Abdul Rokhim, Sunardi Sunardi, Muhammad Resky Rakhim
Crypto is a non-wuud commodity that is digital using cryptography. The legality of crypto assets in Indonesia has not received firm regulation in their use, and there is a need for a supervisory body that regulates all transaction activities for legal protection for investors in trading digital assets. The research method used in this study is to use normative juridical research methods, using a statutory approach (statute approach) and a conceptual approach (conceptual approach). The result of the discussion of this study is that for the legality of crypto assets, Bank Indonesia places them as digital money so that they are prohibited as a means of payment, while the Ministry of Trade places them as digital assets so that they are allowed to be traded on the Futures Exchange. Normatively, there is still opposition in looking at crypto money. Legal protection of investors who make crypto asset buying and selling transactions get legal protection for losses that can be caused both criminally, namely losses caused by cyber crime and civil losses due to Unlawful Actions.
The development of Non-Fungible Tokens (NFT) has significantly impacted global economic trade. However, in Indonesia, the regulation surrounding NFT remains insufficient, particularly concerning law enforcement and equitable royalty distribution for commercialized artistic works. This research adopts a normative juridical approach, employing statutory, comparative, and conceptual analysis methods. Findings indicate that NFT, as three-dimensional artistic creations, fall under the protection of the Copyright Act. While Indonesia has addressed NFT regulation in various laws and government regulations, detailed provisions regarding digital transactions involving three-dimensional artworks are lacking. Moreover, inadequate legal safeguards for NFT sales underscore the pressing need for legal reform. Therefore, the adoption of Droit De Suite through legal transplantation is proposed as a prudent strategy for legal modification, offering numerous normative and operational benefits. Droit De Suite is a principle born from the Berne Convention, where the requirement to apply Droit De Suite is that the state must give permission or legally recognize that the state has been regulated in its legislation. In addition, Droit De Suite is the right given to the artist or creator and his heirs to resell copyrighted works that have been produced previously, so that the creator's heirs are entitled to a share of the resale of a work. This approach holds promise for enhancing the legal framework surrounding NFTs and promoting fair treatment of artists and stakeholders in Indonesia's digital economy landscape.
This article aims to find out the validity of the Civil Code smart contact. It is hoped that the results of this research can be used by parties, especially people who have started carrying out transaction and contract activities using blockchain technology in the form of smart contracts. This research method uses normative law, the use of legal materials includes primary and secondary legal materials, through data collection techniques in the form of literature studies. A conceptual approach and a statutory approach were used in this research. The data analysis technique used is a deductive data analysis technique using the syllogism method. The validity of an agreement is assessed based on an understanding of article 1313 and the main elements of the validity of an agreement based on article 1320 along with the principle of freedom of contract in article 1338 of the Civil Code. It is necessary to understand that smart contracts are required to fulfill the terms of the agreement in their implementation
NFT adalah salah satu bentuk aset dibidang seni, NFT dapat berfungsi sebagai bukti kepemilikan dan keberadaan aset digital dalam bentuk karya seni, video, foto, hingga musik. Lebih lanjut, pembuat aset digital dapat memperoleh keuntungan dari perdagangan di pasar NFT atau pertukaran secara peer-to-peer. Dengan menggunakan sistem blockchain untuk fungsi validasi dari keaslian suatu karya. Metode penelitian yang digunakan dalam penelitian ini ialah, yuridis-normatif. Metode yuridis- nasional dan merupakan pedoman sosial yang dipakai sebagai standar berperilaku. (Marzuki, 2005). Perlindungan hukum atas aset digital NFT yang dijamin keamanannya tercermin dalam UU Hak Cipta No. 28 tahun 2014. Salah cara untuk mencegah pelanggaran hak cipta oleh pencipta atau seniman karya seni adalah dengan mendaftarkan hak cipta karya seni Anda sebelum menerbitkannya di Non-Fungible Tokens (NFT).
