Can a Smart Contract Be Legally Binding in Traditional Finance?
The legal status of smart contracts is still evolving and varies by jurisdiction. While the code itself is the ultimate executor on-chain, many jurisdictions are recognizing them as valid contracts if they meet traditional contract requirements like offer, acceptance, and consideration.
For integration into traditional finance (TradFi), "hybrid" legal/smart contracts are being developed to bridge the gap, ensuring both on-chain execution and off-chain legal enforceability.