Smart Contract and Blockchain Based Contract Management System

Abstract

This paper presents theoretical and practical research on the possibilities of applying smart contracts in the field of law and a contract management system which allows users to conclude contracts based on blockchain technology. The transition from traditional contracting to smart contracting would significantly improve the contracting process as contracts concluded in this way would be without intermediaries. Therefore, they could be concluded more efficiently and the costs related to the contracts could be reduced. Allotment contract was selected as an example, i.e., a contract by which the hotel representative assigns certain accommodation capacities to a travel agency and by which the agency provides those capacities in their arrangements. A smart allotment contract has been written using the Solidity programming language, to run on the Ethereum platform.