From Smart Contracts to Courts with not so Smart Judges

The article presents a conceptual reframing of Ethereum's smart contract system, arguing that complex implementations function more like a court system with smart lawyers and judges with restricted capabilities rather than simple self-enforcing contracts. This perspective highlights limitations in how smart contracts handle complex decision-making scenarios.

• →Ethereum smart contracts are better understood as a court system rather than simple self-enforcing agreements.
• →Complex smart contract systems involve smart lawyers but judges with restricted decision-making capabilities.
• →The traditional view of smart contracts as purely self-enforcing may be oversimplified for complex implementations.
• →This reframing suggests inherent limitations in smart contract arbitration and dispute resolution.
• →The analogy highlights potential gaps between smart contract theory and practical implementation challenges.