Blockchain Papers

Eduardo Luis Espinal De Aza

No abstract is available for this record.

Тетяна Павлова, Роман Павлов

The paper explores the transformation of legal concepts in the era of smart contracts, with a focus on rethinking responsibility and justice within a hybrid legal ontology. The purpose of the article is to develop the conceptual foundations of a hybrid legal ontology to analyze the transformation of responsibility and justice in the context of smart contracts, aiming to comprehend qualitatively new forms of legal reality that emerge at the intersection of human and algorithmic principles. The study adopts an interdisciplinary approach, integrating philosophical-legal analysis with elements of systems theory, critical algorithm theory, and post-phenomenological research on technology. The methodological framework is based on concepts of legal pluralism, agency theory, and approaches from analytical philosophy of law to the challenges of responsibility. It is argued that smart contracts establish a hybrid legal ontology in which traditional categories of individual responsibility are replaced by distributed forms of agency. The study identifies a fundamental contradiction between the algorithmic logic of procedural justice and human needs for substantive justice. It is established that restorative justice is incompatible with the deterministic execution of smart contracts. The conceptualization of legal pluralism in blockchain ecosystems is further advanced through the coexistence of diverse normative orders. The research findings contribute to the philosophical-legal theory of the digital age by conceptualizing hybrid ontology as a new form of legal existence, thereby enriching the understanding of agency, responsibility, and justice in the context of human- machine interaction. The results provide a theoretical basis for developing new regulatory mechanisms that account for the distributed nature of responsibility in blockchain systems, establishing ethical principles for designing fair algorithmic systems, and creating hybrid justice institutions. A conceptual vision of hybrid legal ontology is proposed as a theoretical framework for analyzing qualitatively new legal phenomena. The concept of distributed agency is substantiated to describe collective responsibility in decentralized systems. An approach to understanding algorithmic justice through the limitations of formal systems is suggested. The study highlights the need for developing specific mechanisms to operationalize hybrid legal ontology in regulatory practice, creating new institutional forms to implement distributed responsibility, and exploring possibilities for integrating restorative justice into algorithmic systems.

Junlin Yi, Zheheng Miao

Smart contract technology has revolutionized sectors like finance and supply chain management through its automated execution and decentralized nature in China.However, its rapid adoption necessitates robust regulatory frameworks to curb risks such as illegal activities and security vulnerabilities.A comparative analysis of international regulatory approaches reveals divergent policy priorities: the EU emphasizes personal data protection, the US fosters innovation in digital assets, Japan prioritizes transactional safety, South Korea safeguards investor rights, and the UK leverages regulatory sandboxes to balance innovation with control.This paper proposes a hybrid framework of community self-governance and indirect regulation to better mitigate risks while fostering the sustainable development of smart contract applications in China.A hierarchical evaluation system is also introduced, encompassing ex-ante review, interim monitoring, and ex-post audit, supported by quantifiable metrics to enhance regulatory efficacy.

Тулаев, Д. А., Голованова, К. А., Tulaev, D., Golovanova, K.

В статье рассматриваются смарт-контракты как инновационный инструмент в финансовой сфере, акцентируя внимание на их необходимости и преимуществах в условиях цифровизации экономики. Автор анализирует функции смарт-контрактов, такие как автоматизация процессов, повышение прозрачности и безопасность транзакций, а также их влияние на сокращение затрат и временных издержек. Исследование базируется на современных примерах использования смарт-контрактов в финансовых услугах и обсуждает потенциальные вызовы и риски, связанные с их распространением. В заключение подчеркивается важность интеграции смарт-контрактов в финансовые экосистемы для повышения эффективности и конкурентоспособности в условиях цифровой трансформации.

Birger Heldt

No abstract is available for this record.

Prathamesh Wagh

The immutable nature of blockchain makes it challenging to amend or clarify smart contracts once they are deployed. In light of these challenges, new approaches to dispute resolution will be necessary to effectively manage smart contract conflicts. Alternative dispute resolution methods, such as mediation, may offer more flexible and tailored solutions compared to traditional court proceedings.