Melalui analisis literatur yang relevan, penelitian ini mengidentifikasi tantangan hukum yang dihadapi dalam mengakui keaslian NFT dan menganalisis mekanisme perlindungan hukum yang dapat diterapkan. Hasil penelitian menunjukkan bahwa regulasi terkait keaslian dan hak kekayaan intelektual dapat menjadi dasar hukum yang relevan untuk perlindungan kepemilikan NFT. Undang-undang dan peraturan hak cipta tentang hak merek dagang, serta peraturan tentang perlindungan konsumen, privasi data, dan keamanan digital, memiliki peran penting dalam upaya melindungi hukum terhadap NFT. Selain itu, penggunaan smart contract dalam teknologi blockchain juga merupakan mekanisme perlindungan hukum yang efektif. Kontrak cerdas memungkinkan pemilik NFT untuk mengelola transfer kepemilikan, lisensi penggunaan, dan hak lain yang terkait dengan NFT. Penelitian ini bertujuan untuk menganalisis upaya perlindungan hukum atas kepemilikan NFT (Non-Fungible Token) sebagai hak kekayaan intelektual. Metode penelitian yang digunakan adalah metode kualitatif dengan pendekatan studi literatur. Penelitian ini juga mengidentifikasi pentingnya mekanisme sengketa dan penegakan hukum dalam melindungi kepemilikan NFT sebagai hak kekayaan intelektual. Peraturan yang berkaitan dengan sengketa hak kekayaan intelektual, seperti undang-undang hak cipta, memberikan dasar hukum yang sesuai untuk menyelesaikan sengketa yang melibatkan kepemilikan NFT. Secara keseluruhan, penelitian ini menyimpulkan bahwa perlindungan hukum atas kepemilikan NFT sebagai hak kekayaan intelektual dapat dicapai melalui kombinasi peraturan yang relevan, penggunaan kontrak cerdas, dan mekanisme sengketa yang efektif. Pendekatan kualitatif dengan menggunakan metode literature review memberikan pemahaman yang mendalam dan komprehensif tentang upaya perlindungan hukum terhadap NFT. Penelitian ini memberikan panduan dan pemahaman yang bermanfaat bagi pemilik NFT, pakar hukum, dan pihak terkait dalam menghadapi tantangan hukum terkait kepemilikan NFT.
Skripsi ini membahas mengenai analisis yuridis transaksi Non-Fungible Token (NFT) ditinjau dari Undang-Undang Hak Cipta. Transaksi Non-Fungible Token (NFT) telah menjadi fenomena yang semakin populer dalam beberapa tahun terakhir, terutama dalam konteks seni digital dan koleksi digital. NFT adalah bentuk aset digital yang memanfaatkan teknologi blockchain untuk memberikan keunikan dan kepemilikan digital yang dapat diverifikasi. Transaksi yang dilakukan dalam jual beli karya di NFT oleh pembuat karya dan pembeli ini menimbulkan akibat hukum karena Ketika bertransaksi dalam NFT akan terjadi pembagian hak, yaitu hak cipta dan hak milik. Dalam skripsi ini terdapat rumusan masalah yakni: 1) Bagaimana Pengaturan Hukum Transaksi Non-Fungible Token Ditinjau dari Undang-Undang Hak Cipta? 2)Bagaimana Implementasi terhadap transaksi Non-Fungible Token (NFT) dalam Hak Kekayaan Intelektual? Guna menjawab rumusan masalah diatas, data yang dibutuhkan dalam skripsi ini data sekunder berupa beberapa peraturan, buku, artikel, serta beberapa literatur lainnya yang didapatkan melalui studi kepustakaan dan studi dokumen terkait dengan data dan informasi yang selanjutnya akan dianalisis dengan kajian yuridis normatif. Kemudian hasil dari sumber-sumber tersebut dideskripsikan dengan secara deskriptif analitis dengan bahasa yang baku, mudah dipahami, dan mudah dimengerti. Penelitian ini bertujuan untuk menganalisis aspek yuridis dari transaksi NFT, dengan fokus pada undang-undang hak cipta. Melalui pendekatan yuridis, penelitian ini akan mengeksplorasi apakah transaksi NFT melanggar atau melibatkan pelanggaran terhadap hak cipta pemegang hak asli. Hasil dari penelitian ini menunjukkan bahwa implementasi pengaturan hukum terhadap Transaksi Non-Fungible Token (NFT) dalam Hak Kekayaan Intelektual suatu bentuk perlindungan hukum terhadap suatu karya, untuk melindungi kepemilikan terhadap suatu karya dalam platform NFT. Perlindungan suatu karya seni tersebut yang terdiri atas hak moral dan hak ekonomi. Sesuai dengan Pasal 80 ayat (1) Undang-Undang Nomor 28 Tahun 2014 tentang Hak Cipta pengaturan transaksi Non-Fungible Token (NFT) dalam Undang-Undang Hak Cipta belum cukup untuk mengatur secara khusus dan komprehensif. Sebagaimana kesimpulan diatas, maka disarankan perubahan terhadap isi pasal 80 ayat (1) sehingga meminimalisir terjadinya pelanggaran hak cipta. โKecuali diperjanjikan lain, pemegang Hak Cipta atau pemilik Hak Terkait berhak memberikan Lisensi kepada pihak lain berdasarkan perjanjian tertulis dan elektronik untuk me.laksanakan perbuatan sebagaimana dimaksud dalam Pasal 9 ayat (1), Pasal 23 ayat (21, Pasal 24 ayat (2), dan Pasal 25 ayat (2)โ.
