kaal:claim:3406323-031

Smart contracts remove centralized guarantors and self-regulate, with the consequence that only limited legal recourse is available if execution of the contract terms goes wrong.

Source quote, verbatim
Most importantly, the smart contract removes centralized guarantors. The smart contract self-regulates. Only limited legal recourse is available if something goes wrong in the execution of the terms of the contract.
From

Wulf A. Kaal, Decentralization - A Primer on the New Economy (2019), VI. Evolution, p. 16
https://ssrn.com/abstract=3406323 · source PDF

Cite as

Wulf A. Kaal, Decentralization - A Primer on the New Economy (2019). SSRN: https://ssrn.com/abstract=3406323

Classification

mechanismsupport: arguedsmart-contractslaw-and-legal-systems

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