Articles Written by Mykyta Sokolov
After dealing with tax returns at Dahl International Tax Law, he decided that his primary interest is technology. On his way to becoming international crypto/blockchain/ smart contracts lawyer. Focused on everything that is happening in the area regulation blockchain, cryptocurrency, ICOs, and smart contracts. The primary interest is financial law and law & economics.
Can a Smart Legal Contract Be Considered a Contract According to the U.S. Contract Law?
In the previous articles, I explained why it is essential for smart legal contracts to be legal contracts. This article provides an analysis of the applicability of contract law to the technology. But firstly, I need to explain the difference between external and internal smart contracts. Models of Smart Legal Contracts It is important to …
Why Smart Legal Contract Should Be a New Legal Concept Within Contract Law
In this article, I compare smart legal contracts (smart contracts that imply the creation of legal rights and obligations) to different contract law concepts, such as escrow agreements, electronic agreements, self-help and letter of credit concepts, and vending machines. I explain the common features smart legal contracts have with these concepts, and why it should …
Why Is It Crucial to Make Sure Your Smart Contract Is a Legal Contract
In this article, I explain what smart legal contracts are, and why the smart contracts tech should be within the contract law framework. Firstly, I want to be clear about what kind of smart contracts I am speaking. This technology can be used for smart records for governments or smart cities, for real estate registries, …
Lawyer’s Perspective: Why Smart Contracts Are So Important for Our Society
I assume that you, the reader, already know what smart contracts are and what they do. The main feature is that this technology is able to ensure that once certain conditions are satisfied, exchange of promises will happen automatically. In this article, I am going to explain why this function of smart contracts is crucial …