Untung Widyatmoko, Romli Atmasasmita, Anthon F. Susanto, Bambang Heru Purwanto
This paper aims to provide literacy or knowledge in law enforcement efforts that can be carried out against crimes by misusing cryptocurrencies as a means of transaction. This article uses a type of normative legal research using a legal perspective to produce a concept in solving problems that occur, supported by a legal approach and a case approach. The data used is sourced from secondary data with primary legal materials that are binding and fundamental. The approach method used in this study is the archival juridical approach method, which is legal research that prioritizes how to examine primary and secondary data, in the form of interviews with various sources and positive legal studies and how to implement them in practice in the field. The results of this study show that law enforcement against the misuse of cryptocurrencies requires government support in the form of clear regulations and firm legal policies on the use of cryptocurrencies. So that the law enforcement process fulfils a sense of justice for the community and the achievement of legal certainty.
The emergence of the Non-Fungible Token (NFT) was driven by the transformation of the digital world. NFT is now an investment option for the majority of investors. NFT is a digital asset that defines original artworks, such as a painting, drawing, piece of music, or in-game item, and is maintained in a blockchain-based ledger where the purchasing and selling process is conducted using cryptocurrency. As a form of copyright protection, the presence of NFT as a digital asset is fraught with complications. Digitizing an artwork that is subsequently converted to NFT infringes the original creator's copyright since someone may produce a digital version of another's work without their consent. The existing laws and regulations are yet to govern the ownership of NFTs that infringe the copyrights of others; thus, a solution is required, one of which is by the use of smart contracts. This is normative-juridical research, namely study undertaken by reviewing library resources or secondary sources. This study came into the conclusion that with the present state of technology, smart contracts cannot identify Copyright mistakes that are translated to NFT. Through human intervention, the blockchain network requires the addition of new applications.Keywords: Non-Fungible Token, Copyright, Smart Contract
Christina Christina, Florianus Yudhi Priyo Amboro, Rufinus Hotmaulana Hutauruk
Non-Fungible Tokens (NFTs) serve as a digital platform that aids creators of digital works, particularly E-Books, in marketing or introducing their creative outputs. This platform offers easy access and high-security systems to safeguard the copyright of E-Book creators. This study aims to analyze and provide insights into the copyright protection of E-Book works in the form of NFTs, under the perspective of Copyright Law. Additionally, the study seeks to determine whether NFT transactions can serve as a solution for Intellectual Property protection in Indonesia. The research employs a normative legal research method, utilizing literature review and descriptive techniques. The findings reveal that NFTs can indeed offer a solution for intellectual property protection in Indonesia. By transforming works into NFTs, their copyright is protected through ownership tokens that are automatically integrated into the blockchain (digital ledger).
