On September 23, 2024, a meeting of the scientific group «Actual issues of private law» was held (the head of the scientific group is O.M. Koval). Topic: «Legal aspects of using smart contracts in commercial transactions».
The meeting was opened according to the plan, and in the introductory speech, the moderator emphasized the importance of the discussed topic, considering the rapid development of blockchain technologies and their impact on modern commercial practices.
The participants presented the results of the analysis of the legal regulation of smart contracts in different countries. Special attention is paid to the experience of the European Union and the USA, where regulations are actively being developed for the integration of smart contracts into the legal system.
A few important court precedents and practical cases that influenced the formation of law enforcement in the field of smart contracts were discussed. The participants considered the issue of the legal force of smart contracts, their compliance with traditional legal norms, and possible risks for the parties to the agreement.
During the meeting, the issues of determining the legal status of smart contracts, protecting the rights and interests of the participants, as well as the issue of cyber security were actively discussed. Participants expressed different views, suggesting ways to harmonize technological innovations with existing legislation.
As part of the meeting, various options for improving the legislative framework were proposed regarding the implementation of special rules for the regulation of smart contracts, determining the responsibility of the parties and dispute resolution mechanisms.
In the closing remarks, the moderator emphasized the importance of the discussion for understanding and solving problems related to the use of smart contracts in commercial transactions and expressed hope for the further development of the discussion and scientific research in this area.
The meeting was closed with thanks to all participants for their active participation and contribution to the discussion of important contemporary legal issues.
23.09.2024