Juan Carlos López-Pimentel, Carolina Del-Valle-Soto, Leonardo J. Valdivia, Raúl Monroy

Immutability is one of the main characteristics of Blockchain. However, most software development is not static. This dilemma, among others, has caused a new branch of blockchain-oriented software engineering. This paper emphasizes the importance of the early phases of software development before deploying blockchain-based software. It follows case-based research to illustrate the implications of smart contracts designed in the early phases without including all requirements. The paper presents a digital identity case designed within a microservice architecture. We show two stages: an initial design and an upgrading requirement, which causes considerable changes in the architecture. The case is analyzed from three different perspectives: 1) Economic, finding that re-deploying smart contracts does not implicate considerable cost; 2) Computational perspective, finding that it generates various implications: smart contract purpose duplication, storage wastage, failure to recognize the original smart contract, cascade dependency repercussion, and migration problems; and 3) Interconnected effect, a simple change, required for upgrading smart contracts, generates broad collateral repercussions in both on-chain (within the blockchain) and off-chain.

Mukkesh Venkatesan

No abstract is available for this record.

I. H. Kovalenko-Chukina, L. V. Mashkovska

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Alexandra Vitalievna Roshchupkina

The rapid development of the cryptocurrency market forces states around the world to look for effective mechanisms for legal regulation of this new financial reality. In addition, Russian citizens are active users of online platforms that trade cryptocurrencies. Thus, the urgent task of the Russian Federation at the present stage of its development is to find the optimal cryptocurrencies legal regulation. Purpose: to analyse trends and prospects of cryptocurrencies legal regulation, including various approaches to legal regulation, counting abroad. Methods: comparative analysis of the legal regulation of cryptocurrencies in various jurisdictions, as well as a study of technological solutions used abroad. Results: the study made it possible to analyse legislative initiatives regarding cryptocurrencies, from a liberal approach to a complete ban. It also reflected the need to maintain a difficult balance between the desire to protect investors, fight crime, and encourage innovation in the digital economy.

Kazi Gulam Kadar

No abstract is available for this record.

Bahadir Köksal

No abstract is available for this record.

Public Prosecution Office at the Egyptian Court of Cassation, Mohammed Abdelnabi, Yassin Abdalla Abdelkarim, Sohag Primary Court

The prevalence of digital technologies in contemporary human interactions has elevated the role of digital means in contractual relations among society members, prompting renewed attention to smart contracts as automated, code-based legal instruments. This study examines the nature, structure, and operational mechanisms of smart contracts, comparing them to traditional contract theory under the Egyptian Civil Code (Law No. 131/1948). Smart contracts create binding obligations through software-based processes that rely on encryption, offering efficiency but also posing technical and doctrinal challenges. The paper investigates whether the Egyptian legal framework can adequately address issues such as consent, validity, termination, and dispute resolution in digital contracts. By analyzing smart-contract characteristics through the lens of Egyptian civil-law principles, the study seeks to clarify how existing doctrines may be adapted to accommodate emerging technologies. It ultimately proposes a jurisprudential foundation for integrating smart contracts into Egyptian law, ensuring legal certainty and coherence with established contractual norms. __________ CONTRATOS INTELIGENTES BAJO EL DERECHO CIVIL EGIPCIO: ESTRUCTURA Y TERMINACIÓN La prevalencia de las tecnologías digitales en las interacciones humanas contemporáneas ha elevado el papel de los medios digitales en las relaciones contractuales entre los miembros de la sociedad, impulsando una renovada atención a los contratos inteligentes como instrumentos legales automatizados basados ​​en código. Este estudio examina la naturaleza, la estructura y los mecanismos operativos de los contratos inteligentes, comparándolos con la teoría contractual tradicional del Código Civil egipcio (Ley n.º 131/1948). Los contratos inteligentes crean obligaciones vinculantes mediante procesos basados ​​en software que se basan en el cifrado, lo que ofrece eficiencia, pero también plantea desafíos técnicos y doctrinales. El documento investiga si el marco legal egipcio puede abordar adecuadamente cuestiones como el consentimiento, la validez, la rescisión y la resolución de disputas en los contratos digitales. Al analizar las características de los contratos inteligentes a través de los principios del derecho civil egipcio, el estudio busca aclarar cómo las doctrinas existentes pueden adaptarse para dar cabida a las tecnologías emergentes. En última instancia, propone una base jurisprudencial para la integración de los contratos inteligentes en el derecho egipcio, garantizando la seguridad jurídica y la coherencia con las normas contractuales establecidas. __________ 埃及民法下的智能合约：结构与终止 数字技术在当代人际互动中的普及提升了数字手段在社会成员间契约关系中的作用，促使人们重新关注智能合约这种自动化、基于代码的法律工具。本研究考察了智能合约的性质、结构和运行机制，并将其与埃及民法典（1948年第131号法律）下的传统合同理论进行比较。智能合约通过基于软件的加密流程产生具有约束力的义务，这在提高效率的同时，也带来了技术和法理上的挑战。本文探讨了埃及法律框架是否能够充分解决数字合约中的同意、有效性、终止和争议解决等问题。通过运用埃及民法原则分析智能合约的特征，本研究旨在阐明如何调整现有法律原则以适应新兴技术。最终，本研究提出了将智能合约纳入埃及法律的法理基础，以确保法律确定性并与既定的合同规范保持一致。

