Issue No. 02 - Mar.-Apr. (2017 vol. 21)
DOI Bookmark: http://doi.ieeecomputersociety.org/10.1109/MIC.2017.48
Kieron O'Hara , University of Southampton
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.
Electronic commerce, Intelligent systems, Contracts, Internet and Web services, Finance
K. O'Hara, "Smart Contracts - Dumb Idea," in IEEE Internet Computing, vol. 21, no. 2, pp. 97-101, 2017.