Ірина Володимирівна Антошина, I. В. Антошина, Ирина Владимировна Антошина, Iryna V. Antoshyna · 13 authors
The development of digital technologies is forcing lawyers to analyze phenomena that have recently looked fantastic. This means that a phenomenon like smart contracts has ceased to be a theoretical idea of improving commodity monetary transactions and now needs a legal justification. In this article, we have analyzed smart contracts in terms of their belonging to digital technologies and the legal field, that is, how they can be equated with legal agreements, if they are their analogues, what application can it find given the legislation in the field of civil (contractual) law. The purpose of our study was to establish a link between smart contacts and their legal regulation, with the feature of smart contract implementation perspectives. The methodology used are systemic and formal-legal methods, as well as methods of analysis and synthesis. The results found highlight that a smart contract is a computer code that is entered into a blockchain network to execute a transaction, the usual expression of which is an agreement between the parties. From a legal point of view, smart contracts are only a part of ordinary agreements (contracts) under the practice of international and national law.
PSC Business against Corruption under the Commissioner for Rights, Elena V. Prudius
The rapid spread of digital technologies, namely – innovative technologies, has set the trajectories for the development of a new stage in the economy of the information society. Such growth is closely related to the emergence of new ways of doing business, new ways of concluding contracts and fulfilling contractual obligations, new forms of existence of contracts and new contractual structures. Thus, there is a need to form a new regulatory environment that provides a favorable legal regime for the emergence and development of modern technologies, as well as for the implementation of economic activities related to their use. Of particular importance in this case is the conclusion of transactions in electronic form. One of the varieties of such transactions can be called a smart contract, which has long been actively distributed in foreign countries, but is not used so often in the Russian Federation. The main reason for the low number of such «smart» contracts is that the legislator has practically not paid attention to the legal regulation of this category. The purpose of the work is to analyze smart contracts, identify problems in their application and propose solutions to the current situation. The following methods were used: historical, comparative law, induction and deduction, analysis and synthesis. The author came to the conclusion that there is no legal definition of smart contracts and the specifics of its conclusion in the current legislation. Cryptocurrency is also closely related to smart contracts, which is also not fully regulated. In this regard, the author suggests ways to solve the identified problems.
The rapid development of the use of information and communication technologies, in particular smart contracts, necessitates legal regulation of the latter. The principle and mechanism of operation of smart contracts are of great legal interest, and although certain programmers the idea is expressed that a reasonable contract is software and is not a legal term, I do not agree with this possible, because a reasonable contract falls under the generally accepted definition of the contract, promotes monetary turnover and has real material consequences for the parties. The purpose of the smart contract is to transfer information and ensure that all participants fulfill the conditions set in the code. The potential of smart contract technology is capable of changing approaches to contract law no less than the advent of computers and the Internet has changed the way lawyers work. Taking into considerationthe diversity of scientific views on the legal nature of the smart contract, the lack of established scientific approaches, the considerable scientific interest of the topic requires its proper theoretical justification.
Mark Fenwick, Marcelo Corrales Compagnucci, Stefan Wrbka
This book brings together a series of contributions by leading scholars and practitioners to examine the main features of smart contracts, as well as the response of key stakeholders in technology, business, government and the law. It explores how this new technology interfaces with the goals and content of contract law, introducing and evaluating several mechanisms to improve the 'observability' and reduce the costs of verifying contractual obligations and performance. It also outlines various 'design patterns' that ensure that end users are protected from themselves, prevent cognitive accidents, and translate expectations and values into more user-oriented agreements. Furthermore, the chapters map the new risks associated with smart contracts, particularly for consumers, and consider how they might be alleviated. The book also discusses the challenge of integrating data protection and privacy concerns into the design of these agreements and the broad range of legal knowledge and skills required. The case for using smart contracts goes beyond 'contracts' narrowly defined, and they are increasingly used to disrupt traditional models of business organisation. The book discusses so-called decentralised autonomous organisations and decentralised finance as illustrations of this trend. This book is designed for those interested in looking to deepen their understanding of this game-changing new legal technology.
