Smart contract and the standard of self-sufficient agreement
lucian.bercea[at]e-uvt.ro
Keywords:
contract, smart contract, self-execution, self-protection, self-sufficiencyAbstract
The present text aims to explain why “smart contract” cannot be translated as “intelligent agreement”: a smart contract is not a contract, but a computer code, i.e. a software; a smart contract is not a substitute for the contract, but a technical support mechanism of the transaction, complementary to the contract. Subsequently, the text analyzes the consequences and limits of contract automation through smart contracts: the transposition of the contract into computer code, the self execution of the contract and its self protection, which tend to bring it closer to the standard of self sufficient agreement.
Published
2022-08-30 — Updated on 2023-04-24
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- 2023-04-24 (2)
- 2022-08-30 (1)
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