Abstract

This paper examines the relationship between traditional contracting and smart contracts, aiming to identify key differences and similarities. The study utilizes a comparative analysis method, reviewing legal frameworks, conceptual definitions, and practical applications of both contract types. Traditional contracts, governed by civil and commercial codes, rely on written agreements and human intermediaries. In contrast, smart contracts, executed through blockchain technology, automate contractual obligations without intermediaries. Key findings reveal that while traditional contracts offer flexibility and human oversight, smart contracts provide increased efficiency, security, and cost-effectiveness. However, smart contracts face challenges in legal recognition and error handling. This comparative analysis underscores the need for a robust legal framework to integrate smart contracts into existing legal systems, ensuring their reliability and broader acceptance.

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