"Most of our legal systems are not built around the idea of a corporation itself being entirely run by machines on the internet,"
"My own belief is that over the next five years-and certainly over the next five to 10 years-almost every legal system in the world will need to be a machine-governed economic system."
"'regulation by enforcement.'"
Companies are adopting AI and blockchain technologies that will make corporations more reliant on machines and less reliant on humans. Most current legal systems are not designed for corporations run entirely by machines on the internet. Anticipated shifts will require legal frameworks that recognize machine-governed economic entities within five to ten years. Nations are racing to catch up through AI and crypto legislation at state and federal levels. U.S. states have introduced AI laws, California passed AI developer requirements, and Congress has moved to clarify stablecoin and broader crypto market regulations. Regulatory clarity remains a key concern.
Read at Fortune
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