Marina Kasatkina* Consumer Protection in the Light of Smart Contracts DOI: 10.54148/ELTELJ.2021.1.95 Abstract This article aims to evaluate how common forms and methods of protecting the rights and legitimate interests of consumers are applicable in the area of smart contracts. The author highlights the potential negative effects of smart contracts on consumer protection. In this […]
Seryozha E. Melkonyan, Natali A. Galoyan, Anna Norkina, Pavel Y. Leonov
The article reveals problems in the trade between EAEU countries, proposing the solution. Such processes as globalization and digitalization are caused by the technological advance influencing trade among EAEU countries. Some of the problems have been identified relatively recently, and some have been discovered long time ago, however, they have not found a proper solution. The existing shortcomings in the activities of the EAEU pose a significant threat to the security of the member States. The authors of the article stress the solution to the current problems faced by members of EAEU, offering the implementation of blockchain technologies. New model of trading platform, from the authors’ stand point, will allow member States to solve current problems and to prevent illegal actions.
A number of tools used within LegalTech 2.0. and 3.0. apply blockchain and distributed ledger technologies 3 . This is not a new technology, the concept of distributed record keeping is over 50 years old (a memorandum no. RM-340-PR by Paul Baran 4 from 1964). What is innovative, is its application in a law firm and its adaptation to the needs of lawyers. Blockchain has been around for a number of years (paper by a 'Satoshi Nakamoto 5 ' from 2008) and has been identified by, among others, the European Union 1.
David Nadler Prata, H. X. Araujo, Cleórbete Santos
This work begins with an explanation of fundamental concepts about Bitcoin and Blockchain and then explores the main definitions of smart contracts in the updated literature, demonstrates some categories of smart contracts, explores the most widely used platforms that support smart contracts, and gives greater prominence to the Ethereum platform for its more robust characteristics regarding the creation and storage of this type of contract. It then concludes by demonstrating the advantages of smart contracts in relation to traditional contracts, as well as addressing their legal validity.
Irina Astrakhantseva, Roman Astrakhantsev, Alexey Los
The article focuses on the relevance of establishing legal norms for virtual currency, which is currently working in the gray zone. The article substantiates why cryptocurrency was referred to other property in the framework of civil law. The author suggests a definition of cryptocurrency to introduce it into legislation. Attributes of cryptocurrency theft are considered. The most attention is given to fraud, in particular different types of cryptocurrency phishing, and possible ways of criminal prosecution for cryptocurrency theft.
Abstract: The article is devoted to a new phenomenon for the Russian legal and economic space – the smart contract. The author of the article, based on the novel of Part 2 of Article 309 of the Civil Code of the Russian Federation, considers the dynamics of a civil obligation that is fulfilled through the use of information technologies. Thus, the article structurally highlights the parts devoted to the actual dynamics itself, the stage of occurrence of an obligation mediated by a smart contract; the stage of performance of such an obligation through the prism of the principles of performance; as well as the stage of termination of the obligation under study. The paper shows three main scientific approaches that reflect the mechanism of occurrence of an obligation that is fulfilled through the use of information technologies; the legal characteristics of click-wrap and browse-wrap agreements are given; the specifics of the known principles of performance of obligations in the performance of obligations using information technologies are reflected; it is concluded that it is necessary to adapt the law of obligations to digital realities, which is possible without a radical "breaking" of the pandect system of Russian civil law and the key approaches of the legislator to the main legal instruments of civil law.
П А Команов, Х Ю Ревазов, Д А Тавасиев, Пальмов, С.В.
