Smart Contracts and the Illusion of Automated Enforcement

19 Pages Posted: 25 Oct 2019 Last revised: 10 Nov 2019

See all articles by Danielle D'Onfro

Danielle D'Onfro

Washington University in St. Louis - School of Law

Date Written: November 7, 2019

Abstract

This symposium essay explores the barriers to deploying smart contracts in the consumer finance space: the humans themselves, existing consumer protection laws, and the other businesses who have financial contracts with consumers but that cannot deploy smart contracts. These three barriers render perfectly automated enforcement all but impossible. Nevertheless, there may be room for modifiable smart contracts in the consumer financial space although these contracts may be only marginally more efficient than traditional contracts.

Keywords: smart contracts, contracts, consumer protection, creditors rights

JEL Classification: K

Suggested Citation

D'Onfro, Danielle Frances, Smart Contracts and the Illusion of Automated Enforcement (November 7, 2019). Washington University Journal of Law and Policy, Forthcoming, Available at SSRN: https://ssrn.com/abstract=3470975

Danielle Frances D'Onfro (Contact Author)

Washington University in St. Louis - School of Law ( email )

1 Brookings Drive
Campus Box 1120
St. Louis, MO 63130
United States
3149356404 (Phone)

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