SMART CONTRACTS: SECURITY ISSUES AND FURHTER DEVELOPMENT IN BRAZIL

Abstract

This study aims to describe how smart contracts are made and the legal certainty of using them on business contracts. For this, the study concepted the smart contract, as well its characteristics and the difference between smart contract and e-contract. Itdescribed the legal certainty of smart contracts and how they can be used on business transactions. Besides, the research explained the importance of blockchain, ethereum and cryptocurrency inthe smart contract. At last, it describeshow smart contracts are applied in the legal universe and demonstrated their advantages as self-execution and clauses’ immutability. For this work, bibliographicresearch and deductive method were used. The study concluded that the inexistence of law causes legal insecurity which represents an obstacle to spread the use of smart contracts.