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Can smart contracts be legally binding contracts?

Published: 09 May 2018 Average Rating: unrated Print
 

Author: R3, Norton Rose Fulbright

There is much excitement globally about smart contracts and distributed ledger technologies that support them.What do we mean by a smart contract? Is it smart? Is it a contract? Do lawyers and technologists understand each other when they use these terms? Recognizing the imperative for clarity on these issues, R3 and Norton Rose Fulbright offer this White Paper, "Can smart contracts be legally binding contracts?" as a step forward in forging a consensus of understanding between industry stakeholders, lawyers and technologists in relation to smart contracts.

 

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