Research On The Regulation Of Blockchain Smart Contracts

Blockchain is evaluated as the foundation of the 4th industrial revolution and the core of digital technology.At present,people are paying more and more attention to the real application of blockchain technology,and smart contracts have become a highly anticipated existence.Smart contracts are based on the decentralization and anonymity of blockchain technology,which can not only ensure the security of transactions,but also reduce transaction fees and legal costs.Based on the above advantages,smart contracts are widely used not only in the field of digital transactions,but also in the fields of financial transactions and global logistics.The smart contract in the current legal context has an influence on the traditional contract law theory of contract formation,loss of revocation rights and remedies for breach of contract.On the technical regulatory level,smart contract coding loopholes,lack of regulation and other issues urgently need to be explored and studied.At this stage,it is necessary to examine in depth how to apply relevant legal provisions to smart contracts in the post-Civil Code era at the technical and legal levels.Although smart contract technology is not yet mature,it provides a new way to change the way of social transactions and resolve the implementation of treaties and disputes in international regional organizations.After researching and analyzing smart contracts,this article finds that smart contracts have not deviated from the framework of traditional contract theory.In order to ensure that smart contracts obtain the due law application and regulate them within the current legal framework,this article conducts research on smart contracts’ extraterritorial legal trends,industry supervision,and industry norms,with a view to the current laws,industry supervision,and industry self-discipline.Based on the experience of foreign legislation to improve and regulate my country’s smart contracts.As a frontier development of legal rules,smart contracts will technically challenge the traditional legal operation mode,but the essence of their development goals is to maintain social justice.In the future,the legal research on smart contracts should incorporate smart contracts into the legal framework of the Civil Code Contracts.Smart contracts should also take the initiative to embrace sandbox supervision and improve industry regulations.Only in this way can the technological and legal aspects of smart contracts be combined,and technology can be used to realize the automatic enforcement of laws and bring about major changes to the entire legal system and legal practice.