Unlike traditional contracts, the idea was that smart contracts were going to eliminate the need for enforcement or dispute resolution. So that law is enshrined in code.
But this incident has set a precedent, at least within Ethereum, that the project leadership will intervene to enforce the spirit of a smart contract.
So what now are the benefits of Ethereum smart contracts over the traditional legal system?
The way I see it, at least with traditional contracts you have the benefit of a trained and experienced judge making the call in case of a serious problem.
But this incident has set a precedent, at least within Ethereum, that the project leadership will intervene to enforce the spirit of a smart contract.
So what now are the benefits of Ethereum smart contracts over the traditional legal system?
The way I see it, at least with traditional contracts you have the benefit of a trained and experienced judge making the call in case of a serious problem.