Smart contracts in terms of Islamic law of obligations

Blockchain technology is an important area of developing software and hardware technologies such as artificial intelligence, machine learning, and the internet of things. With blockchain technology, decentralized secure storage, verification, communication and transfer of information or value has been provided in principle and has opened the door to many applications that can be built on it. Perhaps the most important of these applications today is the smart contracts called blockchain 2.0. In this study, the blockchain technology on which smart contracts are built and the technical functioning of smart contracts in Ethereum will be explained and analyzed in terms of law of obligations. This analysis; Freedom of contract will be made in terms of Turkish Law of Obligations and Islamic Law of Obligations in particular, the establishment of the contract, the parties to the contract, the form conditions in the contracts and the willpower in the contracts. Smart contracts have the potential to be applied in many areas such as health, governance, government services, insurance. Especially banking, financial transactions, trade, Islamic Banking and Islamic Finance areas will gain priority in practice. As a result of the widespread use of smart contracts or legal regulation, the decision and fatwa of the issue in terms of Islamic Law will have to be given. In this respect, it is important to examine smart contracts in terms of law of obligations in general and contract law in particular.