Aaron Powers, CEO/Co-founder of Hunit, a law tech company, joined us to discuss smart legal contracts (SLCs) and how can they play a part in a more digital future of finance.
SLCs and smart contracts are not one and the same. SLCs are legally binding. Some or all of the contractual obligations are defined in and / or performed by code. The technology they deploy is use-case agnostic and can be deployed in financial services and beyond. In financial services for example, tokenized money enables programmability and atomic settlements but SLCs enhance those features by eliminating manual processes, reducing errors and enabling faster business operations. Aaron highlights that the UK regulatory and judiciary authorities are leading the way internationally in assessing if existing law can accommodate SLCs.
