The subject of the research is legal norms aimed at regulating by law relations in the field of concluding and executing smart contracts, including issues of protecting the rights of the parties to such contracts, including consumers. The object of the research is social relations arising in the process of creating, concluding and executing of smart contracts. Particular attention is paid to the theoretical and practical aspects of the definition of the concept of “smart contract” and its essence, as well as its legal status. In addition, the article considers approaches to defining the essence of institutions that are closely related to the category of “smart contract”, such as “cryptocurrency”, “digital ruble”, “mining”. The aspects of the protection of fundamental rights of the parties involved in the considered legal relationship, including consumers, are also analyzed. Examples of court decisions regarding the corresponding category of cases are given. The novelty of the research lies in determining the current approaches in relation to the essence, concept and legal status of smart contracts, including the current position of law enforcement practice in relation to this issue. In addition, the novelty of the study lies in considering the practical aspects of the conclusion and execution of smart contracts, including, indicating examples of blockchain platforms on the basis of which smart contracts can function. Ultimately, the study led to the development by the author of some proposals in order to improve the relevant legislation. In particular, the author proposed to consolidate at the legislative level the legal definition of the concept of “smart contract”, indicating the appropriate wording.
Over the last decade, the application of digital technologies has been a special matter of interest in the legal profession. Smart contracts and blockchain technology are among the most interesting and potent developments encountered by the legal system. There are many potential applications of smart contracts. After much research conducted in that field, the law of obligations aspects of smart contracts seems clear. Smart contracts are not legally binding contracts per se. However, smart contracts may be legally binding if they fulfil obligations law requirements. Also, smart contracts may be used as an effective tool for contract enforcement. There is no need for special regulation but improvement of the general understanding of smart contracts and blockchain technology is necessary, especially among lawyers. However, an important issue that is yet undiscussed is the human rights aspect of smart contracts. The application of smart contracts raises concerns about potential violations of human rights and fundamental freedoms.
Ulančani blokovi (eng. blockchain) jedna je od tehnologija s velikim značajem u četvrtoj industrijskoj revoluciji. Jednostavno, blockchain je zapis podataka o transakcijama između stranaka u mreži. Blockchain se dijeli na dvije vrste: sa i bez ograničenog pristupa. U ovom radu analiziramo one s ograničenim pravom pristupa, a to su Hyperledger Fabric, Quorum i Corda. Implementacija rješenja je odrađena korištenjem Fabric-a na primjeru dijeljenja zamjenjivih tokena koji predstavljaju bodove za menzu i nezamjenjivih tokena koji predstavljaju rektorove nagrade. Tokeni su implementirani u obliku pametnih ugovora i hipotetski se razmjenjuju između FER-a i FSB-a. Analiza je provedena korištenjem Hyperledger Caliper radnog okvira na primjeru razmjene zamjenjivih tokena između stranaka.
Smart contracts can help in the elimination of the social problem of opportunism as these contracts offer an escrow structure for the assets from both parties involved in the exchange. Smart contracts support various transactions along with the monetary one. The rules coded can be applied to any transaction taking place over the blockchain. This evolution of blockchain technology is known as blockchain smart contracts – Blockchain 2.0. The power of blockchain has led businesses and brands to rethink existing trading models. They are re-evaluating opportunities that would have seemed non-viable earlier and analysing the opportunity frontiers to benefit society. The collaboration of blockchain and the internet of things offered a new path to enforce and monitor compliance in the whole supply chain. A new smart economy is being built globally to boost trust on digital platforms. The boundaries are no longer barriers and there are infinite opportunities, with new possibilities and directions.
En este trabajo se propone el análisis de dos realidades que están condenadas a entenderse, además forzosamente de manera absolutamente armónica: las pujantes nuevas tecnologías, personificadas a los efectos buscados en la blockchain y los denominados smart contracts, de un lado, y el sistema de derecho contractual, que se inserta con tanta solera histórica en nuestro ordenamiento jurídico y que tantos cambios ha venido experimentando para adaptarse fehacientemente a la realidad social contemporánea y las problemáticas que gesta en su ámbito material, de otro. Se trata de exponer, rápidamente, la primera de esas vertientes para comprobar, posteriormente, si cuenta con un engarce pacífico con la segunda y su imperativa fuerza normativa. En su caso, se reflexionará sobre la necesidad de adaptar ese complejo normativo a las innovaciones tecnológicas, habida cuenta de que en las mismas va a producirse el fenómeno de la contratación, sirviéndose de ellas y sus ventajas, procurando que no faciliten abusos o desafueros.
