Development of Contract Law Rules in the Field of Blockchain Technology

Abstract

The paper analyzes the most common models of contractual regulation of private relations with the use of blockchain technologies. The author scrutinizes the jurisprudence of the United States as a country leading in the field of implementation of the contractual models of creation, financing, development of blockchain projects. In particular the paper characterizes ICO as a model for raising funds for the creation of blockchain projects, analyzes approaches to the definition of blockchain tokens, generalizes powers of bodies carrying out control and supervisory functions in the field of financial legislation. The author explains the essence of the simple agreement for future tokens (SAFT) as one of the promising models of legal registration of an investment transaction using blockchain technology. Using comparative-legal, formal-legal, formal-logical methods, the author comes to the conclusion about the possibility of adapting advanced contractual constructions to contractual relations regulation using blockchain technologies in the Russian Federation. The paper proposes the ways of adapting traditional contractual structures, such as a license agreement and franchise agreement, in the context of the new economic opportunities of blockchain projects.