• A
  • A
  • A
  • ABC
  • ABC
  • ABC
  • А
  • А
  • А
  • А
  • А
Regular version of the site

Article

"Умные " контракты как начало конца классического договорного права

The paper analyzes legal issues associated with Smart contracts, i.e. agreements existing in the form of software code implemented on the Blockchain platform, which ensures autonomy and self-executive nature of Smart contract terms based on predetermined set of factors. Based on cryptocurrency Bitcoin example, the paper outlines peculiarities of Blockchain technology, which is the core of Smart contracts. Then the tensions between classic contract law and Smart contracts are outlined (inapplicability of concepts of “obligation”, “responsibility”, “non-performance or improper performance”, etc.) and certain possible consequences of wide-scale use of Smart contracts in legal practice