Denis Triyuwono, Bezaliel Kevin Yonathan, Theresia Anita Christiani
Bitcoin is ctyptocurrency assets traded on the physical market of cryptocurrency assets on commodity future exchanges. The purpose of this research is to determine and explore the legal status and regulations regarding taxation of bitcoin conducted on commodity future exchanges. This research is conducted of secondary using a normative juridical method, which involves the use and collection of secondary data and focuses on legal regulations. The result of the research indicate that the legal status of bitcoin taxation on commodity future exchanges has been regulated by applicable laws and is recognized based on legal theories and princples.
This article aims to analyze the use of cryptocurrency as a substitute for conventional currency in Indonesia. The article is written using normative legal research methods with conceptual and legislative approaches. The results of this research indicate that cryptocurrency can be considered as a solution for a different level of payment system; however, the demand for this type of cryptocurrency is not proportionate to its supply. As a result, cryptocurrency is unlikely to become an everyday payment tool but may serve as a more specific means of payment or exchange at a certain level. Currently, cryptocurrency can only function as an investment tool that is bought and sold, making it challenging when directly compared to traditional currency for daily payment purposes. The opportunity for cryptocurrency to replace conventional currency in Indonesia is very small. This is due to the unstable (highly fluctuating) value of cryptocurrency and the absence of an authority determining its value.
This article looks at the protection of works produced by artificial intelligence, interpreted as objects of copyright in Indonesia.This article uses doctrinal research methods.This article answers legal issues regarding trading copyrighted works resulting from Artificial Intelligence in the form of Non-Fungible Tokens.The conceptual approach uses interpretation theory to examine statutory regulations to see the ideal form of recognition of intellectual property rights.The results of this research show that the existence of variations in AI as an object of intellectual property rights and the protection of works produced by AI in the form of Non-Fungible Tokens is protected preventively in the form of a license.Its repression is qualified as an infringement, and trade in works produced by artificial intelligence in Indonesia does not provide certainty because it only regulates in general, not specifically.The research concludes that the Indonesian government needs to review laws related to artificial intelligence and create regulations implementing the trading mechanism for digital copyrighted works in the form of NFTs and resolving disputes.
Baihaqsani, Ari Kusyanti, Primantara Hari Trisnawan
Perkembangan sistem klaim pada asuransi di Indonesia umumnya masih menerapkan pengajuan klaim dengan menggunakan sistem secara manual dengan metode cashless dan reimbursement. Penerapan sistem klaim pada asuransi tersebut memiliki proses administrasi yang cukup panjang sehingga dapat memakan waktu yang lama dan penerapan sistem tersebut tidak dapat memberikan proses tranparansi transaksi pada klaim asuransi. Dengan permasalahan tersebut dapat menimbulkan permasalahan terkait dengan keamanan informasi berupa integritas data, kerahasiaan data, dan transparansi data pada klaim asuransi. Penelitian ini mengusulkan pengembangan sistem klaim pada asuransi yang dapat dilakukan secara online dengan menerapkan teknologi blockchain. Teknologi blockchain menggunakan sistem penyimpanan data dengan menerapkan sistem desentralisasi aplikasi yang berfungsi untuk memberikan kendali penuh terhadap pengguna atas data mereka dengan tidak adanya perantara terpusat. Dengan menerapkan desentralisasi aplikasi tersebut dapat diwujudkan integritas, kerahasiaan dan transparansi transaksi pada klaim asuransi. Penelitian ini mengajukan usulan implementasi teknologi blockchain dengan sistem smart contract pada proses klaim asuransi untuk dijadikan solusi terhadap masalah yang terdapat pada proses klaim asuransi. Abstract The development of the insurance claim system in Indonesia generally still applies the submission of claims using a manual system with cashless and reimbursement methods. The application of the insurance claim system has a fairly long administrative process that can take a long time and the application of the system cannot provide a transparent transaction