The Technology of Blockchain and Smart Contract and Their Regulation Under the Conflict of Laws of the European Union

DOI

10.2991/aebmr.k.201205.094How to use a DOI?

Keywords

conflict of laws, smart contract, blockchain, European law, applicable law, private international law

Abstract

The author researches the issues of using smart contracts in the countries of the European Union, points out the problems arising in connection with different legal regulation in different states. The purpose of the study was an establishment of the features of conflict of law regulation of relations in the attitude to smart contracts in accordance with the rules in force in the countries of the European Union. Within the framework of this aim, the objective was determined to formulate general principles on the basis of which legislation in the countries of the European Union could develop in the proposed direction. The methodology of the article was composed of general scientific methods (analysis, synthesis, analogy, deduction, induction), as well as a complex of special legal methods of cognition (formal legal, dogmatic, legal modeling, comparative legal). As a scientific originality of the research, three legislative approaches to smart contracts are pointed out: the complete lack of norms about this aspect, “indirect” and “direct” regulation. The author proposed that special rules could be established for some of the most significant spheres of use of smart contracts at the supranational level in the European Union, for instance, for real estate transactions.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - A.A. Volos
PY  - 2020
DA  - 2020/12/07
TI  - The Technology of Blockchain and Smart Contract and Their Regulation Under the Conflict of Laws of the European Union
BT  - Proceedings of the 2nd International Scientific and Practical Conference on Digital Economy (ISCDE 2020)
PB  - Atlantis Press
SP  - 563
EP  - 568
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.201205.094
DO  - 10.2991/aebmr.k.201205.094
ID  - Volos2020
ER  -