Thanks to automation and transparency, Smart Contracts are transforming the way in which agreements are established and fulfilled.
In this infographic you will learn about the regulatory frameworks that are being applied to this technology.
Discover them!
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Thanks to automation and transparency, Smart Contracts are transforming the way in which agreements are established and fulfilled.
In this infographic you will learn about the regulatory frameworks that are being applied to this technology.
Discover them!
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What are Smart Contracts?
Digital contracts, based on blockchain technology, that are automatically executed when certain conditions are met.
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Regulations
Although there are no specific regulations for Smart Contracts and blockchain yet, they are influenced by:
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Civil Code and Commercial Code: Smart Contracts will be valid as long as they satisfy the requirements of a traditional contract.
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GDPR (General Data Protection Regulation): it enforces the protection of confidentiality and data protection, even in automated contracts.
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EIDAS: by establishing a framework to ensure the validity of electronic signatures, it guarantees that Smart Contracts are legally recognized and valid.
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MiCA Regulation: this is a European Union regulation regarding cryptocurrencies. Aiming to create a single framework to regulate cryptocurrencies and smart contracts, it establishes standards of transparency, reliability and user protection.
Are you ready to take the next step towards Smart Contracts? Find out more information and success stories in our contents.
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