“Code is law,” as described in Lawrence Lessig’s book ‘Code and Other Laws of Cyberspace’, refers to the idea that computer code has progressively established itself as a predominant way to regulate behavior to the same degree as legal code. With the advent of blockchain technology, code is assuming an even stronger role in regulating people’s interactions. However, while computer code can enforce rules more efficiently than legal code, it also comes with a series of limitations. With vast regulatory implications, blockchain applications have already raised many legal questions as they offer new capabilities to engage activities in ways that…
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