Ukrainian Law Blog
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Monday, May 14, 2018
The Problem With Smart Contracts
Coder and IT-professional-turned-lawyer Amir Azaran wants to set the record straight: “Smart contracts are not contracts in the legal sense. They are not drafted by lawyers; they are written by computer programmers—they are software,” he said at the CDX Academy Blockchain Brand Innovation Summit in New York.
Azaran, a partner in
Loeb & Loeb
’s advanced media and technology practice, explained that while smart contracts can automate the execution of contract terms and transactions, the technology isn’t likely to replace transactional attorneys any time soon.
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