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Institute for Regenerative Systems Architecture^™IRSA^™Catalysing systems designed for renewal

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NFTs & Value Formalisation

Contract Completeness Problem

Definition

The impossibility of specifying all contingencies in a smart contract, combined with the inability to adapt contracts to unforeseen circumstances. Unlike legal contracts interpreted by courts, smart contracts execute exactly as written.

Example

An NFT contract cannot anticipate marketplace behaviour changes, protocol upgrades, or market structure evolution. When these occur, the contract cannot adapt—it either breaks or becomes irrelevant.

Source

NFTs Section 15

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Related Terms from NFTs & Value Formalisation

Failed Constitution

Formalisation Without Authority

Primary Sale Dependency

Secondary Market Extraction

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