@zoeyqqq

Smart contracts can automate transactions and governance in areas like DeFi and DAOs, reducing intermediaries and enhancing transparency via self-executing code on blockchains. They show promise as building blocks for automated systems in finance, supply chains, and decentralized organizations.However, they cannot fully become the underlying rules of an automated society. Limitations include rigidity (code lacks flexibility for nuances, intent, or external events), dependency on oracles for real-world data, legal enforceability issues, vulnerability to bugs, and inability to handle complex social, ethical, or ambiguous human interactions. Society requires adaptable laws, human judgment, and democratic oversight, which pure code cannot provide.https://corpgov.law.harvard.edu/2018/05/26/an-introduction-to-smart-contracts-and-their-potential-and-inherent-limitations/https://en.wikipedia.org/wiki/Smart_contract

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