Smart contract and the standard of self-sufficient agreement

lucian.bercea[at]e-uvt.ro

Authors

  • Lucian Bercea Universitatea de Vest din Timişoara Facultatea de Drept Centrul pentru Dreptul Afacerilor Timişoara

Keywords:

contract, smart contract, self-execution, self-protection, self-sufficiency

Abstract

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.

Author Biography

Lucian Bercea, Universitatea de Vest din Timişoara Facultatea de Drept Centrul pentru Dreptul Afacerilor Timişoara

lucian.bercea[at]e-uvt.ro

Universitatea de Vest din Timişoara
Facultatea de Drept
Centrul pentru Dreptul Afacerilor Timişoara

Published

2022-08-30 — Updated on 2023-04-24

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