В настоящее время технологии блокчейн находят высокий спрос в разных сферах. Широкое применение находят и смарт-контракты, которые записываются в блокчейн. Наибольшую популярность на данный момент имеют приложения, написанные с помощью смарт-контрактов на платформе Ethereum. Смарт-контракты, как и обычные программы, подвержены различным уязвимостям. В статье будут рассмотрены серьезные уязвимости, методы и инструменты, которые были менее освещены в сферах информационной безопасности и IT, но имеющие огромный потенциал в области обеспечения безопасности смарт-контрактов. Основная цель данной статьи заключается в том, чтобы дать представление об актуальных и серьезных уязвимостях в смарт-контрактах Ethereum и на основе актуальных угроз подобрать актуальные методы по обеспечению безопасности смарт-контрактов на платформе Ethereum.
Decentralized finance is a decentralized network based on smart contracts of blockchain technology and specific decentralized applications (DAPPS). It not only can enhance users' information privacy and transaction equity, but also has incomparable advantages in protecting asset security, reducing financial cost and de-trust. The opportunities of decentralized financial development include: Solving the problem of information asymmetry in traditional financial transactions; Providing safe and convenient asset management and inclusive finance; Promoting the formation of broader global financial services. In order to better promote decentralized finance development, we need to actively follow and embrace its progress trend; Establish "weakly centralized" structure based on Consortium Blockchain; Strengthen international coordination and cooperation of RMB; Improve the regulatory systems and relevant laws and regulations.
The article focuses on the relevance of establishing legal norms for virtual currency, which is currently working in the gray zone. The article substantiates why cryptocurrency was referred to other property in the framework of civil law. The issues of referring cryptocurrency to such objects of civil rights as monetary funds, currency values, securities, intellectual property, intangible assets, etc. are considered in detail. Based on a comprehensive analysis, the classification of cryptocurrency as a different property within the framework of civil law is substantiated. The author's definition of cryptocurrency is given as a cryptographically protected property with signs of cryptographic authentication, decentralization, management through consensus, and the use of distributed ledgers. The economic essence and legal status of the cryptocurrency proposed by the authors emphasize the exclusively digital version of the existence and use of this object, indicates the possibility of the turnover of this asset, delimits the concept of cryptocurrency, non-cash and electronic money. The definition of a crypto asset as property makes it possible to develop tax legislation, since the implementation of cryptocurrency is close to investment instruments, which makes it possible to clarify the issue of paying such a tax as VAT. Cryptocurrency as property describes not the thing itself, but the legal relations associated with it, that is, those rights that, according to the rules of law, can be exercised. The article also raises one of the main issues that must be resolved - this is the recognition of ownership of this specific type of property. According to the authors, the starting point for determining the ownership of the cryptocurrency should be that the subject of the right will be the owner of this asset if he legally gained access to the private key by analogy as the subject acquired the ownership of a tangible asset on a legal basis.
Blockchain technology currently occupies one of the central places in the economy and business; it has the potential to create new foundations for existing economic systems. For this reason there is a huge interest in studying the use of distributed ledger technology in the legal literature. However, at the same time it is necessary to note that this topic is understudied, which is due to this phenomenon's novelty. The relevance of the research topic is determined by the need to analyze in a holistic way the definitions of the concept of distributed ledger technology (blockchain), features of using the blockchain technology. The need for such research is due to the absence of a comprehensive legal regulation for the use of distributed ledger technology in the securities market. In this article the concept of blockchain technology is considered, features of its use are highlighted. It is concluded that blockchain technology can be selected for the use in the securities market, including when placing securities, conducting transactions with securities and carrying out accounting activities in the securities market, in organizing trading of financial assets and services.
