Differences between smart legal contract and smart contract

A widely accepted definition of Smart Contract is some version of computer code that, upon the occurrence of a specified condition or conditions, runs on a distributed ledger (or blockchain). Alternatively, a Smart Legal Contract (SLC) can be described as a legally binding, digital agreement in which part or all of the agreement is intended to execute as algorithmic instructions. A more fundamental difference between a smart contract and a legal contract is the authority that dictates enforcement of the contract.

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