Smart Contracts and Comparative Law
A Western Perspective
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Beschreibung
The book analyzes the most relevant developments in the relation between contracts and technology, from automatically concluded contracts to today's revolutionary "smart contracts" developed through blockchain, which are beginning to and will increasingly disrupt many economic and social relations.
First of all, the author offers a broad analysis of the peculiarities and evolution of the relation between contracts and technology. The main features and elements of electronic contracts are then examined in depth to highlight the specific rules applicable to them in the international comparative legal framework.
In turn, the book provides a detailed explanation of the technology, economic and social dynamics, and legal issues concerning blockchain and smart contracts. The analysis focuses on the question of the legal nature of smart contracts, the issues posed by their development and the first legal solutions adopted in some countries. The comparative approach pursuedmakes it possible to focus attention on the first solutions adopted until now in various systems, with particular regard to the circulation of models and ideas and to the specificities of their local variations, in terms of e.g. applicable law and jurisdiction.
In reviewing the characteristics of distributed ledger technologies, and in particular of the blockchain technology on which smart contracts are based, above all the peculiarities of the latter are taken into consideration, especially automatic execution and resistance to tampering, which simultaneously present significant opportunities and complex legal issues.
A comprehensive framework is then provided to reconcile smart contracts with comparative contract law, in order to define the scope and specificities of their binding force, legal effectiveness and regulation in various legal systems.
Lastly, with specific reference to the elements, pathologies and contractual remedies for smart contracts, the book examines the peculiarities of their application and the main issues that emerge in comparative contract law in order to promote their harmonized use, in keeping with the transnational nature of such a revolutionary tool.
The book analyzes the most relevant developments in the relation between contracts and technology, from automatically concluded contracts to today's revolutionary "smart contracts" developed through blockchain, which are beginning to and will increasingly disrupt many economic and social relations.
First of all, the author offers a broad analysis of the peculiarities and evolution of the relation between contracts and technology. The main features and elements of electronic contracts are then examined in depth to highlight the specific rules applicable to them in the international comparative legal framework.
In turn, the book provides a detailed explanation of the technology, economic and social dynamics, and legal issues concerning blockchain and smart contracts. The analysis focuses on the question of the legal nature of smart contracts, the issues posed by their development and the first legal solutions adopted in some countries. The comparative approach pursuedmakes it possible to focus attention on the first solutions adopted until now in various systems, with particular regard to the circulation of models and ideas and to the specificities of their local variations, in terms of e.g. applicable law and jurisdiction.
In reviewing the characteristics of distributed ledger technologies, and in particular of the blockchain technology on which smart contracts are based, above all the peculiarities of the latter are taken into consideration, especially automatic execution and resistance to tampering, which simultaneously present significant opportunities and complex legal issues.
A comprehensive framework is then provided to reconcile smart contracts with comparative contract law, in order to define the scope and specificities of their binding force, legal effectiveness and regulation in various legal systems.
Lastly, with specific reference to the elements, pathologies and contractual remedies for smart contracts, the book examines the peculiarities of their application and the main issues that emerge in comparative contract law in order to promote their harmonized use, in keeping with the transnational nature of such a revolutionary tool.
Provides in-depth descriptions of the technology, functioning and economy of smart contracts Outlines the comparative legal framework under which they can be developed and enforced Deals with the technological, economic & social characteristics of smart contracts & accompanying legal issues
Autor*in
Andrea Stazi
Themen in »Smart Contracts and Comparative Law«
Smart contracts Blockchain Law and economics Comparative law Contract enforcement Contract and technology Ledger technologies