Legal Framework of Smart Contracts Integrated in Block Chain Technology "Comparative Descriptive Analytical Study" in Light of the Saudi Civil Transactions System / الإطار القانوني للعقود الذكية المدمجة عبر تقنية البلوك تشين دراسة وصفية تحليلية مقارنة في ضوء نظام المعاملات المدنية السعودي
الخولي, . (2024). Legal Framework of Smart Contracts Integrated in Block Chain Technology "Comparative Descriptive Analytical Study" in Light of the Saudi Civil Transactions System / الإطار القانوني للعقود الذكية المدمجة عبر تقنية البلوك تشين دراسة وصفية تحليلية مقارنة في ضوء نظام المعاملات المدنية السعودي. EKB Journal Management System, 36(44), 87-146. doi: 10.21608/jlr.2024.259033.1367
احمد محمد فتحي الخولي الخولي. "Legal Framework of Smart Contracts Integrated in Block Chain Technology "Comparative Descriptive Analytical Study" in Light of the Saudi Civil Transactions System / الإطار القانوني للعقود الذكية المدمجة عبر تقنية البلوك تشين دراسة وصفية تحليلية مقارنة في ضوء نظام المعاملات المدنية السعودي". EKB Journal Management System, 36, 44, 2024, 87-146. doi: 10.21608/jlr.2024.259033.1367
الخولي, . (2024). 'Legal Framework of Smart Contracts Integrated in Block Chain Technology "Comparative Descriptive Analytical Study" in Light of the Saudi Civil Transactions System / الإطار القانوني للعقود الذكية المدمجة عبر تقنية البلوك تشين دراسة وصفية تحليلية مقارنة في ضوء نظام المعاملات المدنية السعودي', EKB Journal Management System, 36(44), pp. 87-146. doi: 10.21608/jlr.2024.259033.1367
الخولي, . Legal Framework of Smart Contracts Integrated in Block Chain Technology "Comparative Descriptive Analytical Study" in Light of the Saudi Civil Transactions System / الإطار القانوني للعقود الذكية المدمجة عبر تقنية البلوك تشين دراسة وصفية تحليلية مقارنة في ضوء نظام المعاملات المدنية السعودي. EKB Journal Management System, 2024; 36(44): 87-146. doi: 10.21608/jlr.2024.259033.1367

Legal Framework of Smart Contracts Integrated in Block Chain Technology "Comparative Descriptive Analytical Study" in Light of the Saudi Civil Transactions System / الإطار القانوني للعقود الذكية المدمجة عبر تقنية البلوك تشين دراسة وصفية تحليلية مقارنة في ضوء نظام المعاملات المدنية السعودي

مجلة البحوث الفقهية والقانونية
Article 3, Volume 36, Issue 44, January 2024, Page 87-146  XML PDF (957.16 K)
Document Type: المقالة الأصلية
DOI: 10.21608/jlr.2024.259033.1367
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Author
احمد محمد فتحي الخولي الخولي email
AMUOT KOTOR TANTA, KOTOR
Abstract
Through this study, we discussed the legal framework of smart contracts integrated with blockchain technology. We clarified that blockchain technology, among various technologies, has elevated the trust and credibility of smart contracts to significant levels. This technology is distinguished by unique advantages that enhance the current conditions in smart contracts, where the role of the parties is limited to approving or disapproving the contractual terms without any interference or modification.
In the context of our study, we explained the nature of blockchain technology, highlighting its features and drawbacks. Subsequently, we provided an elucidation of smart contracts, defining them and outlining their key characteristics. We addressed the legal challenges facing smart contracts due to their use of the internet and blockchain technology, in comparison to traditional contracts. Additionally, we highlighted the regulatory stance in the Kingdom of Saudi Arabia regarding this technology, including its position on smart contracts, referencing the newly enacted Saudi Civil Transactions System.
 
