تحلیل حقوقی کارکرد قراردادهای هوشمند در نقل و انتقالات دیجیتالی در بازار های مالی

نویسندگان

1 دانشجوی دکترای حقوق خصوصی دانشگاه علوم قضایی و خدمات اداری

2 فوق دکترای حقوق تجارت بین‌الملل از دانشگاه مک گیل کانادا، استادیار دانشگاه تهران

چکیده

توسعه تکنولوژی با ایجاد ابزارهای جدید جهت نقل و انتقالات در بازارهای مالی موجب توسعه تجارت الکترونیکی شده است. جدیدترین ابزار به کار گرفته شده در بازار‌های مالی زنجیره بلوکی (بلاک‌چین) و قراردادهای هوشمند می‌باشند. این تحقیق به روش اسنادی در تدوین، به دنبال پاسخ دادن به این سوال است که آیا قراردادهای هوشمند، قراردادهایی معتبر از نظر قانونی تلقی می‌گردند و در صورت معتبر تلقی شدن چه کارکردی در بازار‌های مالی دارند؟ قراردادهای هوشمند، قراردادهایی هستند که در بستر بلاک‌چین تحت نظارت هوش مصنوعی منعقد و مبتنی بر ارزهای رمزنگاری شده دیجیتالی می‌باشند. این قراردادها با توجه به عدم تصویب قوانین خاص در نظامات حقوقی مختلف، تابع قواعد عمومی قراردادها تلقی گردیده و با توجه به اصل آزادی قراردادی، عقودی معتبر تلقی می‌گردند. این تحقیق با مطالعه نظام حقوقی کشور ایالات متحده آمریکا به دنبال بیان این مطلب است که عمده کاربرد قراردادهای هوشمند و سربرگ بلاک‌چین در بازارهای مالی، نقل و انتقال انواع مختلف توکن، ایجاد شفافیت و امنیت در مبادلات انجام یافته در بازارهای سرمایه، فروش اوراق بهادار دیجیتالی، وام‌های سندیکا، سهام نقدی و بازرگانی وام حمایتی می‌باشد. همچنین برخورداری این قراردادها از بستر بلاک‌چین موجب ایجاد شفافیت در مبادلات مبتنی بر زنجیره‌تأمین و جلوگیری از سوءاستفاده‌های مالی شده است. در این مقاله تحت دو بخش به‌طور کلی ابتدا به بررسی مکانیسم انعقاد قراردادهای هوشمند و پس از آن به بررسی کارکرد قراردادهای هوشمند در بازارهای مالی پرداخته شده است.

کلیدواژه‌ها


عنوان مقاله [English]

Legal Analysis of the Functioning of Smart Contracts in Digital Transfers in the Financial Markets

نویسندگان [English]

  • Mahdi Naser 1
  • Mohamad Hasan Razavi 2
1 Master's degree in private lawuniversity of judicial sciences and administrative services
2 Associate professor of law at Tehran University
چکیده [English]

The development of technology has led to the development of e-commerce by creating new tools for the transfers in financial markets . The most recent tool used in the financial market is the Blockchain and Smart Contracts. The research, with the development of a documentary methodology, seeks to answer the question of whether Smart contracts are legally valid contracts and what usefulness do they have, if considered valid, in financial markets? Smart contracts are contracts that are based on artificial intelligence under the control of the Blockchain, based on digital Cryptocurrencies. These contracts are considered to be in accordance with the general rules of contracts and are deemed valid under the principle of contractual freedom, due to the lack of approval of specific laws in different legal systems.. The study, by studying the United States’ comparative legal system, seeks to highlight the use of smart contracts and the Blockchain Ledger in financial markets, the transfer of various tokens, transparency and security in exchanges in capital markets, The sale of tokenized securities, syndicated loans, cash equities and leveraged loan trading. also, creating these contracts in the blockchain ledger has created transparency in supply chain management exchanges and the prevention of financial mismanagement

کلیدواژه‌ها [English]

  • Smart Contracts / Blockchain / Token / Capital Markets / Supply Chain
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