Blockchain law: Gaming the system

People in the fintech world often like to say that “code is law,” but do courts agree? Some argue that whatever outcomes might occur under a fintech system’s programming are what the participants bargained for by agreeing to use that system, and thus must be accepted.

But sometimes users of those systems find ways to exploit opportunities or gaps in programming to obtain “windfalls” or other unanticipated or commercially unreasonable outcomes, perhaps even to the injury of others. What then?

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, "Gaming the system."