<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The application of blockchain technology to contractual activity has led to a decrease in transaction costs, but also an enormous potential cost of judicial solutions that order reversal of the effects of smart contracts. This research addresses solutions, both from the perspective of updating the unforeseen theory and from clauses that are introduced to the legal smart contracts to allow reducing the costs associated with judicial decisions that declare an anomaly in the contracts.</p>
</abstract>

The application of blockchain technology to contractual activity has led to a decrease in transaction costs, but also an enormous potential cost of judicial solutions that order reversal of the effects of smart contracts. This research addresses solutions, both from the perspective of updating the unforeseen theory and from clauses that are introduced to the legal smart contracts to allow reducing the costs associated with judicial decisions that declare an anomaly in the contracts.

Remedies to the Irreversibility of Smart Contracts in Colombian Private Law

TalTech Journal of European Studies

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

{"article-title":"Remedies to the Irreversibility of Smart Contracts in Colombian Private Law"}

The application of blockchain technology to contractual activity has led to a decrease in transaction costs, but also an enormous potential cost of judicial...

Remedies to the Irreversibility of Smart Contracts in Colombian Private Law

Published Online: Dec 29, 2022

Page range: 113 - 145

DOI: https://doi.org/10.2478/bjes-2022-0014

Keywords
blockchain, contracts, digital enclosures, smart contracts

© 2022 José David Arenas Correa, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Remedies to the Irreversibility of Smart Contracts in Colombian Private Law

Published Online: Dec 29, 2022

Page range: 113 - 145

DOI: https://doi.org/10.2478/bjes-2022-0014

Keywordsblockchain, contracts, digital enclosures, smart contracts

© 2022 José David Arenas Correa, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
blockchain, contracts, digital enclosures, smart contracts