Smart contracts have received significant attention from legal academics and attorneys for the impact they may have on contract law and the role of lawyers. Some have also identified and described a series of use cases for smart contracts. However, the literature currently lacks a discussion of the legal implications of those use cases that are unrelated to contract law. To fill that gap, this white paper offers an initial analysis of the legal aspects of five prominent smart contract use cases: digital asset sales and capital markets, supply chain management, smart government records and smart cities, real estate land registries, and self-sovereign identity. We conclude that legal risk is inherent in each of these subject areas, but that with careful risk mitigation planning, companies can overcome those hurdles to offer effective products and services.

Download Legal Aspects of Smart Contract Applications.