IMMUTABILITY (CON’T) • By default, smart contracts arguably have an implied anti-modification provision, which may place the validity of certain smart legal contracts at risk. • Courts and law undergird all computable contracts, including smart contracts used to model legal agreements. Just because promises are memorialized in “code”; the law does not evaporate. • Courts have the authority to determine whether a party breached an agreement and remediate harm after the fact UNRESTRICTED 150
2nd R3 Smart Contract Templates Summit (All Slides) Page 150 Page 152