Blockchain Technology and Smart Contracts - Public Policy Needed in the Technology Race
Blockchain Technology and Smart Contracts - Public Policy Needed in the Technology Race

Author(s): Camelia Daciana Stoian, Dominic Bucerzan, Crina Anina Bejan
Subject(s): Public Administration, Social Informatics, ICT Information and Communications Technologies, Socio-Economic Research, Sociology of Law
Published by: ADJURIS – International Academic Publisher
Keywords: cryptoeconomy; encrypted contract; blockchain; smart contracts; technological change and growth;
Summary/Abstract: To write about a branch of law entitled "new technologies" places us in a challenging but topical realm because we can only identify in a fragmentary way the meaning of a set of legal rules that have been promulgated by the legislature, and even less the positive law that is actually applicable at national level or even in most EU countries. However, it is not only with this thought that we proceed in the conception of the present material, but also with the idea that has become dominant as a business concern, an idea that highlights the prerogative of any person to "try his luck" by concluding a coded agreement , using a laptop and at the same time at least one other subject of law willing in consensus to use blockchain technology. We can also visualize the public official automatically enrolled in the digitization process, acting as a "business partner" of the public administration and performing in the context of the current legal area mismatch service duties using blockchain technology in energy market procurement. To conclude a so-called "smart contract" by means of blockchain technology certainly implies an agreement of wills and the typed intention of the parties concerned in a legal framework not regulated by general legal rules or specific and applicable particular provisions. We thus aim to quantify and even outline a legitimate content with finality, which aims at what as early as 2018 at the level of the Committee on International Trade was highlighted and expressed in the Report4 indicating blockchain technology as a policy and business practice of the future that seems to have already caught up with us. This paper proposes a statistical study that reflects the integration of the concepts of blockchain technology and smart contracts into the knowledge of legal-administrative practice in Romania.

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