Prospects of the Development of Smart Contracts in the Russian Federation with the Use of the Digital Ruble Platform

Abstract

This scientific article explores the prospects for the development of smart contracts in the Russian Federation, considering them as a means of fulfilling obligations. Given the lack of legal consolidation of blockchain technology in Russia, the authors present the concept of the “digital ruble” platform, developed by the Central Bank of the Russian Federation, as an alternative to blockchain for the implementation of smart contracts. The structure of the article includes the main elements of the organization of smart contracts and the regulation of civil law relations, such as smart contracts, the digital ruble platform, the smart contract system and contracts directly concluded by the parties. Smart contracts are digital agreements that are automatically executed when certain conditions occur. They have a huge potential to improve the efficiency and reliability of civil law relations. This article discusses the prospects of using smart contracts in the Russian Federation using the digital ruble platform in light of the current lack of a legal framework for blockchain technology.