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Cambridge Handbook of Smart Contracts, Blockchain Technology and Digital Platforms [Kõva köide]

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  • Formaat: Hardback, 386 pages, kõrgus x laius x paksus: 261x183x25 mm, kaal: 890 g, Worked examples or Exercises; 2 Halftones, black and white
  • Sari: Cambridge Law Handbooks
  • Ilmumisaeg: 10-Oct-2019
  • Kirjastus: Cambridge University Press
  • ISBN-10: 1108492568
  • ISBN-13: 9781108492560
Teised raamatud teemal:
Cambridge Handbook of Smart Contracts, Blockchain Technology and Digital PlatformsSuurem pilt
  • Formaat: Hardback, 386 pages, kõrgus x laius x paksus: 261x183x25 mm, kaal: 890 g, Worked examples or Exercises; 2 Halftones, black and white
  • Sari: Cambridge Law Handbooks
  • Ilmumisaeg: 10-Oct-2019
  • Kirjastus: Cambridge University Press
  • ISBN-10: 1108492568
  • ISBN-13: 9781108492560
Teised raamatud teemal:
Püsilink: https://www.kriso.ee/db/9781108492560.html
Märksõnad:
The product of a unique collaboration between academic scholars, legal practitioners, and technology experts, this Handbook is the first of its kind to analyze the ongoing evolution of smart contracts, based upon blockchain technology, from the perspective of existing legal frameworks - namely, contract law. The book's coverage ranges across many areas of smart contracts and electronic or digital platforms to illuminate the impact of new, and often disruptive, technologies on the law. With a mix of scholarly commentary and practical application, chapter authors provide expert insights on the core issues involving the use of smart contracts, concluding that smart contracts cannot supplant contract law and the courts, but leaving open the question of whether there is a need for specialized regulations to prevent abuse. This book should be read by anyone interested in the disruptive effect of new technologies on the law generally, and contract law in particular.

This collaboration between scholars, legal practitioners, and technology experts analyzes the ongoing evolution of smart contracts, based upon blockchain technology, from the perspective of existing legal frameworks. It will interest anyone interested in the disruptive effect of new technologies on the law generally, and contract law in particular.

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'This is a fascinating book with surprises for the reader in each chapter.' J. Brzezinski, Choice

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Analyzes the ongoing evolution of smart contracts, based upon blockchain technology, from the perspective of existing legal frameworks.
List of Contributors
xviii
Preface xxi
Part I General Framework: Legal and Technological
1(58)
1 Smart Contracts and Contract Law
3(16)
Larry A. DiMatteo
Michel Cannarsa
Cristina Poncibo
1.1 Introduction
3(3)
1.2 Rush to Judgment: Is Additional Regulation Needed?
6(1)
1.3 Formalism and Contextualism
6(2)
1.3.1 Form and Context: Smart Contract
8(1)
1.4 Enforceability of Smart Contracts
8(1)
1.5 "Dumb, Smart Contracts" to "Smart, Smart Contracts": Issues of Completeness and Normativity
9(2)
1.6 Coverage
11(7)
1.6.1 Law and Technology
11(1)
1.6.2 Smart Contracts and Contract Law
12(1)
1.6.3 Electronic Platforms and Smart Contracts
13(1)
1.6.4 Smart Contracts as Legally Disruptive
14(1)
1.6.5 Technology in China
15(1)
1.6.6 Blockchain Technology: Privacy, Security, and Data Protection Issues
15(2)
1.6.7 Smart Contracts: Courts, Lawyers, and Consumers
17(1)
1.6.8 Observations and Visions of Technology and the Law: Smart Contracts, Blockchain, and Artificial Intelligence
17(1)
1.7 Conclusion
18(1)
2 Definitions of Smart Contracts: Between Law and Code
19(18)
Riccardo de Caria
2.1 Introduction: Definitions
19(5)
2.1.1 Blockchain
19(2)
2.1.2 (Decentralized) Smart Contracts
21(3)
2.2 Current and Evolving Legal Framework
24(2)
2.3 Smart Contracts and Blockchain in Action
26(2)
2.4 Legal Questions
28(7)
2.4.1 Assets Protected by Intellectual Property Laws?
29(2)
2.4.2 A Form of Preemptive Self-Help?
31(1)
2.4.3 Issues of Jurisdiction and Applicable Law
32(2)
2.4.4 Probative Value
34(1)
2.4.5 General Data Protection Regulation
35(1)
2.5 Conclusion
35(2)
3 Technology of Smart Contracts
37(22)
Valentina Gatteschi
Fabrizio Lamberti
Claudio Demartini
3.1 Introduction
37(8)
