Ukrainian Law Blog
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Friday, June 22, 2018
Five Things to Know About Smart Contracts
Computer scientist and legal scholar Nick Szabo first proposed the idea of “smart contracts” in 1996. Szabo published his initial paper on the topic in a publication called
Extropy
, a journal of transhumanism, a movement seeking to enhance human intellect and physiology by means of sophisticated technologies. At the time, the idea was nothing if not futuristic.
Fast forward 22 years, and even if the actual use of smart legal contracts remains largely in the future, the idea of them has gone mainstream. What follows is our list of the top five things you need to know about this quickly evolving area.
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