من خلال هذه الدراسة، ناقشنا الإطار القانوني للعقود الذكية المدمجة في تقنية البلوكشين. ووضحنا أن تقنية البلوكشين، من بين التقنيات التي قد  رفعت مستوى الثقة والمصداقية في العقود الذكية إلى مستويات كبيرة تتميز هذه التكنولوجيا بمزايا فريدة تعزز الظروف الحالية في العقود الذكية، حيث يكون دور الأطراف مقتصرًا على الموافقة أو عدم الموافقة على علي شروط التعاقد دون أي تدخل أو تعديل
في سياق دراستنا، شرحنا طبيعة تقنية البلوكشين، وأبرزنا مميزاتها وعيوبها. بعد ذلك، قدمنا توضيحًا للعقود الذكية، مع تعريفها وسرد سماتها الرئيسية. وتناولنا التحديات القانونية التي تواجه العقود الذكية بسبب استخدامها للإنترنت وتقنية البلوك تشين، بالمقارنة مع العقود التقليدية. بالإضافة إلى ذلك، أبرزنا الموقف التنظيمي في المملكة العربية السعودية تجاه هذه التكنولوجيا، بما في ذلك موقفها من العقود الذكية، وذلك بالإشارة إلى نظام المعاملات المدنية السعودي الجديد
Keywords
Blockchain -Smart Contracts؛ -Automated Contract Execution-؛ Legal Challenges in Smart Contracts / تقنية البلوكشين العقود الذكية; التنفيذ التلقائي للعقود; التحديات القانونية في العقود الذكية
References

References

  1. Abu Lail, Ibrahim El-Desouky (2020). Smart Contracts and Artificial Intelligence, and Their Role in Automating Contracts and Legal Transactions. Journal of Law, Scientific Publishing Council, Kuwait University, Volume 44, Issue 4.
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  6. Al-Jaroudi, A., & Altounjy, R. (2021). The Legal Challenges of Blockchain and Cryptocurrency in Saudi Arabia. Journal of Legal, Ethical and Regulatory Issues, 24(3), 1-15.
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8.1: French References

  1. Ancel, B. (2018). Les smart contracts: révolution sociétale ou nouvelle boîte de Pandore? Regard comparatiste. Communication - Commerce Électronique, (78), Juillet-Août. Lexisnexis.
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  3. Douville, T. (2018). Blockchain et tiers de confiance: incompatibilité ou complémentarité. Recueil Dalloz.
  4. Guerlain, G. (2017). Le smart contrat est un programme informatique dont la fonction consiste à former, exécuter ou éteindre automatiquement un contrat qui, en toute hypothèse, ne se confond pas avec lui. Dalloz IP/IT, p. 512.
  5. Jean, B., & de Filippi, P. (2016). Les Smart Contracts, les nouveaux contrats augmentés ?. Conseils et Entreprises.
  6. Marique, E. (2019, Janv.). Les Smart Contracts en Belgique: une destruction utopique du besoin de confiance. Dalloz IP/IT. Paris.
  7. Mekki, M. (2018). Le contrat, objet des smart contracts (Partie 1). Dalloz IP/IT. Paris.
  8. Mekki, M. (2019, Janv.). Le contrat, objet des smart contracts (Partie 2). Dalloz IP/IT. Paris.
  9. Moreau, Y. (2016). Enjeux de la technologie de Blockchain. Recueil Dalloz, Paris.
  10. Rabesandratana, V., & Bacca, N. (2017, Août). L’Oracle hardware: la couche de confiance entre les Blockchain et le monde physique. Réalités Industrielles.
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  12. Toledano, J. (2018, Juin). Les enjeux des blockchains. France Stratégie. Retrieved from vie-publique.fr

8.2: The legal systems and legislations

1- The Saudi Electronic Transactions System was issued by Royal Decree No. M/18 on 8/3/1428, and Ministerial Council Resolution No. 80 on 7/3/1428.

2- The Saudi Civil Transactions System issued by Royal Decree No. M/191 on the 1st of Dhu al-Hijjah 1444.

3- United Nations Commission on International Trade Law (UNCITRAL) Model Law on Electronic Commerce (1996)"

4-The French Civil Code was first enacted in 1804.

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