# kaal:claim:3782214-015

**Claim.** 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.

**Type.** failure  **Support.** argued

**Holds when.**

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

**Source quote.**

> 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.

**From.** Craig Calcaterra, Wulf A. Kaal, *Decentralized Governance* (2021), Decentralized governance with new IT tools, page 8

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

**Verify.** sha256 of source PDF `ba892bb200c1455447c0014f5067a501a93ea9ec413c31942d95952eb3bdfd9d` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Calcaterra%20and%20Kaal%20-%202021%20-%20Decentralized%20Governance.pdf

**Failure mode.** irreversible self execution  (family: smart-contract-rigidity)

**Topics.** smart-contracts, compliance, systemic-risk, law-and-legal-systems

**Keywords.** code-is-law, smart-contracts, contract-enforcement, dispute-resolution

**Related claims.**

- restated_by: https://wulfkaal.github.io/claims/4067783-022
- restated_by: https://wulfkaal.github.io/claims/4067783-020
- restated_by: https://wulfkaal.github.io/claims/4067783-021
- extends: https://wulfkaal.github.io/claims/3227933-017

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.