Publication
Regulation Around the World: Open Finance
In this issue of Regulation Around the World we look at how regulators are developing their proposals for Open Finance.
Blockchain law: Can there be law without people?
New York Law Journal
Two seemingly unrelated recent developments in the world of blockchain are now posing the same odd question: Can there be law without people?
Blockchain technology has enabled a world of “smart contracts”—programs stored on the blockchain that automatically run and carry out predetermined tasks when predetermined conditions are met. These smart contracts are often integrated with so-called decentralized autonomous organization (DAOs), loose groups of tokenholders who effectuate decision making through software protocols.
Can DAOs, natural persons or other legal entities be held legally responsible when outcomes that are caused or enabled by those “smart contracts” are ones that society seeks to prevent and hold unlawful? Or is no one legally responsible, so that whatever these “smart contracts” might do is simply beyond the power of the institution of the law to remedy or prevent?
Robert A. Schwinger explores recent developments in this edition of his New York Law Journal Blockchain law column.
Download the full New York Law Journal article, "Can there be law without people?"
Partner
Email
robert.schwinger@nortonrosefulbright.com
Recent publications
Publication
Do your tech and outsourcing contracts address cyber incidents?
Most incidents handled by our Norton Rose Fulbright cyber team originate from the customer’s service provider. In many cases it is the service provider’s systems, infrastructure and environment which proves to be the most vulnerable to cyber breaches and security issues.
Publication
Canada and EU sign security and defence partnership
Canada and the European Union signed a Security and Defence Partnership (SDP), which formalizes a mutual intent to foster closer ties by establishing a framework for dialogue and cooperation across the full security and defence spectrum.
Subscribe and stay up to date with the latest legal news, information and events . . .