Smart Contracts and the Digital Single Market Through the Lens of a 'Law + Technology' Approach

Abstract

The deployment of smart contracts within the European zone could fluidify economic transactions. It also risks fragmenting the Digital Single Market (“DSM”). This conundrum calls for a constructive response to preserve both the benefits brought by smart contracts and a strong DSM.

Against this background, this report adopts a “law + technology” approach. It suggests combining law and technology to develop solutions that encourage the evolution of smart contracts (rather than hindering it) in a direction that preserves and reinforces the DSM.

Keywords: blockchain, smart contracts, digital single market, law + technology, decentralization, cryptocurrencies, cyberlaw

JEL Classification: K24, K10, K12, K23, K40, K42, G32, E51, F30, K21, K2