Mykola Pohoretskyi

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Oleg Klym, Tetiana Melnyk

The complexity of business operations in the global economy is rising, necessitating new approaches to contractual relationship management. This article explores the potential of smart contracts as a transformative tool for international business. By utilizing blockchain technology, smart contracts can automate agreements, reduce transaction costs, and enhance security and efficiency. Initially developed on the Ethereum network, smart contracts have since evolved with the introduction of new blockchain platforms. This paper examines the theoretical background of smart contracts, their practical applications in international business activities, and their impact on economic efficiency. Despite high costs of development, insufficient legal frameworks, and trust-related concerns, the findings suggest that smart contracts hold great potential to optimize international economic activities by increasing transparency, reducing risks, and facilitating decentralized governance.

A.V. Krulko, I.I. Holubenko

No abstract is available for this record.

Raj Chandra Bose

Digital transformation is revolutionizing business agreement management by replacing traditional contract processes with blockchain-enabled smart contracts. Conventional contracts involve extensive paperwork, manual verification, lengthy negotiations, and multiple intermediaries, leading to increased costs and operational delays. Smart contracts automate contract execution based on predefined conditions, providing enhanced security, transparency, trust, and efficiency through decentralized blockchain technology. Smart contracts are widely adopted across industries such as banking, finance, healthcare, logistics, supply chain management, real estate, and international trade to automate payments, regulatory compliance, ownership transfers, and business transactions. The integration of Artificial Intelligence (AI), Internet of Things (IoT), cloud computing, and big data analytics further improves intelligent decision-making and automated compliance monitoring. This study proposes a comprehensive smart contract framework incorporating blockchain deployment, consensus validation, automated execution, secure transaction recording, continuous monitoring, and performance evaluation. Mathematical models are used to assess execution efficiency, transaction integrity, computational performance, and security reliability, while key performance indicators include execution accuracy, operational efficiency, transaction transparency, processing latency, cost optimization, and compliance effectiveness. The results demonstrate that smart contracts significantly reduce manual intervention, improve transparency and security, accelerate business transactions, and enhance organizational accountability. The proposed framework provides a secure, efficient, and scalable approach for modern business agreement management, supporting enterprise digital transformation and trustworthy blockchain-based ecosystems.

H. Gill

No abstract is available for this record.

Wulf A. Kaal

No abstract is available for this record.

