UNDERSTANDING ELECTRONIC FORMS OF TRANSACTIONS AND SMART CONTRACTS BY UNIVERSITY STUDENTS

Abstract

The Law Institute of Peoples' Friendship University of Russia (RUDN) pays much attention to innovations in the legal field, including the correct understanding by students of categories such as "digital rights" and "smart contracts," which have recently been legislatively enshrined in the norms of Civil Law of the Russian Federation. Digital rights are obligations and other rights, the content and conditions of implementation of which are determined following the information system's rules that meet the characteristics established by Law. The Russian Federal Law of March 18, 2019, N 34-FZ "On Amendments to Parts One, Two and Article 1124 of Part Three of the Civil Code of the Russian Federation" establishes a new method of concluding a written transaction -using electronic or other technical means that allow the content of the transaction unchanged on the physical data carrier. The expression of his will used by a person using electronic or other technical means (for example, when filling out a form on the Internet) is equivalent to a simple written form of a transaction. According to the legislator, this should become the basis for the conclusion of the so-called "smart contracts" in the Russian Federation. The article's conclusions could be of importance while learning and teaching in the Russian universities following the novelties in the legislation and the necessity of the learners to catch up with the modern educational requirements.