3.1.1 How Does a Blockchain Work?
38(4)
3.1.2 How Does a Smart Contract Work?
42(3)
3.2 Examples of Applications of Blockchain and Smart Contracts
45(8)
3.2.1 Personal Data Management
46(1)
3.2.2 Notary Services
46(1)
3.2.3 Finance
47(1)
3.2.4 Industry
48(1)
3.2.5 Insurance
49(1)
3.2.6 Government, Healthcare and Education
50(1)
3.2.7 Software and Internet
51(1)
3.2.8 Sharing Economy
52(1)
3.2.9 Social Impact
52(1)
3.3 Mainstream Adoption of Blockchain and Smart Contracts: Open Issues
53(4)
3.4 Conclusion
57(2)
Part II Contract Law and Smart Contracts
59(82)
4 Formation of Smart Contracts under Contract Law
61(19)
Mateja Durovic
Andre Janssen
4.1 Introduction
61(2)
4.2 Evolution of Blockchain Technology and the Rise of Smart Contracts
63(2)
4.3 Blockchain-Based Smart Contracts and the Process of Contract Formation
65(1)
4.4 The Compatibility of Smart Contracts with the Requirements of Contract Formation
66(6)
4.4.1 Offer and Acceptance
67(2)
4.4.2 Consideration
69(2)
4.4.3 Intention to Create Legal Relations
71(1)
4.4.4 Capacity
71(1)
4.5 Conflict Areas between Smart Contracts and Traditional Contract Law
72(7)
4.5.1 Flexible Enforceable Legal Contracts versus Firm Self-Enforcing Smart Contracts
73(2)
4.5.2 The Different Aims of Legal Contracts and Smart Contracts
75(1)
4.5.3 Computer Code versus Natural Language
76(1)
4.5.4 Consumer Protection Law and (Egalitarian) Smart Contracts
77(2)
4.6 Conclusion
79(1)
5 Challenges of Smart Contracts: Implementing Excuses
80(22)
Eric Tjong Tjin Tai
5.1 Introduction
80(1)
5.2 Characteristics of Smart Contracts
81(3)
5.2.1 Bitcoin and Blockchain Technology
81(1)
5.2.2 Smart Contracts
82(1)
5.2.3 I/O Functions: Oracles
83(1)
5.2.4 Programming Intentions and Legal Rules
84(1)
5.3 Law of Excuse for Non-performance
84(7)
5.3.1 Introduction
84(1)
5.3.2 Excuses and the DCFR
85(2)
5.3.3 German Law
87(1)
5.3.4 French Law
88(1)
5.3.5 English Law
88(2)
5.3.6 Analysis
90(1)
5.4 Implementing Excuses in Smart Contracts
91(7)
5.4.1 Introduction
91(1)
5.4.2 Determining the Cause of Non-performance
91(2)
5.4.3 Determining the Attributability of the Cause
93(1)
5.4.4 Specific Categories of Excuses
94(1)
5.4.5 Hardship
95(1)
5.4.6 Breach by the Other Party and Anticipatory Breach
96(1)
5.4.7 Conclusion
97(1)
5.5 The Limits of Smart Contracts and the Evolution of Excuses
98(3)
5.5.1 Ex Ante Regulation versus Ex Post Adjudication
98(1)
5.5.2 Vague Standards and Libraries of Conditions
98(1)
5.5.3 Relational Contracts and the Use Cases for Smart Contracts
99(2)
5.6 Conclusion
101(1)
6 Contract Interpretation
102(16)
Michel Cannarsa
6.1 Introduction
102(3)
6.1.1 Law and Technology
102(1)
6.1.2 The Smart Contracts Phenomenon
103(2)
6.2 An Overview of Blockchain Technology and Smart Contracts
105(3)
6.2.1 Variety of Definitions
105(1)
6.2.2 Language of Code
106(1)
6.2.3 Physical and Virtual Environments
107(1)
6.3 Traditional Interpretation of Smart Contracts
108(4)
6.3.1 Traditional Interpretation
108(3)
6.3.2 New Objects and Rules of Interpretation
111(1)
6.4 Smart Interpretation?
112(3)
6.4.1 Automated Interpretation
112(2)
