Abstract Blockchain-based smart contracts have triggered polarised discussions. They have been applauded as a significant technological achievement, but also criticised as a dumb idea. Their application is rapidly expanding in the financial sector, public sector, supply chain management, and the automobile, real estate, insurance, and health care industries. With the growing use of smart contracts and an increasing variety of smart contracts applications, the debate over the legal implications of this phenomenon has intensified and many legal issues related to smart contracts are being examined. Legal scholars have highlighted potential legal pitfalls, controversies and incompatibilities with existing legal frameworks. Blockchain technology and smart contracts have also been fuelling an interest of legislators, who have begun to recognise regulatory uncertainties and are making the first attempts to introduce legislative solutions to address them. This paper aims to highlight the fervour of the scholarly debate surrounding smart contracts and contrast it with a rather modest response from the legislators thus far. The paper reiterates that smart contracts represent the future. Even though they challenge practitioners, scholars, and legislators, current legislative initiatives indicate that under most legal systems there are no major obstacles for smart contracts and to accommodate smart contracts within the existing legal frameworks we should expect legal evolution rather than revolution.

中文翻译：

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监管智能合约：法律革命还是简单的进化？

摘要 基于区块链的智能合约引发了两极分化的讨论。它们被称赞为一项重大的技术成就，但也被批评为一个愚蠢的想法。它们的应用正在金融部门、公共部门、供应链管理以及汽车、房地产、保险和医疗保健行业迅速扩展。随着智能合约的使用越来越多，智能合约应用的种类越来越多，关于这种现象的法律影响的争论愈演愈烈，许多与智能合约相关的法律问题正在被研究。法律学者强调了潜在的法律陷阱、争议和与现有法律框架的不兼容。区块链技术和智能合约也引起了立法者的兴趣，他们已经开始认识到监管的不确定性，并正在首次尝试引入立法解决方案来解决这些问题。本文旨在突出围绕智能合约的学术辩论的热情，并将其与迄今为止立法者的相当温和的反应进行对比。该论文重申智能合约代表未来。尽管它们挑战了从业者、学者和立法者，但当前的立法举措表明，在大多数法律体系下，智能合约没有重大障碍，并且在现有法律框架内适应智能合约，我们应该期待法律演变而不是革命。本文旨在突出围绕智能合约的学术辩论的热情，并将其与迄今为止立法者的相当温和的反应进行对比。该论文重申智能合约代表未来。尽管它们挑战了从业者、学者和立法者，但当前的立法举措表明，在大多数法律体系下，智能合约没有重大障碍，并且在现有法律框架内适应智能合约，我们应该期待法律演变而不是革命。本文旨在突出围绕智能合约的学术辩论的热情，并将其与迄今为止立法者的相当温和的反应进行对比。该论文重申智能合约代表未来。尽管它们挑战了从业者、学者和立法者，但当前的立法举措表明，在大多数法律体系下，智能合约没有重大障碍，并且在现有法律框架内适应智能合约，我们应该期待法律演变而不是革命。