Abstract
| Original language | English |
|---|---|
| Journal | European Journal of Risk Regulation |
| Volume | 10 |
| Issue number | 2 |
| Pages (from-to) | 245-262 |
| Number of pages | 18 |
| ISSN | 1867-299X |
| DOIs | |
| Publication status | Published - Jun 2019 |
Cite this
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Smart Contracts : Reducing Risks in Economic Exchange with No-party Trust? / Eenmaa-Dimitrieva, Helen; Schmidt-Kessen, Maria Jose .
In: European Journal of Risk Regulation, Vol. 10, No. 2, 06.2019, p. 245-262.Research output: Contribution to journal › Journal article › Research › peer-review
TY - JOUR
T1 - Smart Contracts
T2 - Reducing Risks in Economic Exchange with No-party Trust?
AU - Eenmaa-Dimitrieva, Helen
AU - Schmidt-Kessen, Maria Jose
PY - 2019/6
Y1 - 2019/6
N2 - Our study on smart contracts, self-executing agreements based on blockchain technology, can be placed in the field of inquiry within law and economics of contracts which explores new modes of contract enforcement as sources of market creation. We lay the foundations by characterising contract enforcement and trust mechanisms underlying contracts. Considering that trust reduces risks in economic exchange, we explain how the particular trust mechanism underlying smart contracts’ enforcement (no-party trust) provides opportunities for creating new markets and changing existing ones. We explore, among other things, whether using smart contracts could be a path to increasing the autonomy of consumers and offering a solution for democratising trade.
AB - Our study on smart contracts, self-executing agreements based on blockchain technology, can be placed in the field of inquiry within law and economics of contracts which explores new modes of contract enforcement as sources of market creation. We lay the foundations by characterising contract enforcement and trust mechanisms underlying contracts. Considering that trust reduces risks in economic exchange, we explain how the particular trust mechanism underlying smart contracts’ enforcement (no-party trust) provides opportunities for creating new markets and changing existing ones. We explore, among other things, whether using smart contracts could be a path to increasing the autonomy of consumers and offering a solution for democratising trade.
UR - https://sfx-45cbs.hosted.exlibrisgroup.com/45cbs?url_ver=Z39.88-2004&url_ctx_fmt=info:ofi/fmt:kev:mtx:ctx&ctx_enc=info:ofi/enc:UTF-8&ctx_ver=Z39.88-2004&rfr_id=info:sid/sfxit.com:azlist&sfx.ignore_date_threshold=1&rft.object_id=2670000000010426&rft.object_portfolio_id=&svc.holdings=yes&svc.fulltext=yes
U2 - 10.1017/err.2019.37
DO - 10.1017/err.2019.37
M3 - Journal article
VL - 10
SP - 245
EP - 262
JO - European Journal of Risk Regulation
JF - European Journal of Risk Regulation
SN - 1867-299X
IS - 2
ER -