What is the legal status of smart contracts?
An example of an AI chatbot conversation about the legal status of smart contracts.
What is the legal status of smart contracts?
Smart contracts are self-executing contracts with the terms directly written into code. Their legal status varies by jurisdiction.
Are smart contracts recognized in all countries?
No, the recognition of smart contracts differs by country. Some countries have specific regulations, while others do not.
What happens if a smart contract fails?
If a smart contract fails, it may lead to disputes. Legal recourse depends on the jurisdiction and the contract's terms.
Can I enforce a smart contract in court?
Enforcement of a smart contract in court can be complex and depends on local laws and the contract's design.
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