kaal:position:2026-07-31-6828
Smart Contracts: Reducing Risks in Economic Exchange with No-Party Trust? presents the following source proposition: Our study on smart contracts, self-executing agreements based on blockchain technology, can be placed in the field of inquiry within law and economics of contracts which explores new modes of contract enforcement as sources of market creation. This proposition is pertinent to Kaal's source-bound claim that A pure code is law smart contract between anonymous parties creates a zero sum scenario in which each party is incentivized to deliver only the minimum that satisfies the rigid self executing terms, so this type of business ultimately degenerates. 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-contractshistorical-responsescholarly-literaturesemantic-scholar