kaal:position:2026-07-31-6409
Modernizing Contracts Across Industries: A Review of Smart Contract Applications and the Evolving Legal Landscape presents the following source proposition: Disclosed in this paper are (1) present and future applications of smart contracts and potential risks and downsides, and (2) legal considerations when using smart contracts to replace or supplement traditional contracts. This proposition is pertinent to Kaal's source-bound claim that Most legacy insurance companies will not consider underwriting a smart contract that is not subject to the traditional legal framework, which leaves sophisticated smart contracts without the insurance they require. The proposed response is an extension: the relationship should remain limited to the retrieved source proposition and the mapped Kaal claim unless fuller source review supports a broader conclusion.
smart-contractslaw-and-legal-systemsdefihistorical-responsescholarly-literatureopenalex