Chapter 2 investigates the legal dimensions of smart contracts. It analyzes the current legal framework, describes some relevant practical issues, identifies the main legal questions raised by the subject, and offers some conclusive remarks. In particular, Chapter 2 aims at exploring whether this potentially breakthrough technology (i.e., the blockchain) implies a legal revolution: Do smart contracts require new legal avenues to be developed, or is it instead appropriate to adapt the existing legal categories to the new reality? In either case, how are and should they be regulated?
Definitions of Smart Contracts. Between Law and Code
R. DE CARIA
2019-01-01
Abstract
Chapter 2 investigates the legal dimensions of smart contracts. It analyzes the current legal framework, describes some relevant practical issues, identifies the main legal questions raised by the subject, and offers some conclusive remarks. In particular, Chapter 2 aims at exploring whether this potentially breakthrough technology (i.e., the blockchain) implies a legal revolution: Do smart contracts require new legal avenues to be developed, or is it instead appropriate to adapt the existing legal categories to the new reality? In either case, how are and should they be regulated?
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