2017 | Agosto 8
Once bitcoin was created, there appeared a necessity to resolve disputes that emerge in decentralized society. The rise of Ethereum and smart-contracts emerged in recent years and intensified the request for a decentralized type of legal entity, capable of providing answers to all types of smart questions.
A few years ago a group of enthusiasts inspired with the technology proclaimed that: “Code is law.”
Though, right now we are witnessing how governments of different countries are trying to employ this principle in an inverted manner, attempting to establish the rules of existence for programmable code.
Nonetheless, this is not the only way to resolve disputes in a decentralized financial ecosystem, there are other options coming into the spotlight. Code could be regarded as a base for a new type of digital jurisdiction, rather than subject of regulation.