6.4.2 The End of Interpretation by Courts?
114(1)
6.5 Conclusion
115(3)
7 Smart Contracts: Contractual and Noncontractual Remedies
118(23)
Cristina Poncibo
Larry A. DiMatteo
7.1 Introduction
118(4)
7.1.1 Illusion of Self-Sufficiency
120(1)
7.1.2 Inflexibility of Smart Contracts
120(1)
7.1.3 Smart Contracts and Remedies
121(1)
7.2 Trust as Remedy
122(2)
7.2.1 Architecture of Trust for Smart Contracts
122(2)
7.3 Self-Help for Smart Contracts
124(3)
7.4 Self-Help: Codifying, Security, Privacy, and Performance
127(7)
7.4.1 Codifying
128(1)
7.4.1.1 Writing Correct Smart Contracts
128(1)
7.4.1.2 Training for Coders and Legal Engineering
129(1)
7.4.1.3 Modifying Smart Contracts
129(1)
7.4.1.4 Avoiding Underoptimized Smart Contracts
130(1)
7.4.1.5 Complexity of Programming Languages
130(1)
7.4.2 Security Issues
131(2)
7.4.3 Privacy Issues
133(1)
7.4.4 Performance Issues
133(1)
7.5 Blockchain-Based Self-Help
134(5)
7.5.1 Mining
135(1)
7.5.2 Deposits or Escrow Services
136(1)
7.5.3 Gossiping
137(1)
7.5.4 Reputation
138(1)
7.5.5 Social Repudiation
138(1)
7.6 Conclusion
139(2)
Part III Electronic Platforms and Networks
141(70)
8 Digital Platforms: Regulation and Liability in EU Law
143(17)
Piotr Tereszkiewicz
8.1 Introduction
143(1)
8.2 Legal Regime of the E-Commerce Directive
144(4)
8.2.1 Liability under the E-Commerce Directive
144(2)
8.2.2 Interplay of the E-Commerce Directive and Other Regulatory Regimes
146(2)
8.3 Position of the European Commission
148(2)
8.3.1 Criteria for Establishing the Contractual Role of a Digital Platform
148(1)
8.3.2 Assessment
149(1)
8.4 Contract Law Approaches to Determining the Status of Digital Platforms
150(2)
8.5 Discussion Draft of Directive on Online Intermediary Platforms
152(4)
8.5.1 Content of Discussion Draft
152(1)
8.5.2 Assessment
153(3)
8.6 `Retailer-Liability' Approach to Digital Platform Liability
156(3)
8.6.1 New Package Travel Directive as Referent
156(2)
8.6.2 Assessment
158(1)
8.7 Conclusion
159(1)
9 Blockchains: A Technology for Decentralized Marketplaces
160(23)
Eliza Mik
9.1 Introduction
160(2)
9.1.1 Roadmap
161(1)
9.2 What Are "Blockchains"?
162(3)
9.2.1 Public Blockchains
163(1)
9.2.2 Private Blockchains
164(1)
9.2.3 Weighing the Risks and Benefits
164(1)
9.3 Dissecting Decentralization
165(3)
9.3.1 The Theory
165(1)
9.3.2 The Technology
166(1)
9.3.3 In Practice
167(1)
9.4 Decentralization and Governance
168(2)
9.4.1 Clarifying the Terms
168(1)
9.4.2 The Importance of Off-Chain Governance
169(1)
9.5 Blockchains Are Databases
170(1)
9.6 Blockchains Are Immutable
171(2)
9.7 The Transactional Layer: "Smart Contracts"
173(3)
9.7.1 Problems with the Code
174(1)
9.7.2 Encoding Obligations
175(1)
9.7.3 Interfacing with the Real World
175(1)
9.8 A Case Study: OpenBazaar
176(6)
9.8.1 A Broad Description
176(2)
9.8.2 Payment and Dispute Resolution
178(2)
9.8.3 Control and Choice
180(1)
9.8.4 "Pockets" of Centralization
181(1)
9.9 Conclusion
182(1)
10 Regulating Smart Contracts and Digital Platforms: A Chinese Perspective
183(28)
Jia Wang
Lei Chen
10.1 Introduction
183(1)
10.2 Development of Smart Contracts
184(4)
10.2.1 Emerging Smart Contracts
184(2)
10.2.2 Development of Smart Contracts in China
186(2)
10.3 Challenges to Smart Contracts
188(5)
10.3.1 Understandability and Rigidity
189(1)
10.3.2 Revisiting the Law of Contracts
189(1)
10.3.2.1 Formation of Contract
189(2)
10.3.2.2 Performance and Modification
191(1)
10.3.2.3 Enforcement, Remedies, and Dispute Resolution
192(1)
10.4 Responses to the Challenges
193(5)
10.4.1 Paradigm Shift From "Code Is Law" to "Law Is Code"
194(2)
10.4.2 Regulatory Efforts
196(1)
10.4.3 Judiciary as Last Resort
197(1)
10.5 Online Platforms as Intermediaries
198(9)
10.5.1 Gatekeeping Theory Revisited
198(4)
10.5.2 Legislative History
202(1)
10.5.3 Practice in China
203(3)
10.5.4 Trend of Liability
206(1)
10.6 The Way Forward
207(2)
10.7 Conclusion
209(2)
Part IV Privacy, Security and Data Protection
211(58)
11 Blockchain and Data Protection
213(20)
Lokke Moerel
11.1 Introduction
213(2)
11.2 Difficulty of Identifying the Controller
215(1)
11.3 Overview Issues Posed by Blockchain under the GDPR
216(1)
11.4 A Different Perspective: Blockchain in Context
217(4)
11.4.1 Blockchain is a General Purpose Technology
217(1)
11.4.2 Blockchain as a New Global Resource
218(1)