Customs surveillance of intellectual property is an efficient way to quickly and effectively provide legal protection to the right-holder, as it allows to nip the infringements in the bud. Technology has drastically changed the means and mechanisms of customs enforcement, as it increases the possibilities of identifying and detaining goods infringing IPRs, and makes it more feasible to assess in advance where control is required. However, assessing in advance and acting when appropriate does not always match well with fundamental intellectual property principles (territoriality), global trade norms (freedom of transit), global intellectual property rules, and due process requirements. This chapter explores some of the challenges and opportunities brought by AI, big data and distributed ledger technologies to customs enforcement of IPRs. It looks at AI’s transformative influence on IP enforcement and the digitization and use of big data in customs control.
La figura del smart contract fue concebida a finales del siglo pasado, sin embargo, ha ido pasando desapercibida todos estos años hasta el desarrollo de la tecnología de la cadena de bloques (o blockchain) y, en especial, hasta el “boom” de las criptomonedas de finales de 2017. El desarrollo de aplicaciones de esta tecnología está incrementando y resulta necesario realizar un análisis de las consecuencias jurídicas que tiene su uso. De este modo, mediante este trabajo se trata de abordar su concepto, su naturaleza jurídica y se pretende analizar algunos de los posibles problemas jurídicos derivados de su uso para así poder dar con algunas soluciones que hagan viable su estandarización en el Derecho contractual.
This article is devoted to the analysis of the legal framework for the digitization of public procurement, doctrinal approaches to the use of smart contracts in procurement. It studies the process and technologies of formation and development of smart contracts, blockchain, contracting in ethereum, the mechanisms of using smart contracts in public procurement. It also explores aspects that need to be addressed in improving the procurement system through smart contracts and develops recommendations.
Possible scenarios for using blockchain technology in the field of education are considered. Methods and technologies of tokenization of assets, related to the educational process, are investigated. It is concluded, that the blockchain technology is decentralized and transparent with a high degree of reliability, which ensures the equality of all users of the chain's services. The transparency of the technology guarantees the participants in the process against abuse and forgery of documents. The study of the features of smart contracts made it possible to form the advantages of smart contracts in the field of education. This is, first of all, the conclusion of agreements without the participation of third parties, as well as the security and confidentiality of agreements. This ensures that the terms and subject of the agreement are kept secret, and that no one else can amend the agreement. At the same time, storing the contract in encrypted form ensures its confidentiality. A decrease in the cost of operations was noted. Tokenization of educational assets is considered on the example of preparing and defending a thesis with the subsequent registration of a diploma. The processes of passing the thesis in the context of using blockchain technology and issuing smart contracts are considered in detail. The advantages of using blockchain technology and smart contracts are illustrated with specific examples. A study of the means and mechanisms for ensuring the confirmation of the authenticity of educational documents, the confidentiality of students' personal cards, and student identification has been carried out. To create a decentralized distributed ledger for tokenization of educational assets, it is proposed to use blockchain technology and smart contracts based on the Ethereum platform
Abstract The question whether digital assets such as cryptocurrencies are “property” as a matter of law has been the subject of academic debate almost since the inception of the bitcoin network in 2009. The question arises from the fact that such assets, and cryptocurrencies in particular, do not fit into traditional categories of property as understood by the common law, being neither “choses in possession” nor “choses in action”. However, following a series of decisions in the last couple of years, it now seems reasonably settled that this question will be answered in the affirmative, although no cases have so far reached the highest level of the courts. The consequences have yet to be worked out. One obvious consequence is that cryptocurrencies can be the subject of a trust. However, the unique features of digital assets give rise to a number of interesting problems, both theoretical and practical, on which there is little authoritative guidance.
The purpose of the present article is to gain an understanding of the opportunities and difficulties created by the introduction and development of the practice of network (smart) contracts. Our research methodology is based on a holistic set of principles and methods of scholarly analysis employed by modern legal science. It uses a dialectical method involving both general approaches (structural system method, formal logical method, analysis and synthesis of individual elements, individual features of concepts, abstraction, generalization, etc.) and particular methods (legal technical, systematic, comparative, historical, and grammatical methods, method of the unity of theory and practice, etc.). We analyze the views of lawyers and other specialists from Russia and abroad, legislative innovations in the field of digital technologies, the practice of blockchain-based smart contracts, and the main risks (whether legal, technological, operational, or criminogenic) of smart contracts for economic activities with a study of their causes. In the present-day situation, it is necessary to move from the legal definition of the smart contract and its legal and technological characteristics, advantages and disadvantages to the implementation of startups in a wide range of areas, especially business, public regulation, and social relations. Scholarly and information support for such processes will contribute to the development of industry, public administration and digital technology applications to improve the life of individual citizens and society as a whole. The introduction of smart contracts does not require the adoption of new laws or regulations. Instead, one should adapt and, possibly, modify existing legal principles at the legislative and judicial levels to pave the way for the use of smart contracts and other new technologies. The system of contract law provides a sufficient framework for regulating transactions without the introduction of any new legal categories. We propose approaches to the legal definition of the smart contract and identify a set of problems that must be solved at the legislative and technical legal levels in order to implement smart contracts effectively in different spheres of life.
