Jusletter IT

This is a research conducted on the latest developments in the blockchain technology, which have established smart contracts as a standard form of legal manifestation of business communication. Commercial transactions in B2B environment require stable, predictable and reliable payment mechanism that could enable on-time and full-scale execution of obligations. Successful implementation of payment mechanism that is based on Distributed Ledger Technology (DLT) into smart contracts stands as the next step for final breakthrough of this technology into regular use. The research from this paper is focusing on legal implications of actual technical solutions which could allow self-executing, self-enforcing, and self-remedying of smart contracts.