kaal:claim:3782214-015

Rigid code is law smart contracts over fungible currency are built to guarantee irreversible, unreviewable, self executing outcomes, which is a poor match for business because business ventures very rarely proceed exactly as imagined at the outset.

Further, rigid "code is law" smart contracts involving fungible currency exchanges are designed to guarantee irreversible, unreviewable, programmed self-execution. Very rarely does any business venture proceed exactly as imagined from the begin- ning.

Craig Calcaterra, Wulf A. Kaal, Decentralized Governance (2021), Decentralized governance with new IT tools, p. 8
https://ssrn.com/abstract=3782214 · source PDF

Craig Calcaterra, Wulf A. Kaal, Decentralized Governance (2021). SSRN: https://ssrn.com/abstract=3782214

• contracts involving fungible currency exchange
• commercial arrangements with uncertain execution

failuresupport: arguedfailure: irreversible self executionfamily: smart-contract-rigiditysmart-contractscompliancesystemic-risklaw-and-legal-systems

• restated_by kaal:claim:4067783-022 Effective business dealing requires that counterparties have confidence a fair resolution will occur when tran...
• restated_by kaal:claim:4067783-020 Smart contracts that govern fungible currency exchanges are engineered for irreversible, unreviewable, program...
• restated_by kaal:claim:4067783-021 Code is law fails as a complete business ordering because business ventures very rarely proceed exactly as wri...
• extends kaal:claim:3227933-017 A smart contract is a computer program code or protocol that automates the verification, execution, and enforc...

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