CAN robots write contracts? This is a question that legal and business communities in the Philippines should now consider asking.
Three years into law practice, I have read, wrote, reviewed, and revised a significant number of contracts. I have always believed that only humans can draft these agreements, because it requires reason and painstaking attention to detail.Everything changed when I chanced upon journal articles that discussed “smart contracts.” Curious, I looked into these articles and found that some jurisdictions abroad have been using this kind of contract.
The argument is that a smart contract allows parties to have time for “more important” matters in businesses.More questionsTo tweak the question — is a smart contract legally feasible in the Philippine setting? I cannot answer for now, but it’s bound to raise more questions on potential privacy and confidentiality breaches, fraud, discrimination, among other concerns.
Contracts’: When Robots Draft Business Deals
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