A New Reality For Automatically Executing Agreements

With Corresponding Legal Considerations & Risk

An integral part of the emerging technological wave pushing society toward technologies fostering decentralization and disintermediation are smart contracts. While they come in all forms, the basis of the value proposition of smart contracts is their capability to execute based on code automatically; hence the expression “code is law.”

Over the last few years, we have seen exponential growth in the use of smart contracts based on distributed ledger technology (DLT), and we expect to see the use cases continue to rapidly expand as the technology and sector see further maturation. We also see various offerings, such as OpenLaw coming to market, which offers smart contract creation. Currently, NFTs (non-fungible tokens) utilize smart contracts to execute billions of dollars in transactions, whether in the context of art or real estate. For those with an understanding of smart contract technology, there is an astute appreciation for the security, immutability, and automatic execution provided. However, though the opportunity present for the utility of smart contracts is almost infinite, there are risks ranging from legal status and enforceability of smart contracts as well as potential liability stemming from faulty code. At RICHT, as part of LexoCrypto™, our multidisciplinary legal practice focused on the intersection of cryptocurrency and blockchain with the law, we assist clients in navigating smart contracts while minimizing legal risk. In addition, through RICHT&Co, the firm’s technical and digital services arm, we offer clients a unique value add by providing smart contract programming advice.


Smart Contract Law Services We Provide

Smart Contract Drafting & Review

Regulatory Risk Review & Advisory Including Whitepapers

Dispute Resolution

Verification Of Smart Contract Execution & Enforceability

Forensic Investigation Of Allegedly Faulty Smart Contracts

Intellectual Property Protection

Howey Test Analysis

Data Privacy & Security

Illegal Gambling Considerations


Explore Our Related Practices

Blockchain Law
Cryptocurrency Law
DeFi Law
Metaverse Law

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 “A smart contract is a collection of code and data (sometimes referred to as functions and state) that is deployed using cryptographically signed transactions on the blockchain network” – National Institute of Standards and Technology Internal/Interagency Report 8202

Find Out About How We Can Help You Navigate Smart Contracts

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