process for insurance claims. With these problems can cause problems related to information security in the form of data integrity, data confidentiality, and data transparency on insurance claims. This research proposes the development of an insurance claim system that can be done online by applying blockchain technology. Blockchain technology uses a data storage system by implementing a decentralized application system that functions to give users full control over their data in the absence of a centralized intermediary. By implementing a decentralized application, integrity, confidentiality and transaction transparency in insurance claims can be realized. This study proposes the implementation of blockchain technology with a smart contract system in the insurance claim process to be used as a solution to problems in the insurance claim process
This research delves into the potential of a gold-backed cryptocurrency as a strategic instrument for international net settlement, leveraging blockchain technology, and assesses its global economic implications. Through a comprehensive evaluation of the efficiencies derived from integrating a gold-backed cryptocurrency, this study critically examines the prevailing use of fiat currency in international net settlement, laying the groundwork for fortified financial resilience within Malaysia's Islamic finance framework. To fulfil the study's overarching objective, a qualitative research methodology was meticulously applied, encompassing content analysis alongside insightful semi-structured interviews. The argument put forth underscores that a cryptocurrency backed by gold represents a superior alternative to fiat currencies in facilitating international net settlement through the robust medium of blockchain technology, ushering in an era characterized by compatibility and enhanced efficiency. Furthermore, this article posits that the revolutionary potential of blockchain will permeate Malaysia's Islamic financial system, aligning with Islamic finance principles and accelerating international net settlement. This integration is poised to usher in an unprecedented era of growth, efficiency, and innovation while adhering to Islamic financial ethics.
Ghassan Adhab Atiyah, Nazura Abdul Manap, Saidatul Nadia Abd Aziz
Abstract: Using smart contracts as a new technology for online contracting has become the best option today when working in non-trustworthy environments to execute automated irreversible agreements. However, such contracts have issues relating to the language used for expressing the obligations of the involved parties. Additionally, smart contracts have no legal recognition of blockchain as a means of record-keeping for smart contract transactions. Parties engaged in smart contracts face difficulties in terms of incompatibilities with current legal frameworks. The objective of this article is to evaluate the legality of smart contract language and the validity of blockchain as an electronic medium from the perspectives of current laws. This article adopts a qualitative doctrinal legal research approach. The findings indicate that there is a need to enact laws that recognise the language used for smart contracts and the transactions recorded on the blockchain.
In the midst of increasingly massive digitalization and modernization, the use of technology and information in producing masterpieces has brought new problems, one of which is related to digital-based copyright protection. In the background of this, this research then produces 2 (two) problem formulations that need to be researched, namely: how is the protection of copyright of Non-Fungible Token (NFT) based paintings in Indonesia? And what are the obstacles in the protection of copyright of Non-Fungible Token (NFT) based paintings in Indonesia?. This research is empirical research, with a sociological approach research method. The results showed that, Non-Fungible Token (NFT) as a digital work of art, civilly categorized as "rights" according to article 499 of the Civil Code, by Law Number 28 of 2014 concerning Copyright, is still recognized as one of the protected objects. More than that, the obstacles found by researchers related to copyright protection of digital-based paintings, based on the results of interviews at the Ministry of Law and Human Rights of the Special Region of Yogyakarta and the Special Criminal Investigation Directorate of the Yogyakarta Police, among others: Regulatory Factors, Law Enforcement Factors, Supporting Facilities and Facilities, Individual, Environmental and Community Factors.