Käesolev väitekiri käsitleb hajusraamatutehnoloogia (HT) kohtlemist Eesti ja EL õiguse alusel konkreetsete kasutusjuhtude näitel. HT on “mitmeotstarbeline tehnoloogia”, millel on rida erinevaid kasutusvõimalusi, sh. selle kõige tuntumad näited nagu plokiahelatehnoloogia ning bitimünt. Kuivõrd olemasolev õigusraamistik on loodud tsentraliseeritud infrastruktuuride ning mitte hajutatud andmestruktuuride jaoks nagu seda on HT, siis tihtipeale takistab olemasolev õigusraamistik HT kasutamist selles sisalduvate nii otseste kui ka kaudsete kallutatud nõuete tõttu. Nimetatud dissonants on sarnane analoogmaailma jaoks loodud õigusnormide takistava mõjuga digitaalsete lahenduste kasutuselevõtmisel. Seega ei ole väitekirjas käsitletavad takistused vaid HT-le omased vaid seotud iga uue tehnoloogia kasutuselevõtuga. Toodud probleemi uuritakseväitekirjas kolme konkreetse HT kasutusjuhu pinnal: (i) bitimündi vahetusteenuse osutamine; (ii) HT-põhise osanike nimekirja pidamine ; (iii) HT-põhise hübriid-targa lepingu ning elektroonilise allkirja kasutamine. Uurimise mõõdupuuna kasutatakse tehnoloogia neutraalsuse põhimõtet ning funktsionaalse samaväärsuse alampõhimõtet, et tuvastada kallutatud nõudeid ning piirata riigivõimu voli eelistada konkreetseid tehnoloogiaid samas teisi tehnoloogiaid diskrimineerides. HT kasutusjuhtude pinnal saab järeldada, et olemasolev õigsraamistik ei ole tehnoloogia-neutraalne ning eelistab tsentraliseeritud lahendusi ning ei taga HT-põhistele funktsionaalselt samaväärsetele lahendustele samaväärset kohtlemist. Arvestades toodud järeldusi uuritakse väitekirjas ka kallutatud nõuete põhjuseid ning strateegiaid kuidas jätkusuutlikult lahendada kallutatusest tekkinud takistused HT kasutusele. Väitekirja teema on oluline arvestades ka 2020. aasta lõpus avaldatud EL-i digitaalse finantspaketi määruste eesmärki, milleks on toetada HT kasutuselevõttu EL-is.
For several years, almost everyone has been talking about blockchain. The underlying distributed ledger technology has become (in)famous as the technology behind cryptocurrencies such as Bitcoin and Ether. But what about blockchain and intellectual property like patents and copyright? Could this technology be used for the protection and enforcement of such rights? Which role can smart contracts play in this regard? This article focuses on questions concerning the requirements for provingthe protection of technical inventions as well as on the administration and exploitation of intellectual property rights. The latter could play an important rolefor intellectual property, which has not been registered or is not subject to registration, such as copyright. For trade secrets, a blockchain could be a useful tool for providing appropriate confidentiality measures. Last but not least, smart contracts in particular could be involved in connection with the transfer and, even more importantly, the licensing of intellectual property and mainly of software.
The creation of platforms for the administration of justice in the context of the COVID-19 pandemic is accelerating and requires urgent solutions to emerging problems.The process of legalization of e-Justice is launched in Russia and is now on the way of expanding to ensure a wider use of various means of communication in trials and introduce digital platforms that use distributed ledger technology and artificial intelligence.The article analyzes the characteristics of online hearings as an element of e-justice, identifies advantages and problematic aspects of their use.The authors study the differences between the new format of online litigation and the ordinary way of participating in remote litigation: videoconferencing that is quite established in legal practice.The study examines issues of legal policy on the new way of trial participation, considers the restrictive measures relating to the spread of COVID-19 in the Russian Federation.The article analyzes the risks associated with the administration of justice online regarding the necessity of respecting the principles of the judicial process, such as the accessibility of justice, adversary principle, the secrecy of the judges' hearing, the guarantee of confidentiality of personal information.The authors propose a series of organizational, technical and procedural measures purposed to ensure effective use of online participation.A conclusion that it is necessary to develop special approaches and long-term targeted preventive measures is drawn on the basis of foreign experience of the functioning of judicial authorities during a pandemic.
