“The term ‘smart contract’ refers to computer code that is designed automatically to execute contractual duties upon the occurrence of a trigger event. Referring to a 1997 paper by Szabo, the simple example of a vending machine is often cited to explain the concept: upon insertion of a specific type of coin, the computer programme instructs the machine to release the good. Yet, there are different ways to understand the term ‘smart contract’ …” (more)
[Philipp Paech, Oxford Business Law Blog, 9 July]
First posted 2018-07-10 22:46:37
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