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Remedies to the Irreversibility of Smart Contracts in Colombian Private Law

Remedies to the Irreversibility of Smart Contracts in Colombian Private Law AbstractThe application of blockchain technology to contractual activity has led to a decrease in transaction costs, but also an enormous potential cost of judicial solutions that order reversal of the effects of smart contracts. This research addresses solutions, both from the perspective of updating the unforeseen theory and from clauses that are introduced to the legal smart contracts to allow reducing the costs associated with judicial decisions that declare an anomaly in the contracts. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Baltic Journal of European Studies de Gruyter

Remedies to the Irreversibility of Smart Contracts in Colombian Private Law

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Publisher
de Gruyter
Copyright
© 2022 José David Arenas Correa, published by Sciendo
ISSN
2228-0596
eISSN
2674-4619
DOI
10.2478/bjes-2022-0014
Publisher site
See Article on Publisher Site

Abstract

AbstractThe application of blockchain technology to contractual activity has led to a decrease in transaction costs, but also an enormous potential cost of judicial solutions that order reversal of the effects of smart contracts. This research addresses solutions, both from the perspective of updating the unforeseen theory and from clauses that are introduced to the legal smart contracts to allow reducing the costs associated with judicial decisions that declare an anomaly in the contracts.

Journal

Baltic Journal of European Studies – de Gruyter

Published: Dec 1, 2022

Keywords: blockchain; contracts; digital enclosures; smart contracts

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