally binding agreement that is embodied in digital form and that has at least some terms and conditions represented in computer code.”Article continues …
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