Blockchain Contract Law

1.

The term "smart contract" can be traced back to at least 1995 and was proposed by the prolific interdisciplinary legal scholar Nick Szabo. He mentioned the concept of smart contract in several articles published on his website. His definition is as follows:

"a smart contract is a set of promises defined in digital form, including the agreements on which the contract participants can implement these commitments."

Let's explore the meaning of his definition in more detail

commitment

a set of commitments refers to the (often mutual) rights and obligations agreed by contract participants. These commitments define the nature and purpose of the contract. Take a sales contract as a typical example. The seller promises to deliver the goods and the buyer promises to pay a reasonable price

digital form

digital form means that contracts have to be written into computer-readable code. This is necessary, because as long as the participants reach an agreement, the rights and obligations of smart contract establishment are executed by a computer or computer network

(1) when will the parties to the smart contract reach an agreement? The answer depends on the specific smart contract implementation. Generally speaking, the contract is discovered when the parties are committed to the execution of the contract by installing the contract on the contract host platform

(2) the real meaning of "execution" also depends on implementation. Generally speaking, implementation means active implementation through technical means

(3) computer readable code

in addition, the specific "digital form" required by the contract is very dependent on the agreement that the parties agree to use

protocol

protocol is technical implementation, on this basis, the contract commitment is realized, or the contract commitment is recorded. Which agreement to choose depends on many factors, the most important of which is the nature of the assets being traded ring the performance of the contract

again, take the sales contract as an example. Suppose that the participants agree to pay in bitcoin. The chosen protocol will obviously be bitcoin protocol, on which the smart contract will be implemented. Therefore, the "digital form" that the contract must use is bitcoin scripting language. Bitcoin scripting language is a non Turing complete, imperative, stack based programming language, similar to forth

smart contract

the Xueshuo innovation blockchain Technology Workstation of Lianqiao ecation online is the only approved" blockchain technology professional "pilot workstation of" smart learning workshop 2020 Xueshuo innovation workstation "launched by the school planning, construction and Development Center of the Ministry of ecation of China. Based on providing diversified growth paths for students, the professional station promotes the reform of the training mode of the combination of professional degree research, proction, learning and research, and constructs the applied and compound talent training system

2. 1> If you have more wuxingshi, you can make money by natural synthesis of high-grade wuxingshi (the unit price of grade 6 is between 600-700g, which may be different in different areas), consume less energy, and the demand is stable< br />2> If you don't have a lot of Wuxing stones on hand, the new version of mining is OK for the time being. Zhenshan iron mine and Yutong copper mine are in demand for 80-90 forging and punching skills, as well as ingots for advanced equipment forging and enchanting. The price of each ingot is 700-900g. However, a single 90 mining specialization consumes 40 physical strength and proces 2-4 ingots each time, so it consumes a lot of physical strength. Later mining is certainly not as stable as wuxingshi market
it is suggested to find a guild to mine in zhurongshan regularly, but don't forget to leave some physical strength value to reset the .

3.

Electronic contract itself is a kind of electronic data, which has security defects such as easy to tamper and delete, which is not concive to the long-term development of the service. In order to ensure the legal effect of the electronic documents and electronic contracts signed by users on the electronic contract platform, it is necessary to deposit the whole process of electronic contract signing

in the application of "legal chain" based on blockchain certificate keeping technology, the platform will archive the key links of electronic contract signing, and store the key information and data in the whole blockchain, so as to realize the whole process of electronic contract certificate keeping

in-depth study of its implementation principle, blockchain uses cryptography algorithm, specially designed data structure and multi-party consensus algorithm to solve the consistency, reliable storage and anti tampering problems of multi-party transaction records by machine algorithm, which has a strong natural relationship with electronic data storage

First of all, the electronic contract signing records are stored in a shared account book jointly maintained by multiple parties, which can not be tampered with, denied or lost

secondly, the text and elements of the electronic contract are encrypted, including the participants of the electronic contract. Only the participants can decrypt and view the data to protect the privacy of the parties

thirdly, the machine strictly implements the pre-defined rules (smart contract), and no longer relies on a single agreement with a third party. KYC service based on blockchain automatically checks and verifies the validity and identity of certificates, and ensures the authenticity of participants' identities on the basis of privacy

< / UL >

at present, the electronic contracts signed on our electronic contract platform have realized the distributed storage of digital fingerprints of electronic documents through blockchain technology, which further strengthens the legal effect of the platform's electronic contracts

4.

The main application of blockchain in electronic cooperation is data storage. Through the deep use of cryptography algorithm, specially designed data structure and multi-party consensus algorithm, machine algorithm is used to solve the consistency, reliable storage and anti tampering problems of multi-party transaction records, which has a natural strong correlation with electronic data storage

as a leading third-party e-signing platform in China, we have been constantly polishing our procts for many years, and making a comprehensive layout of intelligence. Based on the original two core functions of real name authentication and contract signing, our E-contract SaaS proct function adds six moles: organization management, approval management, seal management, contract drafting, contract template management, notarization and certificate keeping. Earlier, we also released a number of technologies, such as handwriting recognition, fragmentation storage mechanism, printing security and anti-counterfeiting. In addition, in view of the lack of online judicial disposal channels and the different standards for determining the effectiveness of electronic evidence, we have launched a "real hammer" preservation system to achieve evidence preservation and real-time issuance of evidence, and provide more professional and efficient legal protection services while providing customers with electronic contract services

5. You must have been to the contract for a while, and how to sign it? What you gave me was information, decision and wisdom related to drama.

6. It is a good choice to invest in the blockchain project of Buka instry, which is developed by local cooperation in Bougainville Island, including five types of core businesses.

7.

If the electronic contract wants to have legal effect, it needs to lock the identity of the contracting party, keep the documents from being tampered with, and accurately record the time. For the electronic documents, it also needs to consider the security of storage

through the deep use of cryptography algorithm, specially designed data structure and multi-party participation consensus algorithm, machine algorithm is used to solve the consistency, reliable storage and anti tampering problems of multi-party transaction records, which has a natural strong correlation with electronic data storage

First of all, the electronic contract signing records are stored in a shared account book jointly maintained by multiple parties, which can not be tampered with, denied or lost

secondly, the text and elements of the electronic contract are encrypted, including the participants of the electronic contract. Only the participants can decrypt and view the data to protect the privacy of the parties

thirdly, the machine strictly implements the pre-defined rules (smart contract), and no longer relies on a single agreement with a third party. KYC service based on blockchain automatically checks and verifies the validity and identity of certificates, and ensures the authenticity of participants' identities on the basis of privacy

< / UL >

blockchain technology is popular in the market because it can rece intermediate links, rece fraud caused by data consistency, improve business efficiency and speed, rece the risk of counterparties, increase revenue and save costs

8. Electronic contract is recognized by law
for example, the contract law, the electronic signature law, the civil procere law and the civil code, which will be formally implemented on January 1, 2021, all recognize the legal effect of the electronic contract.

9.

China Commerce jointly released the regional chain E-contract process specification, which is a contract specification led by ant chain. The purpose is to specify the corresponding contract signing process in the regional chain electronic contract, and to standardize the corresponding contract content and format. As we all know, when the transaction occurs, the contract is indispensable. In our daily life, the use of the contract is very common, the signing of the contract does not need to be completely written. For many contracts, verbal contracts also exist. This is also the case. In the regional chain E-contract specification issued by China Federation of Commerce, it standardizes the process, content, format and other related elements of the regional chain E-contract, so that the contract signing in this field can be better guaranteed{ RRRRR}

for different fields, the significance of standardization is to better maintain the order in this field, so as to protect the interests of enterprises in this field