Smart Contracts Explained: Why They Can’t Fully Replace Lawyers – Knowledge@Wharton Podcast

‘Smart’ contracts on the blockchain are generating a lot of interest because of their innovative nature and potential to substantially boost efficiency in many areas of law and business. But these contracts — digital agreements that automatically fulfill themselves — come with serious limitations as well.

Kevin Werbach and Nicolas (Nico) Cornell, both Wharton professors of legal studies and business ethics, recently spoke with Knowledge@Wharton about their paper on smart contracts, “Contracts Ex Machina,” which literally means ‘contracts from the machine’ — a nod to Greek tragedy’s deus ex machina plot device. The question they tackled was this: Could smart contracts one day replace contract law?

More at: Smart Contracts Explained: Why They Can’t Fully Replace Lawyers – Knowledge@Wharton Podcast

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