Self-executing Contracts from the perspective of the selected Polish regulations and the future potential prevalence of ‘Smarter’ Contracts

• Main Author: Rafał Prabucki
• Format: Article
• Language: English
• Published: The British Blockchain Association
• Series: The Journal of The British Blockchain Association
• Online Access: http://jbba.scholasticahq.com/article/12720-self-executing-contracts-from-the-perspective-of-the-selected-polish-regulations-and-the-future-potential-prevalence-of-smarter-contracts.pdf

For some time now, blockchain technology has been used for many purposes all over the world. The question arises – how do we regulate proving facts in a dispute between agreement parties when they use self-executing contracts? The answer to this question is explored in this research in the context of civil issues. Furthermore, the Polish law has introduced a new tool in the form of a ‘contract of evidence’ (similar to the parol evidence rule) which may increase the popularity of smart contracts. The research methodology is based on the analysis of the two existing regulations from the Civil Procedure Code and the Commercial Code. Moreover, legal scientific studies that indicate the risks associated with using self-executing contracts in such a way will be analysed. All efforts have been taken to obtain conclusions regarding the future of this type of solution in Poland and Polish smart cities.