Smart contracts and standard terms and conditions

Smart contracts are created through distributed ledger technology and blockchain infrastructure, consisting of self-executing computer code that becomes immutable once deployed. The study focuses on the legal nature of smart contracts, analyzing how they function, their applications on blockchain platforms such as Bitcoin and Ethereum, and their advantages, including transparency and security. In addition, the study explores practical benefits like the cost reduction potential of smart contracts, while also discussing how external data is integrated into the system through the concept of oracles. The legal implications of these innovations are also examined, with particular attention to challenges such as the self-executing nature of smart contracts, lack of flexibility, and the risk of legal non-compliance. The study also comprehensively examines the relationship between smart contracts and general terms and conditions and details how these contracts are used in different areas of legal practice (such as employment, lease, credit, sale). The new legal dimensions offered by smart contracts in terms of enforcement, interpretation and content control of general transaction terms are discussed and how these contracts can adapt to existing legal frameworks are discussed. The use of this new type of contract in areas such as consumer law is analyzed and discussed. The main purpose of our study is to determine the legal nature of smart contracts, to reveal their relationship with general transaction terms and to evaluate the possible problems that may be encountered in the process of integration of this new technology into the legal system.