LEGAL IMPLICATIONS OF SMART CONTRACTS IN INTERNATIONAL COMMERCIAL LAW

Abstract

Smart contracts—self-executing agreements encoded on blockchain—have emerged as transformative tools in international commercial transactions. By automating performance and reducing reliance on intermediaries, they promise efficiency, transparency, and reduced transaction costs. However, their integration into international commercial law presents complex legal challenges, particularly regarding enforceability, jurisdiction, consumer protection, and dispute resolution. This article examines the legal implications of smart contracts within international commercial law, analyzing their compatibility with traditional contract doctrines and international instruments such as the United Nations Convention on Contracts for the International Sale of Goods (CISG). It further explores comparative regulatory approaches, highlighting the need for harmonized legal frameworks to balance innovation with legal certainty.