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Author Topic: What makes a blockchain transaction legally enforceable?  (Read 933 times)
m140v
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March 13, 2017, 06:54:28 PM
 #1

So, I post something.. maybe a contract (smart or otherwise... on Counterparty or via OpenAssets)... how do I know this contract or "token" is real or representative in the court of law??
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March 18, 2017, 08:17:03 PM
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I'm not sure what you mean.  Nothing on the blockchain is "legally enforcable", because Bitcoin is not a legal currency in any country and the addresses are pseudonymns which can't be linked to individuals.

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NewLiberty
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March 29, 2017, 08:33:13 PM
 #3

So, I post something.. maybe a contract (smart or otherwise... on Counterparty or via OpenAssets)... how do I know this contract or "token" is real or representative in the court of law??

Law is a matter of geography.
If you need a law, it depends more on which ground your feet are touching than anything else.
Most any cryptocurrency transaction can be separately codified in a document to be filed with your local authorities.

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March 30, 2017, 09:37:49 PM
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This is something the legality of bitcoin will have to take care of after we have a law that recognises it as a legal tender and therefore that will come with several disadvantages as the community might not like. And until then, there is no enforceability whatsoever that can happen at the moment for us. Just try as much as possible to stay safe...
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