Legal Risk Prevention Of Smart Contracts

Smart contracts are special identity contracts embedded in the blockchain,where the parties to a smart contract have a consistent expression of intent.Compared with traditional contracts,smart contracts have the following advantages: improve transaction efficiency and reduce transaction costs;Alleviating enforcement dilemma and enhancing enforcement guarantee;Reduce litigation fatigue,promote technical governance;Protect subject privacy and facilitate information sharing.Smart contracts are faced with legal risks in terms of language conversion and interpretation defects,difficult to judge the capacity of civil contracting subjects,unreal meaning expression,limited performance,modification and termination,and difficult right relief.In order to improve the frontier design of smart contract risk prevention law in China by referring to the beneficial legislative experience of smart contract from other countries,it is necessary to integrate the perspectives of law and technology to create a collaborative governance pattern of smart contract law and technology.Specifically,it is to aggrandizement law he governs.One should improve intelligent contract into the path of the traditional contract law framework,adjust the intelligence into the civil code contracts compiled,explain meaning said unanimous for expanding,front offer promise rules,clear intelligent contract comes into effect,increase the intelligent contract legal relief path of irreversibility,expansion of intelligent contract default relief path,etc.On the other hand,the public remedy of smart contract should be strengthened,the liability for breach of contract or tort borne by relevant legal subjects of smart contract should be clarified,the principle of safe harbor should be applied to the provider of smart contract platform,the remote physical control of smart property should follow the principle of proportion,and the entity and procedural disputes in smart contract litigation should be resolved.Second,we should pay attention to code autonomy.It is necessary to establish and improve the unified dispute resolution mechanism of smart contract chain.The third is to realize the coordinated development of law governance and code autonomy.Smart contract technology should be deeply integrated with basic legal values,and new technologies such as application programming interface(API)should be actively introduced to optimize and improve regulatory efficiency.