- As mentioned above, the smart contract means undoubted victory of the computer algorithm over the right and inability to change unilaterally or to breach the contract terms 💎
- According to A. Savelyev, whom we have repeatedly referred to, the smart contract operation fits perfectly to the Russian laws concerning computers and databases. 💎
- The US Supreme Court in the SEC v. Howey case once developed a test to establish a connection between a financial transaction and an investment contract as a type of securities. For ICO purposes, the test can determine the legal nature of a token. In particular, the token is recognized to be a security if it corresponds to four key test parameters including Investment Activities; Investing in a Common Venture; Investor Hopes to Make a Profit; and the Profit Depends on Actions of Other Persons.💎
