“nj bet365 is Law”，This phrase was coined in the 1990s，Proposed by Joel Reidenberg, professor at Fordham University Law School，Originally an academic topic limited to the field of cyber law and regulatory theory。In recent years，With the rise of cryptocurrencies、The popularity of blockchain technology，This phrase began to break through academic circles，Becoming a buzzword in the crypto world、Representative slogan，Being known to more and more people，But it also confuses many people。At this time，Explore its meaning、Evolution and resulting controversies，Seems very necessary。

　　“nj bet365 is law” in cyberspace

　1999，Harvard Law School professor Lawrence Lessig used Redenberg’s “nj bet365 as law” as the first chapter of the book “nj bet365 and Other Laws of Cyberspace” title，This phrase has since become a talking point in the field of cyber law。

At that time，The Internet has just entered the lives of ordinary people，Commercial Internet is in the ascendant。Many people thought at that time，Cyberspace is a different world than the real world、Ideal free society，Traditional laws and government regulations cannot effectively manage the world。However，Lessig is acutely aware，Freedom is not the essence of cyberspace。Hardware、Software and nj bet365 rules, the infrastructure of the Internet, are the foundation of the entire cyberspace，What form do we set up the structure in?，Which encoding mode to adopt，What kind of regulatory effects will be achieved in cyberspace - these can be completely free，Can be fully regulated，It can also be in an intermediate state。Relevant enterprises and government departments have huge power，Be able to pass the choice of architecture and nj bet365，Realize control of cyberspace。

At Lessig’s place，“nj bet365 is law” means that nj bet365 is the “law” of cyberspace。In the real world，We will be constrained by several aspects: market、Law、Social norms, etc.。With the emergence of cyberspace，The fourth regulation method-nj bet365 appears。We can nj bet365 or software、Architecture、In agreement，By technically setting certain features，It is possible to achieve certain actions、The effects of other restricted behaviors。This way，nj bet365 will become a regulatory tool like law in the real world，Even more efficient、Lower cost。For example，Internet intellectual property protection issues，By taking a direct technical approach，That is, using nj bet365 to build a trusted system internally，Achieve finer control over access to and use of works，Can have a better regulatory effect than conventional laws and social norms。

Later，The development of the Internet confirms Lessig’s judgment。Driven by multiple factors，The Internet has moved from the initial chaos and freedom to a highly regulated state，The previous voice of “cyber utopia” has gradually dissipated，Until Cryptocurrency、The emergence of nj bet365 technology。

　“nj bet365 is law” in the crypto world

　2009，Bitcoin was born，Subsequently a series of cryptocurrencies were born。Cryptocurrency is a currency based on distributed ledger technology (usually blockchain)、Digital currency for Internet online transactions，Essentially also a kind of nj bet365。Although the future of cryptocurrency itself as the native "currency" of the Internet is uncertain，But more and more people are noticing the revolutionary significance of its underlying blockchain technology。Blockchain provides a distributed、Untamperable recording method，Users can store information with confidence、Make a transaction、Transfer value。Blockchain technically solves the problem of mutual trust between strangers without the need for third-party guarantee，Hence it is called the "Trust Machine"。New technology attracts all kinds of people，They gather on the Internet to form an encrypted world。In the crypto world，Smart Contract、Decentralized autonomous organizations and other new things、Concept、Attempts keep coming。

Smart Contract is essentially a computer program that can be executed automatically。1994，Cryptozoologist Nick Szabo proposed the concept of smart contracts，But it was not widely used at that time。This is because there was a lack of trusted execution environment at that time - contracts mostly solved the needs between strangers，If there is no third-party guarantee，Performance is usually not guaranteed。Blockchain solves the trust problem，This makes the large-scale application of smart contracts possible。The smart contract will use nj bet365 to clearly write the contract information，And stored and run on the blockchain。Once the agreed conditions are triggered，The execution of the contract (such as fund transfer) will be completed automatically，Even the developer of this program cannot tamper with it，It is not restricted by any specific hardware device。This allows any user to freely establish contracts between each other，Anyone who knows a specific programming language can write such a smart contract，And create their freely defined rules within it。

The combination of smart contracts and blockchain is considered to have broad application prospects。Except payment、Except financial operations such as securities issuance，Any pair of credit、Occasions with higher requirements on security and durability，Such as employment contract、Judicial Certification、Internet of Things, etc.，Smart contracts can meet their needs。Go further，Smart contracts running on the blockchain will transcend mere tools and develop into laws、A trust carrier like an intermediary。For example，Organizations like companies can exist in the form of nj bet365。We can convert all systems、Management、Performance rewards and other rewards are written into the nj bet365 and stored in the blockchain，All governance allocates resources globally through smart contracts、Form collaboration，Autocomplete。This kind of decentralized autonomous organization (Distributed Autonomous Organization) that lives on the blockchain，DAO) is not a commercial entity in the traditional sense，It is actually an agreement，But runs like a separate entity。

Some supporters of the crypto world believe this，Smart contracts not only operate similarly to legal enforcement，It has advantages that the traditional legal system does not have: replacing vague and ambiguous legal language with clear computer language，Realize various laws in human society、Contract，Payment via crypto assets is automatically executed according to established steps。Such a contract defines the contract content，Also ensures contract execution，Eliminates the uncertainty of both parties’ legal performance of the contract，Equivalent to a contract that will not be broken。If all parties can reach an agreement on the content of the contract，And the protocol is perfectly executed by the distributed network，Smart contracts may become a substitute for traditional law。What’s more important，The combination of blockchain and smart contracts can also be used to perform organizational governance functions，nj bet365 replaces the operation and management of traditional organizations based on natural language written protocols，Transform existing companies and other legal entities，Create new forms of organization and collaboration simultaneously。

This heralds the emergence of a new type of legal system。It will become easier than ever for individuals to construct their own rule system，Through blockchain and smart contracts，People can choose and implement autonomous rules at will。Legal researchers Primavera De Filippi and Aaron Wright called it "Blockchain and The Law: The Rule of nj bet365" for "Lex Cryptographica"。

The emergence of blockchain will greatly change the traditional social governance method - relying more and more on nj bet365 to organize economic and social activities。We may increasingly submit to a rule of nj bet365 that is not controlled by any third party。With the new thing cryptocurrency coming to the forefront，“nj bet365 is law” has also become a representative cultural slogan in the encryption world。

Of course，nj bet365-based governance faces many problems。For example，Legal rules cannot be fully described by highly formal coding languages，nj bet365 rules are more than rigid，Insufficient flexibility，Unable to adapt to changing environment；Although the rules are expressed in nj bet365，But its design、Implementation and use are still done by humans，What is ultimately expressed is people’s intentions。So，The statement that “nj bet365 and law complement each other”，Maybe it will be supported by more people。

(Author’s unit: Institute of Philosophy, Shandong Academy of nj bet365 Sciences)