 Keywords: Non-Fungible Token, copyright protection, technology
Imam Taufikurahman, Ari Rahmad Hakim B.F, Diman Ade Mulada
Tujuan dari penelitian ini yaitu untuk mengetahui tanggung jawab pelaku usaha terhadap konsumen pemilik aset crypto. Jenis penelitian yang digunakan dalam penelitian ini yaitu penelitian hukum normatif dengan menggunakan metode pendekatan perundang-undangan. Berdasarkan hasil penelitian, dapat disimpulkan bahwa pihak pihak dalam transaksi aset crypto yaitu Bursa Berjangka dan Anggota Bursa Berjangka. Untuk Anggota Bursa Berjangka sendiri terdiri dari Pedagang Fisik Aset Kripto, Pelanggan Aset Kripto, Lembaga Kliring Berjangka, serta Lembaga Tempat Penyimpanan Aset Kripto. Pedagang disini berperan sebagai pihak yang memfasilitasi transaksi aset kripto antara nasabah satu dengan nasabah lainnya dan hubungan hukum yang timbul dari para pihak dalam jual beli aset crypto tersebut adalah hubungan antara penjual (buyer) dengan pembeli (seller) yang melakukan sejumlah transaksi aset crypto, serta tanggung jawab pelaku usaha cryptocurrency terhadap konsumen pemilik aset crypto berdasarkan kontrak yang dibuat oleh para pihak dalam aktivitas cryptocurrency
The development of investment is currently very popular so many people are interested in investing to meet their needs, but not many people know about legal and illegal investments, so there are many cases of fraud using investment methods. Usually illegal investments will offer profits and bonuses in recruiting new members. This research aims to determine accountability and sanctions in preventing and taking action against perpetrators of fraudulent investments. The methods used in this research are as follows: statutory approach, case approach, normative juridical research types of primary and secondary legal materials. Data analysis techniques using library legal research. The results of this research show that in the investment business legal entities cannot be held physically responsible but rather the individuals involved in it can be held responsible in accordance with applicable laws. perpetrators of illegal or fraudulent investments in their implementation using new member bonuses violate the rules of criminal law, namely article 105 of Law no. 7 of 2014 concerning Trade.
Deny Akbar Santoso, Ermanto Fahamsyah, Firman Floranta Adonara
Kemajuan revolusi 4.0 mendasari terciptanya cryptocurrency, secara universal awalnya cryptocurrency memanglah dimaknai hanya sebagai mata uang belaka, namun dikala ini telah mengalami perluasan sudut pandang maupun fungsinya. Perihal itu dibuktikan dengan telah digunakannya cryptocurrency sebagai suatu jaminan; berlandaskan perihal itu maka dapat dikonsipsikan bahwasanya cryptocurrency dapat dipergunakan sebagai objek jaminan fidusia. Selaras perihal itu, maka diperlukannya kajian mendalam terkait penggunaan cryptocurrency sebagai objek jaminan fidusia; pokok permasalahannya yaitu keistimewaan serta kepastian hukum penggunaan cryptocurrency sebagai objek jaminan fidusia. Tujuan dari penelitian ini ialah memperoleh korelasi antara cryptocurrency dengan jaminan fidusia. Teknik peradilan normatif, undang-undang, dan konseptual digunakan dalam metodologi penelitian ini. Hasil penelitian ini yakni crytocurrency yang dipergunakan sebagai jaminan fidusia tidak melanggar norma hukum yang sudah ada dan berlaku, alhasil dapat dikatakan sah karena selaras dengan teori dari Roscoe Pound yang menyatakan bahwasanya di mana hukum selaku alat pembaharuan masyarakat. Cryptocurrency mempunyai keisitimewaan sebagai komoditi yang mempunyai hak atau kepentingan, berbentuk digital aset dan dapat dimiliki oleh perseorangan maupun badan hukum; serta dapat diklasifikasikan kedalam hukum kebendaan yang bersifat memberikan jaminan sepanjang dapat dibuktikannya hak kepemilikannya, sehingga dapat digunakan sebagai terobosan atau perkembangan dalam hukum jaminan, khususnya sebagai objek jaminan fidusia. Cryptocurrency yang digunakan sebagai jaminan fidusia akan berlaku asas droit de suit (Pasal 1 angka 1 UU.4/1999); penjaminan atas cryptocurrency berlaku asas publisitas (Pasal 11 UU.4/1999 jo. PP.21/2015). Senyampang perihal itu, cryptocurrency hanya dapat dipergunakan sebagai jaminan tambahan bukan sebagai jaminan pokok, karena sifat cryptocurrency memliki harga yang sangat flutuatif.
