Smart Contracts Throught Lens of the New Institutional Economics

Иващенко, Н.П.; Shastitko, A.Y.; Shpakova, Anastasia

doi:10.17835/2076-6297.2019.11.3.064-083

Cited by 12 publications

(5 citation statements)

References 0 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…So, the legal nature of such contracts isn't quite clear, and there is still no understanding how the code as a contract fits into the traditional concepts of contract law. At the same time, the current legal regulation isn't able to solve all emerging legal problems; therefore, a significant change in the legislation will be required (Ivashchenko et al 2019). The question remains of identifying parties with pseudo-snaps that are typical for smart blockchain contracts.…”

Section: Resultsmentioning

confidence: 99%

“Smart Contracts” vs Legal Technology in Contract Practice

Kozlova

Aleksandrina

2020

"Smart Technologies" for Society, State and Economy

View full text Add to dashboard Cite

Purpose: The purpose of the article is determining the advantages and disadvantages of using both «smart contracts» and «classic» contracts in contractual practice, with the possibility of agreeing on the conditions and applying the full range of available legal technology tools.Design/Methodology/Approach: We use dialectic and comparative legal research methods.Findings: The article identifies the concept of smart contracts, their scope, advantages and disadvantages of use. We study the means of legal technology, which are used in the text of a traditional contract. The question of the basis for comparing smart contracts and contracts that exist in the form of text is investigated. The prospects for the using of smart contracts and traditional contracts are determined.Originality/Value: It has been established that the process of negotiating the terms of a traditional contract is carried out through negotiations and the search for the most appropriate formulations. The parties may agree on conditions that most closely reflect their interests and at the same time comply with applicable law.There are also used terms that serve to ensure a uniform understanding of the text of the contract. Such an approach, however, may lead to errors and the need for interpretation of the contract.Smart contracts aren't based on text, but on computer code, through which the terms of the contract are recorded. This deprives such an agreement of the shortcomings that are usually inherent in the text -errors in the formulation of certain conditions, different understanding of the terms used by the parties.However, smart contracts have a limited scope, and shouldn't be used in cases of regulation of atypical relations of parties requiring an individual approach.Smart contracts can successfully replace mass accession agreements existing in the form of typing and concluded via the Internet (for example, contracts for the sale of goods in online stores), due to their unconditional advantages -selffulfillment, the inability to make changes to an already concluded contract, the fundamental lack of interpretation of the treaty.

show abstract

Section: Resultsmentioning

confidence: 99%

“Smart Contracts” vs Legal Technology in Contract Practice

Kozlova

Aleksandrina

2020

"Smart Technologies" for Society, State and Economy

View full text Add to dashboard Cite

show abstract

“…A carsharing agreement is concluded through the use of a smart contract. A smart contract is a special form of concluding an agreement, which assumes the fullest possible account of the terms of the contract at the stage of its design and their formalization in the form of a program code without subsequent adjustment [12]. The contract is concluded remotely by registering the tenant in the corresponding application of the carsharing company.…”

Section: Discussionmentioning

confidence: 99%

Digitalization of transport services in modern Russia

et al. 2021

View full text Add to dashboard Cite

The purpose of the study is to establish the features of regulation of individual relations in the digital economy. The work uses a systematic approach, methods of comparison, description, interpretation; theoretical methods of formal and dialectical logic; private scientific method: comparative legal. The result of the study was the postulates that such qualifying features of a carsharing agreement as the subject structure and the purpose of the conclusion allow us to conclude that it is necessary to refer it to a rental agreement, a feature of which is the use of a smart contract. However, a smart contract is not only a form of contract, but also a way of fulfilling contractual obligations. Its use gives a carsharing agreement clear advantage over a conventional rental agreement. The program code excludes the possibility of changing its content and violating the contract. Aggregators can participate in transportation relationships in different ways. In cases where the aggregator organizes transportation, forms the terms of the contract of carriage, it must be jointly and severally liable together with the carrier to the passenger. If the aggregator provides only an information service, then he must answer to the customer only for its quality. The novelty of the study lies in the proof that despite the fact that digital technologies are shaping new business strategies and changing the nature of legal relations, these relations are still not properly regulated by domestic legislation.

show abstract

“…The practice of concluding smart contracts as self-executing contracts is not institutionally neutral and should be based on significant changes in the legal provision of contractual relations, as noted, in particular, by N. P. Ivashchenko, A. E. Shastitko, A. A. Shpakova (Ivashchenko, Shastitko, and Shpakova 2019), A.V. Dudchenko et al (Dudchenko, Kolkareva, and Pseush 2019).…”

Section: Complimentary Copymentioning

confidence: 99%

Global Challenges of Digital Transformation of Markets Volume II

2022

View full text Add to dashboard Cite

The Publisher has taken reasonable care in the preparation of this book, but makes no expressed or implied warranty of any kind and assumes no responsibility for any errors or omissions. No liability is assumed for incidental or consequential damages in connection with or arising out of information contained in this book. The Publisher shall not be liable for any special, consequential, or exemplary damages resulting, in whole or in part, from the readers' use of, or reliance upon, this material. Any parts of this book based on government reports are so indicated and copyright is claimed for those parts to the extent applicable to compilations of such works.

show abstract

Smart Contracts Throught Lens of the New Institutional Economics

Cited by 12 publications

References 0 publications

“Smart Contracts” vs Legal Technology in Contract Practice

“Smart Contracts” vs Legal Technology in Contract Practice

Digitalization of transport services in modern Russia

Global Challenges of Digital Transformation of Markets Volume II

Contact Info

Product

Resources

About