- Blockchain-based digital court can handle legal functions entirely on the blockchain
Professor Hitoshi Matsushima at the University of Tokyo and Professor Shunya Noda at the University of British Colombia have collaborated to create a blockchain-based digital court, which can handle legal functions entirely on the blockchain.
Essentially, this is an expansion on the concept of blockchain smart contracts and uses an oracle. For example, if two parties are in a dispute, they post their arguments to the blockchain in addition to a deposit, and then the court algorithmically aggregates the parties’ opinions and judges which party is in violation. The blockchain smart contract then sends the losing party’s deposit to the winning one.
Although this is an intriguing and possibly useful new technology, many questions remain, such as how a blockchain oracle can be right 100% of the time, and if it can really be trusted to make the right decisions. It would likely require some advanced artificial intelligence that has not been developed yet before blockchain-based court systems become widely used.
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