3) How far do you see smart contracts impacting (both positively and negatively) the legal sector, given that most contracts are produced at present by lawyers?

I think it will have a transformative impact for contracts where clarity of terms is important; a smart contract is almost always clearer than legalese.

I expect they will be used little in contracts where “strategic ambiguity” allows avoiding the discussion of scenarios that don’t need to be discussed for the deal to move forward.

I am thrilled by the transformative effect that smart contracts will have on agreements that exist in a corrupt/non-existent legal system. Replacing all of the contracts that are written with the expectation that they will never be honoured because the other party has no recourse due to a corrupt legal system, would change our now global society for the better in almost immeasurable ways.

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