The Trouble with Code as Law

Smart contracts are self-executing agreements written in code on the Ethereum blockchain, designed to remove third-party risk and automate trust. They enable the creation of tokens—payment, utility, security, governance, and NFTs—while raising questions about legality, enforceability, and technical limitations like the halting problem. Regulatory frameworks in the US and EU are evolving, but challenges remain in ensuring users understand and consent to code-based agreements.