Integrating smart contracts into the traditional contract system, fact or just an assumption?

Authors

  • chiter mohamed bouzidi Mohamed Lamine Debaghine Setif 2 University - Algeria Author

Keywords:

Nodal credit, smart contracts, trusted broker, traditional contract

Abstract

Unlike a traditional contract whose implementation is subject to a legal framework, the implementation of a smart contract does not require the intervention of any trusted third party. Raising the level of contractual security and consolidating the principle of self-implementation of COD.
The importance of the research is highlighted by the challenge posed by this type of contract and the extent to which different legal systems can be harmonized with it, especially after it was embraced by some comparative legal systems such as the legal system of the United States of America and France. The situation here called for the adoption of a new form of legislation after forms of traditional transactions entered the world of digitization.
It also emerges from this contribution that the main advantages of “smart contracts” lie in the line of tension with many of the core institutions of private law, and its popularity forces legal practitioners, notaries, and corporate attorneys to use this technology to change their practices.

Published

2022-06-10