Towards models of integration of smart contracts into traditional concepts of European contract law
PhD student: Mrs M. Breskaya
Promotors: Prof J.M. Smits, Dr C. Cauffman
Duration: 1/7/2022 - 30/6/2026
This research project aims to provide a comprehensive analysis of the conceptual dimension of smart contracts and their conformity with traditional principles of modern contract law. This conceptual approach is founded on the idea that contract law is inherently flexible and, primarily, a functional instrument that reflects the state of current economic development and adjusts to changing needs of markets. This way, the research is focused on the historical foundations of the ideas and concepts constructing modern contract law. This perspective can allow us to trace and assess the role, function, and character of contract law at the moments of tremendous changes in economic and social structures. This research seeks to contribute to a clearer understanding of our expectations from contract law and its required functions in modern markets as well as to assess the ability of smart contracts to meet commercial expectations. All these points require a detailed analysis of how contract law is prepared to apply and adapt some of its long-established doctrines and responses to the new technology in which agreements yield to performance.