Key Legal Issues Surrounding Smart Contract Applications
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01/06/2019Author
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The aim of this work is to delve into some key legal issues surrounding Smart Contract applications. In the first and second parts, this paper defines the concept of Smart Contract and how it applies within the blockchain ecosystem. In the third part, this work exposes the functioning of this digital technology and the main advantage that it implies for solving the crucial issues of execution and breach of contracts. In the fourth section, this paper analyzes a set of problematic aspects that arise around Smart Contracts such as the scope and delimitation of them or the validity and certification of blockchain transactions. It also analyzes different issues related to the design of a legislative policy that addresses the design of a supranational and harmonized legal framework. The aim of this work is to delve into some key legal issues surrounding Smart Contract applications. In the first and second parts, this paper defines the concept of Smart Contract and how it applies within the blockchain ecosystem. In the third part, this work exposes the functioning of this digital technology and the main advantage that it implies for solving the crucial issues of execution and breach of contracts. In the fourth section, this paper analyzes a set of problematic aspects that arise around Smart Contracts such as the scope and delimitation of them or the validity and certification of blockchain transactions. It also analyzes different issues related to the design of a legislative policy that addresses the design of a supranational and harmonized legal framework.
Key Legal Issues Surrounding Smart Contract Applications
Tipo de Actividad
Artículos en revistasISSN
2234-7526Palabras Clave
Smart Contract, Blockchain, Distributed-Ledger Technology, Transactions, Self-executing agreements, Enforcement, Legislative PolicySmart Contract, Blockchain, Distributed-Ledger Technology, Transactions, Self-executing agreements, Enforcement, Legislative Policy