Research On Contract Law In Smart Contract

The concept of smart contract has been proposed for a long time.It is mostly use d in the financial field,but it has not become a widely used form of transaction.A ver y important reason is the lack of trust mechanism,because the server as a database is very vulnerable to attack or tampering.In 2008,bitcoin system established a decentral ized point-to-point payment system,relying on asymmetric encryption,point-to-point network and consensus mechanism,so that it can operate independently,and no thirdparty institution can change its history.This gives practitioners the Enlightenment of s etting up a smart contract platform based on blockchain.Ethereum went online in 2014,which allows anyone to establish smart contract applications on their blockchain ne twork.With the development of public chain dapps ecology,the number of applicatio ns in Ethereum public chain shows an exponential growth trend.In recent years,thank s to the development of decentralized Finance(DFI)and non homogenous pass(NF T),smart contract finance has begun to attract the attention of listed companies and in stitutional investors.Oracle technology also makes it possible for smart contracts to in teract inside and outside the chain,providing a bridge between smart contracts and the real world.At the same time,as a new form of transaction,smart contract has a structure sim ilar to contract.The legal status of electronic contract is different from that of tradition al electronic contract and intelligent contract.But are there any differences between th em? What are the essential differences between smart contracts and traditional contrac ts? How to deal with the impact of new technologies such as smart contract on the tra ditional legal system under the framework of contract law? This article explores the a bove issues:The first chapter first introduces the history of the development of smart contrac t,then combs and analyzes the definition of smart contract by scholars in this field.Th e author summarizes the connotation of the definition of smart contract from different stages of the development of electronic contract.Finally,through the discrimination b etween smart contract and common electronic contract,the extension of the definition of smart contract is limited,and the problem of what is and what is not smart contract is solved.The second chapter first analyzes the current situation and development prospect of smart contract application market,and makes clear the necessity of legal supervisio n of smart contract.The maker contract is explained in detail in the form of flow char t,which intuitively shows the operation process of smart contract and the principle of Oracle.Why should we regulate smart contracts? How smart contracts work.The third chapter analyzes the problems existing in the application of smart contr act technology in the contract law.From the five perspectives of the definition of cont ract,the purpose of contract law,the form of contract and the expression of intention i n the contract,it is found that whether the parties of smart contract and traditional con tract are legally bound,the form of expression of intention,whether they can breach t he contract,whether they can be involved by a third party organization There are great differences in the effectiveness of illegal content,and some problems in the regulatio n of smart contract by contract law are found.The fourth chapter makes a countermeasure response to the problems found in th e analysis of the third chapter,and puts forward the post relief and de anonymization s upervision methods for the problems that the parties cannot be legally bound.Aiming at the problem of illegal smart contract,this paper puts forward a scheme that the gov ernment establishes a partially centralized public chain.Aiming at the problem that th e threshold of legal interpretation of computer code is too high,this paper puts forwar d a solution to formulate the standard format of intelligent contract.Finally,it puts for ward the regulation method of Oracle,the external information source of smart contra ct,and indirectly realizes the supervision of smart contract through the supervision of Oracle.Before starting this article,we should emphasize a key feature of smart contract-the ability to operate independently from the judiciary.This feature is unique to block chain and is also the difference between smart contract and electronic contract.Most o f the legal issues raised in this paper also arise,and the regulatory countermeasures m ainly focus on "how can the judiciary intervene in smart contract".