NYU legislation professors argue ‘private progress bets’ utilizing sensible contracts ought to be authorized

New York College College of Legislation professors Max Raskin and Jack Millman just lately printed a paper within the Journal on Rising Applied sciences discussing the legalities surrounding using blockchain-based sensible contracts for the aim of “private progress bets.”

Based on the duo, private progress bets are single-party contracts that individuals would interact in with themselves. The aim of those contracts would typically be for the aim of self-improvement — to both begin or cease a sure act throughout a given time frame or by a sure date.

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