11.4.3 No More Middlemen?
218(2)
11.4.4 Decentralization in a Broader Context
220(1)
11.5 Cross-Border Enforcement and Jurisdiction Issues
221(2)
11.6 Broader Governance Issues
223(1)
11.7 GDPR Does Not Impose Requirements on Designers of Technology
224(2)
11.8 Individuals as Data Subjects and as Controllers: Docs This "Turn the Conceptual" GDPR Framework on Its Head?
226(1)
11.9 Issues with Blockchain Are Not Limited to Data Protection
227(1)
11.10 Right to Be Forgotten Is Not Absolute
228(1)
11.11 Privacy-by-Design Options
228(4)
11.12 Conclusion
232(1)
12 Data Protection in Hybrid Worlds
233(7)
Sjef van Erp
12.1 Introduction
233(1)
12.2 Traditional Approach
234(1)
12.3 Political Choices, Policy Choices and Leading Principles
235(2)
12.4 Data as an Object of Entitlement
237(1)
12.5 Final Remarks
238(2)
13 Smart Contracts: Issues of Property and Security Rights
240(11)
Louis-Daniel Muka Tshibende
13.1 Introduction
240(1)
13.2 Overview of Legal Issues Relating to Property and Security Rights
241(3)
13.2.1 New Items Captured by Property and Security Rights
241(2)
13.2.2 Old Constraints Relating to Property and Security Rights
243(1)
13.3 Prospective Proposals
244(105)
13.3.1 Proposals for States and Public Authorities
244(5)
13.3.2 Suggestions for Lawyers and Contracting Practices
249(1)
13.4 Conclusion
249(2)
14 Algorithmic Contracts and Consumer Privacy
251(1)
Lauren Henry Scholz
14.1 Introduction
251(3)
14.2 Algorithmic Contracts versus Smart Contracts
254(3)
14.3 Consumer Contracts versus Business-to-Business Contracts
257(4)
14.4 Privacy Clauses and Individual Rights
261(3)
14.5 Limitations on Freedom to Contract Away Privacy Rights
264(4)
14.6 Conclusion
268(1)
Part V Smart Contracts: Courts and the Legal Profession
269(42)
15 Smart Contracts and the Courts
271(17)
Marc Clement
15.1 Introduction
271(1)
15.2 Concept of Interfaces
272(5)
15.2.1 Closed World of Software Engineers
273(2)
15.2.2 Do Blockchain Technologies Modify the Picture?
275(1)
15.2.3 Coding Contractual Commitments
276(1)
15.3 Exploring Interfaces
277(6)
15.3.1 First Interface: Legality of the Operation
277(1)
15.3.2 Three Additional Interfaces: Oracles, Subscription and Delivery
278(1)
15.3.2.1 Oracles
279(1)
15.3.2.2 Subscription of Contract
280(1)
15.3.2.3 Delivery
281(1)
15.3.2.4 From Intention to Software: A Fifth Interface
281(2)
15.4 Ignoring Conflicts of Interpretation?
283(2)
15.5 Alternative Dispute Resolution Mechanisms and Effectiveness of Courts in a Utqpian World
285(1)
15.6 Beyond Smart Contracts
286(2)
16 Usefulness and Dangers of Smart Contracts in Consumer Transactions
288(23)
Oscar Borgogno
16.1 Introduction
288(1)
16.2 Setting the Scene
289(2)
16.3 Features of Smart Contracts
291(4)
16.3.1 Strengths
291(1)
16.3.2 Weaknesses
292(2)
16.3.3 When Are Smart Contracts a Smart Choice?
294(1)
16.4 Stakes for Consumers
295(4)
16.4.1 Obstacles to Consumer Rights Enforcement
295(1)
16.4.2 Facilitating Enforcement of Rights through Smart Contracts
296(1)
16.4.3 Case of Passenger Rights
297(2)
16.5 Stakes for Business
299(2)
16.6 Looking Ahead
301(3)
