The value of smart contracts in regulating foreign economic transactions

Kurbonova  Mushtariy

doi:10.31149/ijefsd.v3i5.1825

Kurbonova Mushtariy Tashkent State University of Law Tashkent

DOI: https://doi.org/10.31149/ijefsd.v3i5.1825

Keywords: smart contract, blockchain, distributed ledger technology, foreign economic (trade) transaction, international arbitration dispute, Ethereum, ICO (Initial Coin Offering), cryptocurrency, token

Abstract

In this article, the author addresses the legal aspects of the conclusion of international agreements between the subjects of private law, in particular smart contracts. Systemic analyzes of private-level contracts based on the practice of German law and a number of other states, as well as on the basis of a comparative analysis method with a written form of contracts, positive and negative aspects of the nature of smart-contracts were revealed. The concluding opinions on the impact of smart contracts for foreign economic stability are given, and to the prospect of the individual relations of subjects in the Republic of Uzbekistan.

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