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13 Wash. J. L. Tech. & Arts 313 (2017-2018)
Smart Contracts, Blockchain, and the Next Frontier of Transactional Law

handle is hein.journals/washjolta13 and id is 321 raw text is: WASHINGTON JOURNAL OF LAW, TECHNOLOGY & ARTS VOLUME 13, ISSUE 3 SPRING 2018 SMART CONTRACTS, BLOCKCHAIN, AND THE NEXT FRONTIER OF TRANSACTIONAL LAW Scott A. McKinney, Rachel Landy, and Rachel Wilka* 0 Scott A. McKinney, Rachel Landy, and Rachel Wilka Cite as: 13 Wash. J.L. Tech. & Arts 313 (2018) hup:/diita~aw~ashngtn d d~p'e~ '/ande!1773.1/1818 ABSTRACT Smart contracts are an emerging technology that could revolutionize commercial transactions by eliminating inefficiencies and uncertainty created by the current transactional ecosystem of lawyers, courts, regulators, banks, and other parties with divergent interests. However, a lack of consensus around how smart contracts are implemented, uncertainty regarding enforceability, and scarcity of on point statutes and case law means that a stable legal, commercial and technical smart contract landscape has yet to emerge. The implementation of universal legal, technical and commercial standards and best practices will reduce uncertainty and promote widespread adoption and use of smart contracts. * Scott McKinney and Rachel Landy are senior associates in the Technology Transactions practice at Wilson Sonsini Goodrich & Rosati, P.C. (WSGR). Scott is an adjunct professor at Georgetown Law and a guest lecturer for Cornell University's Cornell Tech grad program. Rachel represents numerous technology companies on matters relating to intellectual property and commercial contracts. Rachel Wilka is Corporate Counsel at Zillow Group, Inc. and lead counsel for Zillow Rentals, hotpads, Inc., and dotlop, Inc., supporting all product counseling, licensing, commercial partnership, and risk management matters. Rachel was previously a technology transactions associate at Wilson Sonsini Goodrich & Rosati. The views expressed in this article are the authors' own and do not represent the views of WSGR, Zillow, or any of the authors' other clients. Thank you to Manja Sachet and Rob Philbrick.

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