DAOs, Hacks and the Law

“The DAO” is in the midst of an epic hack due to an exploit on the originating smart contracts. Unfortunately it may seem that their own choice of legal infrastructures may force them to honor the exploit instead of the intent.

Smart contracts meet the law

While the specifics vary from land to land, the law has a broad set of parameters that are uniform. They govern the agreements made between humans and the rules which bind them.

Curiously, the DAO, in order to show it’s adherence to a certain form of “smart” contract stated that it would be fully and exclusively bound by these blockchain smart contracts.

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