This paper examines the legal qualification of Smart Contracts under Swiss law and gives an overview over how Smart Contracts may interact with the fundamental rules of contract law. Furthermore, on the basis of this examination the need for legislative action with respect to Smart Contracts will be assessed.
It is concluded that the potential applications of Smart Contracts on the blockchain are vast and sound very promising. If applied in a sensible way this technology indubitably will lead to gains in efficiency of contract execution and lower transaction costs.
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