- AutorIn
- Martin Fries
- Titel
- Private law compliance through smart contracts?
- Zitierfähige Url:
- https://nbn-resolving.org/urn:nbn:de:bsz:15-qucosa2-212144
- Quellenangabe
- Compliance Elliance Journal - 4 (2018),1, Legal tech
Erscheinungsjahr: 2018
Jahrgang: 4
Heft: 1
Seiten: 11-18 - Erstveröffentlichung
- 2018
- Abstract (EN)
- Smart contracts allow for automated compliance with contractual rules. They derive their “smartness” from an execution software that catches the most typical defaults and responds by mechanically triggering a compensation payment or another prearranged consequence. Through this self-enforcement mode, smart contracts are able to save time and effort that is associated with more customary rights enforcement mechanisms. Now, whereas compliance with in-house rules or corporate governance standards is common today, compliance with contract law only occurs on a voluntary basis. This might, however, change if businesses should be obliged to automatically meet customer claims through smart contracts. On the basis of a sample case, this article examines the pros and cons of smart consumer contracts and carves out the most suitable applications of smart contracts as a means to ensure private law compliance.
- Freie Schlagwörter (DE)
- Legal Technology, legal tech, Compliance, Software, Jurist
- Freie Schlagwörter (EN)
- Legal technology, legal tech, compliance
- Klassifikation (DDC)
- 343
- Publizierende Institution
- Universität Leipzig, Leipzig
- University of Miami, Miami
- Version / Begutachtungsstatus
- angenommene Version / Postprint / Autorenversion
- URN Qucosa
- urn:nbn:de:bsz:15-qucosa2-212144
- Veröffentlichungsdatum Qucosa
- 14.05.2018
- Dokumenttyp
- Artikel
- Sprache des Dokumentes
- Englisch