As blockchain, DLT, and tokenization continue their transformative assault on industries across the world, an inevitable debate has arisen regarding the legal capabilities and limits of smart contracts. There are some who advocate a world in which there is no reference to inputs outside of those coded onto the blockchain.
We believe, on the other hand, that the rule of law cannot be subordinated to the constraints of computer science. While code make the law more efficient and impartial, it cannot account for all conceivable outcomes.
As such, the best solution will always be a working relationship between powerful, well-written code and a reliance on the complex and well-tested history of law. Code does not replace the law; it makes the applicable law clear, allowing for better functionality and more rapid adjudication when legal issues arise.
What do you think? Is the code a servant to law?