is Smart Contract legally accepted? - page 2.

Partout

newbie

Activity: 14

Merit: 0

Quote from: ALT67890 on October 18, 2017, 03:28:54 AM

That’s is the right thing to do and necessary. Who can answer those question other than a legal expert itself. Looking forward to any updates from you. And hope that would be a good news but whatever the outcome is smart contract will be available wether it’s legal or not.

exactly.
also, if contracts open for audit and comply with local regulations, I don't see any problem.
still, it may have some "underwater stones".

ALT67890

full member

Activity: 126

Merit: 100

Quote from: Partout on October 18, 2017, 03:18:05 AM

I've set up a meeting with a representative of a large International Law firm.
a. will try to find more about the current status of the smart contract.
b. wonder if Law firm can back up such a contracts.

That’s is the right thing to do and necessary. Who can answer those question other than a legal expert itself. Looking forward to any updates from you. And hope that would be a good news but whatever the outcome is smart contract will be available wether it’s legal or not.

Partout

newbie

Activity: 14

Merit: 0

I've set up a meeting with a representative of a large International Law firm.
a. will try to find more about the current status of the smart contract.
b. wonder if Law firm can back up such a contracts.

Sungoku

sr. member

Activity: 462

Merit: 257

Quote from: Partout on October 17, 2017, 07:57:07 AM

Is there are countries where Smart Contract accepted by a court?

I also think smart contract is just the latest breakthrough to build a business,
legalization is needed, but not all countries legalize

sotoshihero

hero member

Activity: 850

Merit: 504

Quote from: anasso on October 17, 2017, 03:38:43 PM

smart contract will be accepted only if contry made laws that regulate it!

and then the smart contract must repect ligislation!

for exemple if you want to hire someone, your smart contract has no legal value if he don't respect laws!

Thats the sad truth and investors are not protected, If say for example something happens, it will just pop and seems nothing happened if the project fails. I am in favor of countries to regulate this iCO etc.

Partout

newbie

Activity: 14

Merit: 0

Quote from: anasso on October 17, 2017, 03:38:43 PM

smart contract will be accepted only if contry made laws that regulate it!
and then the smart contract must repect ligislation!

it reminds me a story with a dashboard camera.
From technical perspective its a proof, but since it's not regulated mostly not accepted by the court.
So, I guess, it's a matter of time and reliability of the technology when it will be started to be accepted.

anasso

full member

Activity: 224

Merit: 100

smart contract will be accepted only if contry made laws that regulate it!

and then the smart contract must repect ligislation!

for exemple if you want to hire someone, your smart contract has no legal value if he don't respect laws!

iqlimasyadiqa

legendary

Activity: 1596

Merit: 1011

Quote from: shinratensei_ on October 17, 2017, 08:12:01 AM

Quote from: Partout on October 17, 2017, 07:57:07 AM

Is there are countries where Smart Contract accepted by a court?

There is no country that accepts the smart contract because that was already accepted around the world, Did you ever read the more about the rules of the technology. And all of the technology will be legally accepted in anywhere. Smart contract just a code and is that makes sense to think that will not be accepted by the country? You talk about the non-sense thing and the code doesn't have any relationship with the legalism.

A very clever opinion, I also think that way because today's digital currency can be used freely. although there is a ban from a country but that will not stop the distribution of digital currency in the country. the internet can be accessed from anywhere and this is the advantages of digitalization, although there is a firewall but it is all useless because technology continues to evolve all the time. The smart contract is one part of the token and the project initiated by etherum. this is the same as bitcoin, the development of smart contracts, altcoin and bitcoin always increase every time.

Qpeep

full member

Activity: 140

Merit: 100

I guess that of the "smart conteract" you are missing the "smart" part. They are smart because they DON'T NEED a court to rule on them because they rule on themselves through determinuistic mechanisms.

Partout

newbie

Activity: 14

Merit: 0

Quote from: yillusion on October 17, 2017, 07:59:45 AM

i think there is no court will do it now, the smart contract is not strong and complete enough, especially case can be complex enough that people can hardly do the right judgement.

what if a smart contract is fulfilled by a service provider and confirmed by an independent service,
so, the service provider would like to use it as proof of delivery of service in Court dispute?

shinratensei_

legendary

Activity: 3276

Merit: 1029

Leading Crypto Sports Betting & Casino Platform

Quote from: Partout on October 17, 2017, 07:57:07 AM

Is there are countries where Smart Contract accepted by a court?

There is no country that accepts the smart contract because that was already accepted around the world, Did you ever read the more about the rules of the technology. And all of the technology will be legally accepted in anywhere. Smart contract just a code and is that makes sense to think that will not be accepted by the country? You talk about the non-sense thing and the code doesn't have any relationship with the legalism.

kumiskura

full member

Activity: 632

Merit: 122

lol...
hell no!
even till now,Bitcoin still not yet legally accepted aka regulated.
only their exchanger regulated under law.
it's very hard to get accepted because if that thing happen,there'll be another bubble created.
and i am afraid a lot of people will suffer because of it.
that is also the reason why many countries still not accepting cryptocurrency.

yillusion

full member

Activity: 280

Merit: 122

Quote from: Partout on October 17, 2017, 07:57:07 AM

Is there are countries where Smart Contract accepted by a court?

i think there is no court will do it now, the smart contract is not strong and complete enough, especially case can be complex enough that people can hardly do the right judgement.

Partout

newbie

Activity: 14

Merit: 0

Are there countries where Smart Contract accepted by a court?

Topic: is Smart Contract legally accepted? - page 2. (Read 995 times)