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USING SMART CONTRACTS IN THE FINANCIAL STOCK MARKET: AN ANALYTICAL STUDY

2024
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Thesis / Dissertation Description

Smart contracts are considered one of the latest technologies that have obtained attention from many Legalists and Engineers. Smart contracts are a set of arrangements written via programming languages through computer programs or by programmers without the need for an intermediary. Smart contracts are self-executing. It executes once the terms and conditions agreed between the parties happen. Perspectives differ among legalists about the legality of smart contracts. Some legalists consider these contracts as binding legal contracts, while others believe that a smart contract might be just a part of a traditional contract. On the other hand, some legalists question their entire legal nature. This study focuses on whether these contracts are legal and binding and the possibility of using these contracts in the UAE stock market. This study discussed the nature, characteristics, advantages, limitations, and applications of smart contracts. Moreover, this study shows the possibility of applying the general rules of contracts and obligations and some special laws on these contracts.

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