For EU regulation, please visit Europe: Can Smart Contracts be Nullified?.
Although there is no official statement on smart contracts in Sweden presently on offer, the Swedish government is currently using smart contracts in a real estate land registries project. As Sweden has not yet defined smart contracts, please see the EU section since EU law applies.
Literature on smart contracts currently lacks a discussion of the legal implications nullification and immutability, especially of those use cases that are unrelated to contract law. As a general note, despite certain advantages of smart contracts, they are not free from disputes arising in relation to their performance. Given the lack of a central enforcement agency and established precedent, it is difficult to predict with certainty how such issues will be dealt with and resolved. It is therefore advisable that parties include a dispute resolution or arbitration clause when contracting via a smart contract.
|Previous Section||Next Section|