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Alexandros A. Papantoniou
Published: Dec. 20, 2020
This essay examines whether smart contract innovation is capable of displacing the orthodox adherence to traditional contracts. This examination is underpinned by an analysis of the legality of smart contracts, through which it is exemplified that smart contracts ought to be considered legally binding instruments. The essay proceeds to explore the superiority of smart contracting on a technical and theoretical basis. The advantages generated through smart contract automaticity and enforceability present a concrete basis for undermining reliance on traditional contracts. Blockchain Technology also enhances the benefits of smart contracts by acting as a smart contract enabler through guaranteed performance and …
Aleksander N. Kozyrin
Published: Nov. 4, 2020
The rapid development of information technologies and digitalization of the global economy is compelling the Russian customs service to quickly create an electronic customs system that can coexist alongside the traditional paper customs control. The creation of electronic customs aligns with the development strategies outlined in Presidential Decree No. 204 “On national goals and strategic development tasks of the Russian Federation through 2024” of 7 May 2018. Electronic customs contributes to the development of international cooperation, exports, and an attractive investment climate. The first results of electronic customs are impressive: more than a third of all customs declarations are registered …