Smart Contracts: Terminology and Legal Nature
Smart Contracts: Terminology and Legal Nature

Summary/Abstract: Blockchain technology and smart contracts are regarded by some authors as the greatest innovations since the advent of the Internet, while other authors are skeptical about them, arguing that they can only be considered a "technological bubble" that will burst in a short period of time. Despite the opposite views on these innovations, the legal literature has given them considerable attention. Due to the early stage of development and the lack of widespread adoption, there are numerous questions regarding this new way of contracting. This article aims to answer some of these questions such as what are smart contracts and what is their connection with the blockchain technology.

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