Smart Contract From The Perspective Of Contract Law:Legal Attributes,Impacts And Responses

In the digital economy,blockchain technology as a decentralized trust tool is in full swing.Smart contract is one of the most potential application scenarios of blockchain technology.It is a blockchain network as a medium,in the form of code,and its contract terms can be automatically digitized by computer under the pre-set conditions,contract.Smart contracts have not jumped out of the existing contract law framework,and their form and substance can be incorporated into the traditional contract law theory.However,as a new thing,smart contracts have also had an impact on China's contract law,and there is no need to respond to existing private law norms.Based on the comprehensive use of literature research,comparative analysis and case analysis,this paper divides the content into four parts to elaborate:The first part clarifies two misunderstandings of smart contracts,and on the basis of historical traceability,expounds the understanding of the basic connotation of smart contracts.The second part examines the smart contract into the existing contract law framework,clarifies the attributes of the smart contract contract law frorm the contract form and the contractual essence,and from the smart contract new rights object,the effectiveness and compliance are consistent,the smart contract loophole problem Three aspects analyze its risks and challenges to the traditional contract law.The third part discusses the extraterritorial relevant legislation and practical experience of smart contracts,and summarizes the legislative status and regulatory path of smart contract issues in the United States,Russia and the European Union.The fourth part mainly responds to the legal dilemma of smart contracts from three aspects:constructing digital rights,adhering to policy-oriented institutional arrangements,and strengthening smart contract auditing.