All contracts are necessarily incomplete. The inefficiencies of bargaining over every contingency, coupled with humans' innate bounded rationality, mean that contracts cannot anticipate and address every potential eventuality. One role of law is to fill gaps in incomplete contracts with default...

Blockchain serves as shared ledger for many cryptocurrencies such as ethereum and bitcoin. Blockchains are now paving way for healthcare, real estate and other applications. In this paper, we described the state-of-the art of blockchain technology by untangling the complexity of blockchain...

We show that there cannot be common knowledge trade in a truly decentralised environment, such as in a blockchain. A trade is an agreement to buy and sell a security that pays according to some state of nature; it is settled when the security's value is verified by an oracle, an intermediary who...