scholarly journals Blockchains, Smart Contracts, Decentralised Autonomous Organisations and the Law

SCRIPT-ed ◽  
2020 ◽  
Vol 17 (2) ◽  
pp. 450-454
Author(s):  
Ondřej Svoboda
Keyword(s):  
2020 ◽  
Author(s):  
Gergana Varbanova ◽  

Are the technologies advanced enough to replace lawyers and the judiciary in the negotiation and enforcement process? Is it possible for a program code to be a contract that binds the parties named in it? What is a smart contract and what challenges does it pose to the law? The present study aims to clarify and show the advantages and disadvantages of using smart contracts in civil law.


2021 ◽  
Author(s):  
Benjamin Hayward ◽  
Lisa Spagnolo ◽  
Drossos Stamboulakis

2020 ◽  
Vol 40 (3) ◽  
pp. 645-665
Author(s):  
Mimi Zou

Abstract There has been burgeoning interest among legal scholars in recent years regarding the implications of blockchain technology for the law. Two thoughtful monographs that go beyond the hyped claims of enthusiasts and cynics are Primavera De Filippi and Aaron Wright’s Blockchain and the Law: The Rule of Code and Kevin Werbach’s Blockchain and the New Architecture of Trust. While the two books have different focal points, both contain a common Laurence-Lessig-inspired theme of ‘code as law’ in which decentralised blockchain networks are viewed as a regulatory ‘modality’ or ‘architecture’ with its own system of rules. However, as this article argues, blockchain is not outside the law or the existing legal system. Code necessarily interacts with other modes of regulation, namely the market, social norms and law, in constraining the operation of blockchain applications such as smart contracts. This argument also situates smart contracts in a relational analysis of real-world contracting practices.


2022 ◽  
pp. 112-131
Author(s):  
Andasmara Rizky Pranata ◽  
Pardis Moslemzadeh Tehrani

This chapter discuss the legality of smart contract in a decentralized autonomous organization (DAO). The regulation framework of blockchain is developing rapidly with many countries such as Malta and Estonia utilizing and allowing the use of blockchain. While many researchers have discussed the legality of smart contract, its relation to DAO as one of blockchain's applications is rarely discussed. There are three issues discussed in this chapter: the definition of DAO, the definition of smart contract, and the legality of smart contract in DAO. Each country has their own legal threshold of a contract's legality, but there are generally five elements in a legal contract, namely offer and acceptance, consideration, intention, certainty, and completeness. It is possible for the smart contract to fulfil the five legal elements of a contract. As there are different regulations in different countries, there may have been different elements to the law. In conclusion, the legality of smart contracts, like blockchain itself, depends on who uses it, where it is used, and how it is used.


2019 ◽  
Author(s):  
Daniel Kraus ◽  
Thierry Obrist ◽  
Olivier Hari
Keyword(s):  

2019 ◽  
pp. 275-288
Author(s):  
Florian Möslein

Blockchain technology promises to perform tasks that have traditionally been assigned to the law and the realm of legal institutions. Smart contracts create agreements that are both automatable by computers and enforceable via the tamper-proof execution of computer codes. Based on such smart contracts, some providers of blockchain technologies offer ‘to act as a digital jurisdiction’. The promise seems to be that law of the relevant jurisdiction is entirely substituted by the rules codified in the blockchain. However, even if it has often been argued that the ‘Code Is Law’, the law is not—and arguably never will be—entirely redundant. Therefore, the challenge is to identify the boundaries of such digital jurisdictions by clarifying the relationship between law and code and to develop new principles for conflicts of laws or rather principles for the conflict of laws and codes.


2019 ◽  
Vol 35 (1) ◽  
pp. 69-88 ◽  
Author(s):  
Helen Eenmaa-Dimitrieva ◽  
Maria José Schmidt-Kessen

Legal Concept ◽  
2021 ◽  
pp. 113-117
Author(s):  
Alexey Churilov ◽  

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.


Lex Russica ◽  
2019 ◽  
pp. 93-107 ◽  
Author(s):  
M. V. Mazhorina

The central institute of private international law — conflict of law — in the modern globalization and information context is evolving, which is largely due to the paradigm shifts in law, laid down and developed based on international commercial arbitration. The widely interpreted concept of «rules of law» actualizes a completely new view of conflicting arrays of rules: the law of the state and the system of non-state regulators. The medieval lex mercatoria, revived in the XX century, is modernized by cyberspace, acquires a new sound in the form of e-merchant or lex informatica, especially in the context of the parallel development of smart contracts and new decentralized forms of dispute resolution, one of which is blockchain arbitration. In particular, the issues of conflict of law, traditional for cross-border transactions, arise in relation to smart contracts, which, using blockchain technology, are inherently linked to several jurisdictions. It is important to reflect on the questions of applicability of traditional conflict-of-laws bindings to the regulation of relevant relations, including through forecasting the practice of choosing the law of a state, the substantive rules of which are adapted to the use of new technologies, or recourse to the rules of non-state regulation.


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