Why Lawyers Won’t Be Replaced By Smart Contracts
Gary J. Ross, writing for Above the Law, takes a look at the potential impact that the use of smart contracts will have on the legal profession.
He offers reassuring prospects: “The smart contract carries out what it is programmed to do, and that’s it. It doesn’t think independently, nor does it provide any reasoned analysis.”
“A smart contract is best for carrying out the simple “if thens” of the agreement. Basically, the first page of the term sheet,” he writes.
Ross is a partner at Ross & Shulga PLLC.
