claim: New technologies are enabling "nano contracts"—extremely small-scale agreements governing ephemeral, minuscule-value interactions previously outside formal law. While nano contracts can unlock new opportunities and efficiencies, they also carry significant risks, challenge effective regulation, could collapse private law boundaries, and reveal scale's neglected role in private law.

evidence_quote: [p. 1] NANO CONTRACTS 11/14/2023 2:12 AM ON THE SCALES OF PRIVATE LAW: NANO CONTRACTS FORTHCOMING: 37 HARVARD JOURNAL OF LAW & TECHNOLOGY (2024) Yonathan A. Arbel Contracts are falling in scale. New contracting trends and technologies facilitate the formation of smaller scale contracts that have extremely short duration, stakes, and scope. These nano contracts embody ephemeral interactions of minuscule value interactions that were so far outside the law and away from explicit markets, governed only by social norms. The rise of nano contracts can unlock new transaction types, opportunities to build wealth, and reduce dependence on private ownership. Yet they also carry important risks, and...

citation: Yonathan A. Arbel, On the Scales of Private Law: Nano Contracts, Harvard Journal of Law & Technology (2023).

confidence: machine-linked

limitations: Machine-linked claim. Use the evidence quote and PDF before treating it as a quotation or as a complete statement of the paper's position.


claim: New contracting trends and technologies are facilitating "nano contracts," extremely small-scale agreements for ephemeral, low-value interactions previously outside formal law. while these nano contracts offer new opportunities, they also carry significant risks, challenge effective regulation, and could ultimately collapse private law boundaries, revealing scale's neglected role in private law.

paper_title: On the Scales of Private Law: Nano Contracts

evidence_span: [p. 1] NANO CONTRACTS 11/14/2023 2:12 AM ON THE SCALES OF PRIVATE LAW: NANO CONTRACTS FORTHCOMING: 37 HARVARD JOURNAL OF LAW & TECHNOLOGY (2024) Yonathan A. Arbel Contracts are falling in scale. New contracting trends and technologies facilitate the formation of smaller scale contracts that have extremely short duration, stakes, and scope. These nano contracts embody ephemeral interactions of minuscule value interactions that were so far outside the law and away from explicit markets, governed only by social norms. The rise of nano contracts can unlock new transaction types, opportunities to build wealth, and reduce dependence on private ownership. Yet they also carry important risks, and...


claim: Writes to introduce the concept of nano contracts, exploring their fundamental aspects including platforms, protocols, and necessary legal technology. the paper then delves into specific applications like nano lines, nano leases, nano gigs, and nano accidents, examining the legal policy implications for each.


claim: Writes that, drawing an analogy to Richard Feynman's call to explore nanotechnology, current technological trends demonstrate a dramatic miniaturization of contract scale. this changed, smaller scale of contracts has profound implications that his article will explore.

evidence_quote: [p. 3] 2023] 𝑛𝐾 3 I. INTRODUCTION THERES PLENTY OF ROOM AT THE BOTTOM RICHARD FEYNMAN1 In the 1959 annual meeting of the American Physical Society, theoretical physicist Richard Feynman stood up and took the stage, set to deliver a puzzlingly titled after-dinner speech. 2 With his signature mischievous grin, Feynman sought to persuade a room of physicists that they should turn their gaze from the heavens above to the molecular level below. It is at the bottom the smallest scale of atomic interactions that we can find grand opportunities for innovation. In his inimitable style, he surgeon, 3 to be able to replace the heavy hand of the surgeon with a pill containing a nano robot that...


claim: Scale transformations in contracts carry profound legal and social implications, holding both promise and peril if the legal response is inattentive. recent technological trends like digitization, XaaS models, and AI agents are creating the infrastructure for "nano contracts," characterized by near-zero latency and extremely low transaction costs.

evidence_quote: [p. 4] 4 Draft[Vol. __ deep legal implications. What I will strive to show throughout is that scale transformations do more than change the commercial aspect of transactions, they also carry the seed of social transformation. Drawing on examples of past scale transformations in contracts, it will become clear that a fall in contract scale can lead to broad social, political, and material changes. But while the march of technology is likely inevitable, the social response is not. Some of the changes carry great promise, promoting greater autonomy, choice, and prosperity. Yet, if the legal response is inattentive, these changes can also imperil social values, marginalized communities, and...


claim: Nano contracts are digitally negotiated, automated, near-instantaneous agreements for very small-scale peer-to-peer transactions involving tiny values or fragmented rights, reducing intermediaries. these nano contracts challenge classical contract law by blurring distinctions between contractual relationships and spot exchanges, as traditional assumptions about parties, negotiation, and value may not hold.

evidence_quote: [p. 5] 2023] 𝑛𝐾 5 Nano contracts are digitally negotiated agreements that employ automated and near-instantaneous bargaining processes in multiparty peerto-peer ( p2p ) transactions. What makes them nano is their scale. They cover transactions that last a few seconds; transfer cents, milles, and even smaller fractions of the dollar;13 or transfer slivers and fragments of the bundle of rights of ownership. Their p2p character reduces the need for intermediation, and thus allows parties to transact with each other without necessarily involving firms or platforms in the middle. Two preliminary questions immediately present themselves. Is there anything truly new about these agreements if they...