Smart Contract Technology, Evolution in the Development of E-Commerce: Requirements and Policies
Subject Areas : Policy-making and implementation of sustainable development in all areas
Mohsen
Sadeghi
1
(Tehran University)
Mahdi
Naser
2
Keywords: Technology Smart Contracts BlockChain Policymaking Iranian Law American Law,
Abstract :
Modern trading tools play an undeniable role in the development of e-commerce. One of these tools are smart contracts, which have features such as speed and high security compared to other types of electronic contracts. This paper attempts to answer the question of what are the challenges of policymaking the general rules of contract formation at the stage of smart contract conclusion? In general, the most important challenges are to comply with the rules governing these contracts with existing norms in society, the conflicting domestic laws and international regulations, the validation of these contracts, and the means of concluding them including virtual currencies, the mechanism of artificial intelligence performance and the centralized nature of artificial intelligence. Addressing these challenges requires some legislative and executive policymaking, including the adoption of efficient laws for the validation of smart contracts and virtual currencies, the revision of existing laws, predicting thef of virtual currency licensing and the use of digital signatures, informing people and designating regulatory bodies.
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