Qquality of recognition of the intention of the dealers in Smart Contracts

Rashvand Boukani, Mahdi; Naser, Mahdi

doi:10.30497/law.2019.2548

Qquality of recognition of the intention of the dealers in Smart Contracts

Document Type : Research Article

Authors

¹ Assistant Professor, Private Law Department, Faculty of Law and Political Science, University of Judicial Sciences, Iran

² PhD Student in Private Law, Faculty of Law and Political Science, University of Judicial Sciences, Iran

10.30497/law.2019.2548

Abstract

Technology development is one of the tools for developing e-commerce. In recent years, the emergence of public Ledgers such as the Blockchain and the invention of digital cryptocurrencies have created a new type of electronic contract called smart contracts. Smart contracts are contracts under the supervision of artificial intelligence in the context of the Blockchain, and the contractor replaces them with smart properties or digital cryptocurrencies. Intention is one of the pillars of the formation of any contract in legal systems. These contracts must be able to identify the element of intent in order to be considered valid in any legal system. Acquiring the intent of the parties in smart contracts through the licensing mechanisms for the use of digital signatures, the mechanisms for assigning permissions to use virtual currencies, the mechanisms for accessing information systems, and in contracts that are represented by artificial intelligence, the conclusion of a transaction by The representative represents the intention of the attorney to grant the lawyer to the client.

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