This article analyzes the Non-Fungible Token, abbreviated NFT, which is a digital certificate that can be used to verify who owns certain assets in the world of crypto art, where this certificate represents ownership of authentic works of art. Non-Fungible Token (NFT) as a digital asset as well as several legal issues that arise related to NFTs, especially in the field of intellectual property law including copyright protection and legal construction of copyright ownership of NFTs. This study uses a normative legal research method with a statutory approach. This study aims to find out how the legal problems in the practice of intellectual property development commercialization of non-fungible tokens (NFT) and how to protect works of art in the form of Indonesian non-fungible tokens (NFT). The results of this study indicate that although in Indonesia there are no specific regulations that explicitly regulate Non-Fungible Tokens (NFT), the rights of creators of works are generally protected by Law Number 28 of 2014 concerning Copyright, but from an intellectual point of view property development, NFT presents the potential for the development and commercialization of works through digital media that has a wide reach and provides more optimal monetization opportunities.
In recent years, there has been a shift in giving dowries from dowries in the form of money, gold and other goods whose physical form is shifted to digital dowries such as cryptocurrency dowries, a digital currency using blockchain technology. The research focus and objectives of this research are to find out 1) What is the phenomenon of using cryptocurrency as a wedding dowry in Indonesian society. This type of research is normative legal research. The approach in this research uses the Statute Approach and the Case Approach and the Statute Approach. The technique for collecting legal materials is carried out using documentation methods. The results of this research show that the phenomenon of using cryptocurrency as a dowry among Indonesian people, especially Indonesian Muslims, has varied views and not a single perspective.
The increasingly massive use of the internet is now affecting the economic world which is characterized by the birth of E-Commerce. E-Commerce mechanism that does not brings together sellers and buyers directly, this raises a variety of problems on the subjective and objective terms of the sale and purchase agreement. Smart Contracts are actually different from conventional contracts written on paper. They are also different from electronic contracts. A clause in the agreement, which takes the form of programming code, requires blockchain as a distributed storage technology, which sets them apart. In addition, Smart Contracts serve to execute contracts automatically. Therefore, the article aims to analyze the advantages of Smart Contracts compared to conventional contracts and how the validity of using smart contracts in Indonesian law, and why business transactions in Indonesia should start using smart contracts. The result obtained is that the use of Smart Contracts are completely automated and rely on software logic, making them transparent and visible to all parties involved. The use of Smart Contract in buying and selling transactions is considered very important considering the advantages in terms of security, verification, changes in the contents of the agreement, and evidentiary power. As for Indonesian law, the use of Smart Contracts is permissible as long as it does not violate the validity of the agreement as stated in the Civil Code. The use of Smart Contracts offer several advantages over traditional contracts, including trasparency, autonomy, speed, accuracy, security, and savings.
There has been a huge growth in the value of bitcoin in Indonesia, especially during late 2017. Many people are interested and aware of this phenomenon related to Bitcoin that operates only as a digital system and has no physical existence. This research will further discuss Bitcoin as an investment agreement object. This research uses a normative legal research method with a conceptual approach that refers to the law. This research aims to determine and analyze the comparison of the validity of investment agreements that use Bitcoin as an investment object in several countries. In addition, to find out and analyze the legal protection of the parties who make Bitcoin buying and selling transactions using the Indodax website facility under Indonesian law. The results of this research indicate that there are differences of legal basis to regulate Bitcoin transaction agreements between El Salvador and Indonesia. In El Salvador, the Bitcoin Law is set as the legal basis for regulating Bitcoin transaction agreements. Whereas in Indonesia, the legal basis for regulating Bitcoin transaction agreements is the Commodity Futures Trading Supervisory Agency Regulation No. 5/2019 concerning Technical Provisions for the Implementation of the Crypto Asset Physical Market on the Futures Exchange.