“Code Is Law” And Smart Contracts. Embedding Ethics In Decentralized Ledger Systems. Costantini, F. & Ferencz, B. Jusletter IT, 2021. doi abstract bibtex “Smart Contracts” are tools based on distributed ledger technologies deployed in order to increase the effi ciency of transactions. Their adoption is growing at an exponential scale due to the undisputable advantages brought by their property of self-executing tasks, yet on the opposite it raises concerns since it does not require any sort of moral scrutiny. In our paper we fi rst address how the current ethical discussion can be framed in Decentralized Ledger Technologies, then we unfold the evolution in legal theory of a decentralized approach – epitomized by the motto “code is law” – fi nally we focus on “smart contracts” discussing the application of “engineering ethics” or the implementation of “ethical oracles”. At the end we conclude with a few remarks and some perspectives for future research.
@article{costantini_code_2021,
title = {“{Code} {Is} {Law}” {And} {Smart} {Contracts}. {Embedding} {Ethics} {In} {Decentralized} {Ledger} {Systems}},
copyright = {All rights reserved},
doi = {DOI: 10.38023/c4b873df-aee5-4de3-893b-a15be9df5128},
abstract = {“Smart Contracts” are tools based on distributed ledger technologies deployed in order to
increase the effi ciency of transactions. Their adoption is growing at an exponential scale due
to the undisputable advantages brought by their property of self-executing tasks, yet on the
opposite it raises concerns since it does not require any sort of moral scrutiny. In our paper
we fi rst address how the current ethical discussion can be framed in Decentralized Ledger
Technologies, then we unfold the evolution in legal theory of a decentralized approach – epitomized
by the motto “code is law” – fi nally we focus on “smart contracts” discussing the
application of “engineering ethics” or the implementation of “ethical oracles”. At the end we
conclude with a few remarks and some perspectives for future research.},
number = {27 May 2021},
journal = {Jusletter IT},
author = {Costantini, Federico and Ferencz, Balint},
year = {2021},
}
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