Concept and Distinctive Features of the "Smart Contract" Technology

Irina Gladilina, Svetlana Sergeeva, Trofimovskaya Alla

2021

Abstract

The article puts forward and provides confirmation of the following hypothesis that use of "Smart Contracts" in the management of procurement activities will increase its efficiency. To confirm the hypothesis put forward, the article considers the Blockchain technology, which is inextricably linked with the "Smart Contract"; the legal essence of the "Smart Contract" through the elements of economic analysis is investigated; the problems of asymmetry of information, opportunism of participants, distribution of risk and many other prerequisites for the behavior of participants in the procurement process are investigated. A "Smart Contract" is one of the most optimal mechanisms for the evolution of contract law, especially for a state (municipal) contract.

Paper Citation

in Harvard Style

Gladilina I., Sergeeva S. and Alla T. (2021). Concept and Distinctive Features of the "Smart Contract" Technology. In Proceedings of the 2nd International Scientific and Practical Conference "COVID-19: Implementation of the Sustainable Development Goals" - Volume 1: RTCOV, ISBN 978-989-758-617-0, pages 109-112. DOI: 10.5220/0011111400003439

in Bibtex Style

@conference{rtcov21,
author={Irina Gladilina and Svetlana Sergeeva and Trofimovskaya Alla},
title={Concept and Distinctive Features of the "Smart Contract" Technology},
booktitle={Proceedings of the 2nd International Scientific and Practical Conference "COVID-19: Implementation of the Sustainable Development Goals" - Volume 1: RTCOV,},
year={2021},
pages={109-112},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0011111400003439},
isbn={978-989-758-617-0},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 2nd International Scientific and Practical Conference "COVID-19: Implementation of the Sustainable Development Goals" - Volume 1: RTCOV,
TI - Concept and Distinctive Features of the "Smart Contract" Technology
SN - 978-989-758-617-0
AU - Gladilina I.
AU - Sergeeva S.
AU - Alla T.
PY - 2021
SP - 109
EP - 112
DO - 10.5220/0011111400003439