Turkey: Who Bears Final Responsibility and Liability

For such specific types of transactions, we would need lawmakers to revise the current legislation, as well as adopt the technical and operational infrastructure to reconcile with the existing system and database. Some Turkish technology utopians and early adopters may see smart contracts as a medium to eliminate the existing, conventional infrastructure of the legal system. However, until lawmakers take the necessary actions, one should not disregard the power of traditional laws. The law will always prevail over technology as the ultimate authority of the “legality” and “enforceability” of a code-based, self-execution smart contract will be the courts.

Have a comment, edit, or item to add? Share your thoughts by commenting below!

comments powered by Disqus

NEO