Bruno Fernandes Vieira, Fernanda de Araujo Meirelles Magalhães

Growing attention to environmental, social, and governance (ESG) concerns has prompted companies to incorporate conditions and obligations related to ESG indicators into their contracts and other agreements. Those contracts, defined as ESG metric contracts, include, for example, managers’ remuneration plans, supply chain and merger and acquisition agreements. Such contracts, however, are incomplete, as they do not account for all possible contingencies that may arise during the contractual relationship. This paper argues that smart contracts can mitigate some of the challenges associated with contract incompleteness, specifically in the context of ESG metric contracts. When considered as contracts, smart contracts have specific characteristics such as immutability and automation, which distinguish them from other forms of contracting. However, it remains challenging to incorporate all possible variables external to the blockchain into their cryptographic language. Consequently, a residual degree of incompleteness persists. Among the technological solutions created to address these questions, this work suggests that oracles and upgradeable smart contracts can be valuable tools, adding a needed layer of flexibility to these contractual relationships. In this sense, this paper aims to address these issues, analysing the pros and cons of the link between ESG metric contracts and smart contracts.

Amal Al‐Rasheed, Hashim Ali, Rahim Khan, Aamir Saeed

In the domain of Electronic Medical Records (EMRs), emerging technologies are crucial to addressing longstanding concerns surrounding transaction security and patient privacy. This paper explores the integration of smart cont... | Find, read and cite all the research you need on Tech Science Press

Omar Farouk Al Mashhour, Ahmad Shamsul Abd Aziz, Nor Azlina Mohd Noor

Smart contracts have shed light on a new era of contract law, which necessitates a proper legal response to address their unique characteristics, including automation, self-enforcement, coded, immutability, and irreversibility. While these features offer significant legal and practical benefits, they raised critical legal questions. The study aims to identify the legal challenges resulting from the implementation of smart contracts through an in-depth examination of various key aspects. To achieve the intended objective, the study adopted qualitative research utilising the library method and analysing data descriptively and analytically. The study revealed that applying the current conventional contract laws is inadequate and would create a bundle of unprecedented legal questions related to all the life cycle of the contracts, such as legal existence, formation and enforcement, jurisdictional issue, mechanism, unlawful activities, as well as the third parties. The study recommended establishing a specialised framework to address various issues, including the establishment of a regulatory and supervisory body, legislative clarification on various aspects of smart contracts’ such as exchange of will, place, and time, coding language and coding errors, essential functions, jurisdiction and enforcement, ADR, external partners such as Oracle and coding experts, in addition to other matters pertaining to validity and admissibility. Future studies may focus on using these questions as a way to measure the viability of their law to address the emergence of smart contracts.

Massimo Doria, Fabio Bassan, Maddalena Rabitti, Antonella Sciarrone Alibrandi · 5 authors

No abstract is available for this record.

Андрій Олександрович Гашко, Андрій Петрович Бондарчук, Максим Петрович Трембовецький, Олександр Ілліч Чумак

The article examines an automated method for verifying the correctness of smart contracts in the Solana blockchain network. The relevance of the research is driven by the growing popularity of Web3 applications and the need to ensure their security, as even minor errors in smart contract code can lead to significant financial losses. The primary goal is to develop an automated verification methodology for smart contracts that can detect vulnerabilities such as the absence of founder rights verification, arithmetic operation errors, and missing transaction check signatures. Using static analysis techniques in the Rust programming language, the authors propose an approach that enables rapid analysis-taking less than three minutes per contract-and automatic generation of reports on identified vulnerabilities. The methodology is based on analyzing external data flows through smart contracts, allowing for the early detection of potential threats. To automate the process, Python and Bash scripts are employed, integrating with cloud services such as Amazon Web Services to scale the analysis. Testing results on real Web3 applications demonstrate the effectiveness of the methodology, particularly in reducing analysis time and improving the accuracy of error detection. An important aspect of the research is the continuous updating of knowledge bases and analysis tools, enabling the consideration of new types of attacks and vulnerabilities. The article also highlights the importance of interoperability between different blockchain networks, which remains a challenging task but is a key element for the future development of Web3. The research results show that the proposed methodology is promising for scaling and adapting to new challenges in blockchain ecosystems such as Solana. Thus, the developed approach to automated smart contract verification not only enhances the security of Web3 applications but also contributes to their further development, ensuring stability and reliability in the dynamic evolution of blockchain technologies.