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A Study on the Normative Recognition of Blockchain Smart Contract

  • Song, In-Bang (Graduate School of entrepreneurship, Gyeongnam National University of Science and Technology) ;
  • Kim, Yeon-Jong (Graduate School of entrepreneurship, Gyeongnam National University of Science and Technology)
  • Received : 2019.12.18
  • Accepted : 2020.01.06
  • Published : 2020.01.31

Abstract

In this paper, We purpose an improvement plan for the settlement of smart contracts into legal norms through the recognition of the norms of blockchain-based smart contracts and the main influence factors on the norms of smart contracts. First, in terms of the normative necessity of smart contracts, legal protection against technical errors, government-level public relations education, and basic laws governing smart contract business are needed. Second, the contract norms will be accepted by the contract norms based on the blockchain designed to make the responsible material clear in terms of smart contract usability. Third, in terms of regulation of smart contracts, it can be seen that smart contracts are subsumed from existing laws or considering new legislation, but the norm of smart contracts cannot be prioritized over ease of use.

Acknowledgement

Supported by : National Research Foundation of Korea

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