How to “Keep Laws Short” – Jaskaran Kohli – Medium
Elon Musk’s Eureka Moment for legal administrative procedure doesn’t hold up to any real scrutiny.
Laws can’t currently be shortened for a number of good reasons.
Through analysis of Smart Contracts and Distributed Governance Platforms, we can see how they could.
- Why most laws either can’t or shouldn’t be shortened.
- Explanation of Smart Contracts
- Introduction of Distributed governance Platforms such as Blockchain and DLTs can ensure the fair performance of the overriding objectives set out by laws.
- How the Marriage of DLTs and Smart Contracts can automate governance, by ensuring the execution of admin. functions against contracted terms
Why are laws so long?
Laws are made long for the sake of comprehensiveness. A single motion within legislation will often require citations, references, definitions and definitions of definitions.
The contents of a piece of legislation can ensure the power vested by a legislation is not misconstrued or misapplied.
That being said…
The current legal system leaves a lot to be desired.
Deciphering the law requires years of accumulated knowledge. An extensive and reliable understanding of administrative procedure is needed to navigate through.
This propounds a state of information monopoly, where knowledge is retained by the few and held from those for whom it was intended to serve.
Beurocratic processes add no real value.
Further, the difficulty to navigate serves as a barrier to economic freedom by limiting the output of a venture and consuming unnecessary resources.
How Smart Contracts with Distributed Governance Protocols can replace Bureaucratic functions
Smart Contracts are simply laws written in computer code.
These protocols execute upon certain conditions.
Smart Contracts are communicated through Networks that are executed by authorised Nodes.
These Nodes are effectively the guarantors of the Smart Contract.
If Smart Contracts are analogized as laws, then the executing Nodes can be said to perform the functions of the Police, Judiciary, Legislature and Public Authorities: the entire architecture of state required to make state-instituted legislation work.
The Role of DLTs?
Wallets, in a Blockchain or DLT network, serve as a pseudonymous identity within the network.
Being an address for transactions gives legal standing to the wallet, within the network, being afforded all the rights the network rules bestows upon it.
- Private property rights: the right to hold a Bitcoin balance, without it being tampered by any unauthorised party.
- Freedom to Contract: The ability to transact with any other Bitcoin wallet, free from any 3rd party interference
Just as miners guarantee the Smart Contracts offered by the Bitcoin network, sufficiently distributed DLT Nodes with authority over smart contracts and the way that they are governed, ensures that no single entity can alter the smart contract to meet its own self-interest, making smart contract networks something like a self guaranteeing constitution.
INVENT, INNOVATE, OPTIMIZE, GLOBALIZE
- Build efficient, scalable Distributed Network Solutions.
- Get insight into the latest developments in new technologies and how they can be applied to add value to your business.
- Bespoke advice based on industry-specific market research.
- Smart Contracts, DAPPS and DAOs, and Decentralized network governance
- Smart Contract Business Logic
- Mining, Staking and Node Hosting Solutions
GET IN TOUCH for any enquiries, partnerships, ideas or suggestions!