Wet code, dry code, damp code
Traditional law, says Nick Szabo, is "wet code" that 'runs' on the brains of human lawyers that interpret text. Smart contracts are "dry code" that runs on computers. We'd propose an additional idea: "damp code". »
Traditional law, says Nick Szabo, is "wet code" that 'runs' on the brains of human lawyers that interpret text. Smart contracts are "dry code" that runs on computers. We'd propose an additional idea: "damp code". »
To make the best of a career in commercial law, lawyers need to get creative about costs. Cheaper ways of building new legal arrangements will lead to new business structures and better incentive engineering. »
Law is an information business. Law firms - the commercial / transactional groups at least - make money by controlling, and selling guided access to valuable information. »