The Internet of Things (IoT): legal issues in the application of smart contracts

Abstract

The analysis of using so-called smart contracts, which have become widespread in recent years. The definition of the term “smart contract” is given, some classification is offered for them. A comparative analysis of traditional and smart contracts in the part of legal regulation of their application was conducted. The article formulates legal problems of the theoretical and practical direction, which are a significant barrier to the use of smart contracts in the context of widespread use of Internet of Things, some solutions have been suggested for them.