Prospects for the Development of Law Regulation of Smart Сontracts

Abstract

The article discusses the features of Law regulation of smart contracts through the prism of understanding this phenomenon as an expression of cross-border contractual relations. Despite the opinions that currently exist in science regarding the possibility of extending existing general mechanisms and methods of legal regulation of contractual relations to smart contracts, the methods developed by the doctrine of private international law to overcome the problem of choosing the applicable law in this case cannot always be applied. The article describes potential difficulties in using the principles of autonomy of the will of the parties and the closest connection and makes assumptions about the prospects for the development of legal regulation of smart contracts complicated by a foreign element.