16.6.1 What Degree of Decentralization?
302(1)
16.6.2 Which Regulatory Strategy?
302(2)
16.7 Conclusion
304(1)
16.8 Postscript: Smart Contracts and Lawyers (Mathieu Martin)
305(6)
16.8.1 The Lawyer and "the Code Is Law"
305(1)
16.8.2 Lawyer and Code
306(1)
16.8.2.1 Lawyer as Smart Contract Publisher
306(1)
16.8.2.2 Lawyer's Ethical Obligations
307(1)
16.8.3 Smart Contract as Universal Tool
307(1)
16.8.4 Lawyer's Intellectual Impoverishment
308(1)
16.8.5 Smart Contract and the Lawyer 2.0
308(1)
16.8.6 What Is Left for the Lawyer?
308(3)
Part VI Future of Smart Contracts, Blockchain and Artificial Intelligence
311
17 Smart Transactional Technologies, Legal Disruption, and the Case of Network Contracts
313(21)
Roger Brownsword
17.1 Introduction
313(2)
17.2 Two Types of Disruption to the Law
315(4)
17.2.1 First Disruption
316(1)
17.2.2 Second Disruption
317(2)
17.3 Two Responses to Smart Transactional Technologies: Coherentist and Regulatory-Instrumentalist
319(6)
17.3.1 Coherentism and Regulatory Instrumentalism
320(1)
17.3.2 Three Strands of Coherentist Thinking
320(1)
17.3.2.1 Formal (Internal) Coherence of Contract Doctrine
320(1)
17.3.2.2 Substantive Coherence
321(1)
17.3.2.3 Classificatory or Template Coherence
321(2)
17.3.3 Courts, Legislatures, and Regulatory Agencies
323(2)
17.4 Two Responses to Smart Contracts and Networks
325(6)
17.4.1 Networks and the Law of Contract
325(2)
17.4.2 Networks, Smart Contracts, and Coherentism
327(2)
17.4.3 Networks, Smart Contracts, and Regulatory-Instrumentalism
329(2)
17.5 Conclusion
331(2)
17.6 Coda
333(1)
18 Observations on the Impact of Technology on Contract Law
334(25)
Barbara Pasa
Larry A. DiMatteo
18.1 Introduction
334(2)
18.2 Smart Contracts: Old Legal Constructs or New Regulations?
336(9)
18.2.1 Smart Contracts as Traditional Contracts
339(1)
18.2.1.1 Formation
339(1)
18.2.1.2 Enforcement
340(2)
18.2.2 Impossibility of Performance and Self-Sufficiency
342(1)
18.2.3 Interpretation
343(1)
18.2.4 Transmission of Real Estate and Smart Property
344(1)
18.3 Shortcomings of Blockchain and Regulation of Smart Contracts
345(5)
18.3.1 E-Platforms and Networks
345(2)
18.3.2 Data and Privacy Protection
347(2)
18.3.3 Blockchain and Consumers
349(1)
18.4 Intersection of Law and Technology: A View from the Balcony
350(2)
18.4.1 A Perspective from China
352(1)
18.5 Blockchain from the Front Lines
352(1)
18.6 Assessing the Present and Fearing the Future
353(2)
18.6.1 Terminology and Lawyers as Coders
353(1)
18.6.2 Detachment of Human Element from Contracting
354(1)
18.7 Observations
355(2)
18.8 Conclusion
357(2)
19 Visions of Future: Smart Contracts, Blockchain, and Artificial Intelligence
359
Diana Wallis
19.1 Introduction
359(1)
19.2 Legislation and the Legislator
359(1)
19.2.1 Limits of Jurisdiction
360(1)
19.3 Law as Reactive
360(1)
19.4 Flight from Law
361(2)
19.4.1 Lessons from History: E-Commerce Directive, Brussels I, and Rome II
361(2)
19.5 Digital Paradigms
363
Larry A. DiMatteo is Huber Hurst Professor of Contract Law at the University of Florida. He is the former Editor-in-Chief of the American Business Law Journal, a 2012 Fulbright Professor at the University of Sofia, and author or co-author of 120 publications, including twelve books. Michel Cannarsa is Associate Professor and Dean at Université Catholique de Lyon Faculty of Law. His areas of research are International and European Law, Commercial Law, Comparative Law, Consumer Law, Law of Obligations and Legal Translation. Cristina Poncibò is Associate Professor of Comparative Private Law at the Department of Law of the Università degli Studi di Torino, Italy. Her research interests are in the fields of comparative law, interdisciplinary approaches to comparative law, comparative contract law, private law and market regulation.