Category: Electronic Commerce

Smart Contracts: Building Blocks for Digital Markets by Nick Szabo-1996

Digital cash is here today, and many more smart contract mechanisms are being designed. So far the design criteria important for automating contract execution have come from disparate fields like economics and cryptography, with little cross-communication: little awareness of the technology on the one hand, and little awareness of its best business uses other. The idea of smart contracts is to recognize that these efforts are striving after common objectives, which converge on the concept of smart contracts.

Uniform Electronic Transactions Act (1999)-USA


This [Act] applies to any electronic record or electronic signature created, generated, sent, communicated, received, or stored on or after the effective date of this Act- “Transaction” means an action or set of actions occurring between two or more persons relating to the conduct of business, commercial, or governmental affairs.

Model Law on Electronic Commerce adopted by the UN Commission on International Trade Law-1996

Recalling its resolution 2205 (XXI) of 17 December 1966, by which it created the United Nations Commission on International Trade Law, with a mandate to further the progressive harmonization and unification of the law of international trade and in that respect to bear in mind the interests of all peoples, in particular those of developing countries, in the extensive development of international trade,