Can Blockchain Solve The Hold-Up Problem In Contracts?

Conventional contract technologies to ensure commitment-liquidated damages-are disfavored by courts and themselves subject to renegotiation. Smart contracts written on blockchain ledgers offer a solution. We explain the basic economics and legal relevance of these technologies, and we argue that they can implement liquidated damages without courts.

• | By (Author): Richard (University Of New South Wales, Sydney) Holden
• | Publisher: Cambridge University Press
• | Publication Date: Nov 18, 2021
• | Country of Publication: United Kingdom
• | Number of Pages: 75 pages
• | Language: Unknown
• | Binding: Softback
• | ISBN-10: 1009001396
• | ISBN-13: 9781009001397