Coding regulatory conditions into smart contracts lowers regulators' cost of supervision and enforcement while substantially increasing their oversight, because a smart contract cannot execute unless all regulatory conditions and parameters are fully complied with.
Source quote, verbatim
Second, because smart contracts cannot execute unless all regulatory conditions and parameters are fully complied with, regulators lower their cost of supervision and enforcement while substantially increasing their oversight
From
Wulf A. Kaal, Craig Calcaterra, Crypto Transaction Dispute Resolution (2017), b) Coding Existing Law Into Smart Contracts, p. 44 https://ssrn.com/abstract=2992962 · source PDF
hybrid approach where existing legal rules are coded as smart contract parameters
Classification
designsupport: arguedcompliancesmart-contracts
Related claims
contested_bykaal:claim:4796714-015 When decentralization at the Layer 1 level is compromised, the autonomy of the smart contracts deployed on tha...
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