Стремительное развитие технологии блокчейн сделало криптовалюты широко распространенными по всему миру платежными средствами, используемыми в качестве альтернативной онлайн-валюты. Одновременно с этим криптовалюты также зарекомендовали себя как идеальная валюта для киберпреступников из-за их нерегулируемого и псевдоанонимного характера. Такое положение дел привело к возникновению возможности использования криптовалют в качестве инструмента содействия преступлениям, совершаемым как в киберпространстве, так и в реальном мире, включая легализацию (отмывание) денежных средств, кибер-вымогательство, фишинг, взлом, кибермошенничество и иные преступления в финансовой сфере. Учитывая высокотехнологичный, децентрализованный и, следовательно, сложный характер криптовалют, криминологам важно иметь базовое представление о методах работы, используемых в криптовалютных преступлениях. Таким образом, в представленных тезисах проанализированы проблемы, связанные с использованием криптовалюты для содействия преступной деятельности, и рассмотрены методы противодействия им. The rapid development of blockchain technology has made cryptocurrencies widespread around the world, used as an alternative online currency. At the same time, cryptocurrencies have also established themselves as the ideal currency for cybercriminals due to their unregulated and pseudo-anonymous nature. This state of affairs has led to the emergence of the possibility of using cryptocurrencies as a tool to facilitate crimes committed both in cyberspace and in the real world, including money laundering, cyber extortion, phishing, hacking, cyber fraud and other crimes in the financial sector. Given the high-tech, decentralized and therefore complex nature of cryptocurrencies, it is important for criminologists to have a basic understanding of the methods of operation used in "cryptocurrency crimes." Thus, this article analyzes the issues of using cryptocurrency to promote criminal activity, as well as countering issues.
The article describes involvement of modern technologies in combating corruption and their actuality in the current digitalization of the world. Such ICT tools as Digital government services, Big Data Technologies, Distributed ledger technologies (DLT) and blockchain, data mining, crowdsourcing technologies, analytical (Forensic) tools and electronic systems for verification of income declarations, as well as foreign experience of their usage and implementation are thoroughly examined.
Одним из условий договора аренды в предпринимательстве, если одной из сторон выступает юридическое лицо, является письменная форма. Для признания смарт-контракта заключенным в письменной форме, необходимо наличие условий оферты и акцепта. В данном случае офертой будет выступать предложение заключить договор аренды через смарт-контракт (например, через приложение у номера в отеле, после оплаты которого стороне приходит пароль или выдается ключ от номера с электронным замком, подключенным к сети интернет) и акцепт. Данный способ чем-то напоминает заключение договоров розничной купли-продажи в вендинговых автоматах. Термин происходит от английского глагола «to vend» - продавать, торговать. В настоящее время в юридической и экономической терминологии «вендинг» используется для обозначения особого вида торговой деятельность, а именно - торговли через специальные автоматизированные устройства (торговые автоматы). Также необходимы конклюдентные действия, но основное отличие кроется в том, что для договора аренды, построенном на смарт-контракте необходима ЭЦП стороны и связь системы с интернетом, чтобы информация была внесена в соответствующий реестр данных, была создана новая цепочка блоков. Кроме того, цепочка блоков в смарт-контракте намного сложнее, чем при вендинге. Применение смарт-контракта и интернета вещей кроет в себе также большое количество плюсов, но и недостатков. Существенным является вопрос, связанный с финансовой частью, безопасностью и конфиденциальности. В первом случае, в связи с отсутствием широкого распространения таких отношений -стоимость их оформления в системе смарт-контракт будет колоссальна. One of the conditions of a lease agreement in an enterprise, if one of the parties is a legal entity, is a written form. To recognize a smart contract as concluded in writing, it is necessary to have the terms of the offer and acceptance. In this case, the offer will be an offer to conclude a lease agreement through a smart contract (for example, through an application near a hotel room, after payment of which the party receives a password or a key to a room with an electronic lock connected to the network internet) and acceptance. This method is somewhat reminiscent of the conclusion of retail sales contracts in vending machines. The term comes from the English verb "to vend" - to sell, trade. Currently, in legal and economic terminology, "vending" is used to denote a special type of trading activity, namely, trading through special automated devices (vending machines). Concrete actions are also necessary, but the main difference lies in the fact that for a lease agreement built on a smart contract, the EDS of the party and the connection of the system with the Internet are required for the information to be entered into the corresponding data register, a new block chain was created. In addition, the blockchain in a smart contract is much more complex than in vending. The use of a smart contract and the Internet of Things also has a large number of advantages, but also disadvantages. Financial, security and privacy issues are essential. In the first case, due to the lack of widespread distribution of such relations, the cost of their registration in the smart contract system will be colossal.
