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

Authors

1 Master's degree in private lawuniversity of judicial sciences and administrative services

2 Associate professor of law at Tehran University

Abstract

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

Keywords


صفایی، سید حسین، (1392)، دوره مقدماتی حقوق مدنی، جلد دوم، تهران، انتشارات میزان
کاتوزیان، ناصر، (1384)، دوره مقدماتی حقوق مدنی، اعمال حقوقی(قرارداد-ایقاع)، تهران، شرکت سهامی انتشار
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مهران فر، محمد رضا، (1387)، آشنایی با مفاهیم بورس اوراق بهادار، تهران، نشر چالش
 
 
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  • Receive Date: 28 May 2018
  • Revise Date: 09 September 2018
  • Accept Date: 29 September 2018
  • First Publish Date: 22 December 2019