Back To the Future: Smart Contracts in the Romanian Legal System

Abstract

This article explores the integration of Smart Contracts into the Romanian legal system, analyzing their compatibility with existing civil law principles and the broader European regulatory framework. The paper evaluates the legal validity of Smart Contracts under Romanian contract law, addressing challenges related to consent, form requirements, and party identification, especially in anonymous blockchain environments. It also examines the implications of European initiatives like the Data Act and AI Act and underscores the need for targeted legislation to ensure legal certainty, consumer protection, and state oversight in blockchain applications. Ultimately, the article advocates for a forward-looking legal framework that harmonizes technological innovation with foundational legal principles.