kaal:claim:2992962-025

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

Cite as

Wulf A. Kaal, Craig Calcaterra, Crypto Transaction Dispute Resolution (2017). SSRN: https://ssrn.com/abstract=2992962

Holds when

hybrid approach where existing legal rules are coded as smart contract parameters

Classification

designsupport: arguedcompliancesmart-contracts

Related claims

contested_by kaal: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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