>Private blockchains, such as for cross company account clearances, complex asset exchanges (planes, land) may help dislodge the rent seeking lawyers.
I've heard this one before and I am little hesitant about it.
I imagine if you want to sell planes or land, you may want the seller to make certain assurances. So a lot of what M&A lawyers do, I understand, is work out what assurances need to be obtained and how to best enforce them in the contract.
How does a private blockchain ensure enforcement of such a term? Seems like a human arbitrator may always be needed (judge or arbitrator), and an intermediary to give effect to any decision. So what advantage is there to gain from blockchain as opposed to other financial platforms?
I've heard this one before and I am little hesitant about it.
I imagine if you want to sell planes or land, you may want the seller to make certain assurances. So a lot of what M&A lawyers do, I understand, is work out what assurances need to be obtained and how to best enforce them in the contract.
How does a private blockchain ensure enforcement of such a term? Seems like a human arbitrator may always be needed (judge or arbitrator), and an intermediary to give effect to any decision. So what advantage is there to gain from blockchain as opposed to other financial platforms?