Smart Contracts: Security Issues and Further Development in Brazil (L.S. Nascimento, D.G.D. Martins, журнал "The International Journal of Law in Changing World (The IJLCW)", Volume 1, Issue 2, December 2022)

Nascimento S.N., Martins D.G.D. Smart Contracts: Security Issues and Further Development in Brazil

L.S. Nascimento Law Professor at Universidade Catlica de Braslia-Distrito Federal, Brazil

D.G.D. Martins Specialist in Cryptocurrency Law. Auditor of the Court of Sports Justice of the Anapolina Sports League TJDLAD. Lawyer specializing in contracts, business law and tax law, with experience also in civil, banking and consumer law. Cryptocurrency law researcher, with works published in the Collection of Digital Law Manuals and in the book Law and Digital Technologies The way forward, both scheduled to be released by the first half of 2023

This study aims to describe how smart contracts are made and the legal certainty of using them on business contracts. For this, the study concepted the smart contract, as well its characteristics and the difference between smart contract and e-contract. It described the legal certainty of smart contracts and how they can be used on business transactions. Besides, the research explained the importance of blockchain, ethereum and cryptocurrency in the smart contract. At last, it describes how smart contracts are applied in the legal universe and demonstrated their advantages as self-execution and clauses' immutability. For this work, bibliographic research and deductive method were used. The study concluded that the inexistence of law causes legal insecurity which represents an obstacle to spread the use of smart contracts.

Keywords: business activity, technologies, security