This is a general and quick review of who should or can be responsible if something goes wrong on blockchain. I am brainstorming, not educating. Don’t take this essay as legal advice.
I can think of two categories of potential defendants in blockchains: developers and users. But first of all, what is liability?
Black’s, tenth edition, defines liability as “The quality, state, or condition of being legally obligated or accountable; legal responsibility to another or to society, enforceable by civil remedy or criminal punishment.” I am interested only in civil liability here.
The key element of liability is that it . . . [more]