Поднимая вопрос о месте смарт-контракта в экономико-правовой сфере, также нельзя не упомянуть об основных экономико-правовых положения и то как они адаптируются применительно к смарт-контрактам в предпринимательстве и какими особенностями обладают. Характерными принципами, применяемые к смарт-контрактам в предпринимательстве, относятся: судебная защита, добросовестность, защита слабой стороны, свобода договора. смарт-контракт хоть и предполагает защиту интересов слабой стороны, но это прежде всего компьютерная программа, подчиняющаяся определенной логике и цель, которой является определенность и эффективность выполнения запрограммированных условий контракта. И совсем избежать участие посредников, таких как суд (в случае возникновения и необходимости разрешения споров) при использовании смартконтрактов не получится, каким бы иным образом это не описывалось в работах других правоведов. Смарт-контракт не предполагает защиту слабой стороны отношений, поскольку его основная цель это автономность и самоисполнимость условий договора. Raising the question of the place of a smart contract in the economic and legal sphere, one cannot fail to mention the main economic and legal provisions and how they are adapted in relation to smart contracts in entrepreneurship and what features they have. Typical principles applied to smart contracts in entrepreneurship include: judicial protection, good faith, protection of the weak side, freedom of contract. A smart contract, although it presupposes the protection of the interests of a weak party, is primarily a computer program that obeys a certain logic and a goal, which is the certainty and efficiency of fulfilling the programmed contract conditions. And completely avoiding the participation of intermediaries, such as a court (in case of arising and the need to resolve disputes) when using smart contracts, will not work, no matter how otherwise it is described in the works of other legal scholars. A smart contract does not imply the protection of the weak side of the relationship, since its main purpose is the autonomy and self-enforcement of the terms of the contract.
Вопрос о экономико-правовом регулировании использования технологичной формы смарт-контрактов в предпринимательстве на сегодняшний день не находит отражения в научных исследованиях ученых в связи с недавним появлением и развитием этого направления. В настоящий момент отсутствует специальное исследование возможности использования смарт-контрактов в различных сферах предпринимательской деятельности, несмотря на перспективность этого вопроса и возможности экономии временных и денежных затрат для физических и юридических лиц. Существует достаточное количество научных статей, освещающих экономико-правовые особенности смартконтрактов. Смарт-контракт относится не столько к новой форме договора в предпринимательстве. Это связано с тем, что смарт-контракт может применяться во всех видах договоров (поставки, аренды, страхования, купли-продажи) в предпринимательской среде, что не делает его каким-либо универсальным, новым видом договора. Он направлен лишь на упрощение процедуры заключения таких договоров в предпринимательстве. Но вместе с тем, его уникальные признаки и особенности, возможности по программированию условий договора в предпринимательстве, установлению возможности их автоматического исполнения не позволяют отнести его к обычной письменной форме экономико-правовых договоров, но и не дает выделить его в новую форму договорных отношений в предпринимательстве. The issue of economic and legal regulation of the use of a technological form of smart contracts in entrepreneurship today is not reflected in scientific research of scientists in connection with the recent emergence and development of this direction. At the moment, there is no special study of the possibility of using smart contracts in various areas of entrepreneurial activity, despite the promising nature of this issue and the possibility of saving time and money for individuals and legal entities. There is a sufficient number of scientific articles covering the economic and legal features of smart contracts. A smart contract refers not so much to a new form of contract in entrepreneurship. This is due to the fact that a smart contract can be used in all types of contracts (supply, lease, insurance, purchase and sale) in the business environment, which does not make it any universal, new type of contract. It is aimed only at simplifying the procedure for concluding such contracts in business. But at the same time, its unique features and features, the ability to program the terms of the contract in business, to establish the possibility of their automatic execution do not allow it to be attributed to the usual written form of economic and legal contracts, but also does not allow it to be singled out into a new form. contractual relations in entrepreneurship.