Blockchain Smart Contracts Need a New Kind of Due Diligence
An article by two Hogan Lovells lawyers and published by Lexology outlines some of the due diligence steps to take in the age of blockchain age of smart contracts.
Authors of the article are Theodore J. Mlynar and Ira J. Schaefer.
They discuss the need for a traditional analysis of the proposed transaction and negotiated terms, a source code analysis, and the advice that the proposed smart contract be run on a simulator to see how it operates in response to expected and unexpected messages from users and other contracts..
