A smart contract is an autonomous contract.

Mahammedi Abdelkhalak, Khelkhal Maroua

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Published: Sep 14, 2023

Keywords:

Contract, Intelligence, Software, Autonomous, Self-contained

Mahammedi Abdelkhalak, Khelkhal Maroua

Abstract

Technological advancement has led to a revolution in the world of communications, software, and computing, making technology tools perform human functions. One of the prominent aspects of this is known as smart contracts. These are contracts programmed automatically, encompassing all contract terms and having automatic execution. The role of the contracting parties is limited to their willingness and agreement to the contract, and thereafter, the contract itself, especially its execution, is performed automatically. Smart contracts are contracts based on computer programming, meaning they are formulated in the form of code within a computer program. This makes smart contracts self-contained, not requiring the legal formalities of traditional contracting.

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Vol. 60 No. 2 (2023)

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