Smart contract as a civil law way of disposing of digital rights: problems of theoretical substantiation and practical application-Reference-Cited by-同舟云学术

Smart contract as a civil law way of disposing of digital rights: problems of theoretical substantiation and practical application

Published:2022-10-07 Issue:3 Volume:2022 Page:60-65
ISSN:2078-5356
Container-title:Legal Science and Practice: Journal of Nizhny Novgorod Academy of the Ministry of Internal Affairs of Russia
language:en
Short-container-title:

Author:

Krokhina Yulia¹²,Svechnikov Vladimir³

Affiliation:

1. Moscow State University

2. Plekhanov Russian University of Economics

3. Russian University of Economics named G. V. Plekhanov

Abstract

Complex socio-economic processes are simultaneously taking place in Russian society: the economy is adapting to external economic challenges and, due to the COVID-19 epidemic, many aspects of social life are being transferred online. As a result, there is a transformation of all types of entrepreneurial activity, oriented both to the end consumer and to another legal entity (B2B transactions). The digitalization of commerce objectively requires an effective legal response to the procedures for concluding and executing contracts. A feature of the Russian legal system for regulating digital assets can be considered the impossibility of concluding direct transactions, bypassing a specialized information platform. The article discusses the features of smart contracts as a civil law way of disposing of digital rights. The activity of an information platform operator or a market maker as an intermediary is analyzed. Their positive and negative impact on the digital asset market is shown. The conclusion is substantiated that the disposal of digital rights through the use of a smart contract cannot be identified with all other classical contractual structures. Smart contracts, including those that are made using blockchain and Ethereum technology, are legally different from the electronic form of a civil law contract. Despite the obvious advantages of a smart contract as a way to manage digital assets, in the absence of legal regulation, significant business risks arise that require a prompt and effective legislative solution

Publisher

Nizhny Novgorod Academy of the Ministry of the Interior of Russia

Subject

General Medicine

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