The use of digital technology is increasing in all spheres of society. And the right is no exception. Many technologies are designed to simplify work, save time and serve the goals of globalization of relations, as well as their decentralization. Smart contracts are one way to achieve this goal. The article discusses the possibility of applying smart contracts in the workplace, where the personal nature of relationships is one of the features that directly affect the prospects for the use of smart contracts in the area in question.
The article analyzes the jurisprudence under the treaties in the field of construction for 2018–2020. The most common disputable situations that provoke lawsuits are highlighted. As a result of the analysis of scientific literature and foreign practice, a conclusion is formulated about the advantages of implementing and using smart contracts in the field of construction, provided that the necessary institutional environment is formed and the legal field.
The article reviews the essence of blockchain – the technology of new generation, raised from the computer and internet development. The article also analyses several aspects in legal regulation of one of the most famous cryptocurrencies: Ethereum by using the blockchain technology. Except for that, the article describes steps of computer and internet development and the involvement of blockchain in these steps, as a revolutionary invention. The article analyses the essence of blockchain technology, the steps of its development and also, coming from its high confidentiality, the possibilities of its legal regulation by the states. In this regard, several countries are represented as an example (Great Britain, Vietnam, Canada). Except for blockchain, the article reviews essence and specification of Ethereum, as the cryptocurrency, as well as smart contract, analyses the area of smart contract development and the indispensability of its legal regulation, because they have an ability to detach simple consumer agreements in one of the directions of digital economy – electronic commerce, in the nearest future. In addition to this, the binary nature Ethereum is also analyzed, in particular it can be a method of payment, as well as have a form of a legally binding deal – contract with the high self-fulfillment mechanism and securing parties confidentiality standards.
The article discusses such new financial instrument as cryptocurrency. The authors present the characteristic features of cryptocurrency, advantages and risks of its use. The analysis is aimed at studying cryptocurrency as a legal phenomenon. The article attempts to determine the legal nature of cryptocurrency in accordance with modern foreign and Russian regulations. The authors consider the question of whether cryptocurrency can be the subject of crimes. The result of the analysis is the conclusion about the multidimensionality of the phenomenon and the need for detailed legislative regulation.
Smart contracts are computer protocols that self-enforce encoded terms. They arguably allow for individual freedom and increased sovereignty from inconveniences. The enthusiasm goes as far as foreseeing that smart contracts will make contractual legal oversight obsolete. However, whereas contract law theory evolved to acknowledge the importance of flexibility and relationality, smart contracts activists defend the opposite direction, arguing for contractual rigidness and denial of social norms supporting complex transactions. This paper departs from this paradox to argue that (i) smart contracts based on existing technology are unlikely to thrive in complex contractual settings, and (ii) contextual analysis is important for LawTech’s propositions. Smart contracts, blockchain, system’s theory, social norms, transaction cost, flexibility, relationality, trust, co-operation, contractual governance
Introduction: the digitalization of public relations and the emergence of smart contracts have created the need to study what a smart contract is and whether it is subject to the general principles of the law of obligations. Methods: the methodological framework for the research is a set of methods of scientific knowledge, among which the main ones are the methods of historicism, consistency, and analysis. Results: the possibility of extending the principles of the law of obligations to the relations of the parties when they conclude a smart contract is analyzed. Conclusions: the conclusion is made about the extension of the principles of the law of obligations to smart contracts with the features due to the nature of smart contracts.
<ns2:p>The modern period of development of society and the state is characterized by digitalization of all spheres of social life. One of the tools used in the process of digitization of law is a smart contract, which is considered as a program code intended for functioning in an information system and used as a form of fixing a set of obligations between the parties, as well as a method for automated fulfillment of these obligations. The purpose of the study is a comparative law analysis of the practice of legislating the concept of «smart contract» in legal acts of different states and the justification for considering the use of smart contract as a legal technology. The methods: the author uses general scientific methods (system, historical, formal-logical), specific scientific methods (mathematical, linguistic) and special-legal methods (comparative law, legal forecasting, interpretation of law). The results: the study concludes that the use of a smart contract could be considered as a special type of law enforcement technology representing an activity aimed at implementing the subjective rights and legal obligations of legal entities, carried out using self-executing program code that exists in the digital environment, which allows, first, to record and transmit certain legal information (in this case, a smart contract is considered as a type of written contract form), as well as to automate the fulfillment of obligations when certain conditions are met (in this case, a smart contract is understood as an automated technical method for fulfilling obligations).</ns2:p>