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Issue No. 02 - Mar.-Apr. (2017 vol. 21)
ISSN: 1089-7801
pp: 97-101
Kieron O'Hara , University of Southampton
ABSTRACT
Increasingly in e-commerce, smart contracts have relied on the code as the contract. But code can be hacked and fail, leaving multiple parties potentially exposed to legal gray areas, great financial loss, and little recourse. Here, Kieron O'Hara considers the ramifications of such contracts by exploring what happened when the Ethereum platform was hacked in the summer of 2016.
INDEX TERMS
Electronic commerce, Intelligent systems, Contracts, Internet and Web services, Finance
CITATION

K. O'Hara, "Smart Contracts - Dumb Idea," in IEEE Internet Computing, vol. 21, no. 2, pp. 97-101, 2017.
doi:10.1109/MIC.2017.48
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