Älykoodi lakina - vai ei sittenkään?
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sopimusoikeus, lohkoketju, älysopimus, yksityisautonomiaAbstrakti
Code is Law – or is it?
In the modern day, computer code often regulates our behaviour and defines what we can and cannot do. The article examines whether “Code is Law”, the phrase made famous by Lawrence Lessig, could be literally true when considering the lines of smart code stored on a blockchain. Of course, the answer depends on the definition of “law”. It is unlikely that legislation would be enacted in the form of computer code instead of natural language, at least in the near future. So, if one refers to legislation when using the term “law”, code is not law. However, based on private autonomy adopted in many legal systems, smart code may become ”law” among the parties involved if they so intend. On the other hand, the existence of legal safeguards must be taken into consideration. For example, the legal rules on contract interpretation, or invalidity of contract, may apply and lead to the result that the parties involved in a blockchain application have rights and obligations not acknowledged in smart code.
