Smart Contract Relations in e-Commerce: Legal Implications of Exchanges Conducted on the Blockchain

Ryan, PA

Smart Contract Relations in e-Commerce: Legal Implications of Exchanges Conducted on the Blockchain

Ryan, PA

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Publisher:: Carleton University
Publication Type:: Journal Article
Citation:: Technology Innovation Management Review, 2017, 7 (10), pp. 10 - 17
Issue Date:: 2017-10-27

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Field	Value	Language
dc.contributor.author	Ryan, PA https://orcid.org/0000-0002-8379-0129	en_US
dc.date.issued	2017-10-27	en_US
dc.identifier.citation	Technology Innovation Management Review, 2017, 7 (10), pp. 10 - 17	en_US
dc.identifier.issn	1927-0321	en_US
dc.identifier.uri	http://hdl.handle.net/10453/127958
dc.description.abstract	Much of the discussion around blockchain-based smart contracts has focused on whether or not they operate in the same way as legal contracts. However, it is argued that most contracts are social rather than legal in nature and are entered into because the parties trust each other to perform the agreed exchange. Little has been written to address how the blockchain’s trust protocol can enable the kind of social contracting that characterized the way exchanges were conducted before the Internet. This article aims to fill that gap by exploring blockchain-based smart contracts primarily as noncontractual social exchanges.	en_US
dc.publisher	Carleton University	en_US
dc.relation.ispartof	Technology Innovation Management Review	en_US
dc.title	Smart Contract Relations in e-Commerce: Legal Implications of Exchanges Conducted on the Blockchain	en_US
dc.type	Journal Article
utslib.citation.volume	10	en_US
utslib.citation.volume	7	en_US
utslib.for	1801 Law	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Law
utslib.copyright.status	open_access
pubs.consider-herdc	false	en_US
pubs.issue	10	en_US
pubs.publication-status	Published	en_US
pubs.volume	7	en_US

Abstract:

Much of the discussion around blockchain-based smart contracts has focused on whether or not they operate in the same way as legal contracts. However, it is argued that most contracts are social rather than legal in nature and are entered into because the parties trust each other to perform the agreed exchange. Little has been written to address how the blockchain’s trust protocol can enable the kind of social contracting that characterized the way exchanges were conducted before the Internet. This article aims to fill that gap by exploring blockchain-based smart contracts primarily as noncontractual social exchanges.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/127958