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ARTICLE · 03 DECEMBER 2019

Smart Contracts: A Boon Or A Bane?

K Singhania & Co
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This article provides an analysis of Smart Contracts which operate using Blockchain technology and provide an interesting alternative to Traditional Contracts.

IndiaTechnology
Alok Vajpeyi
Alok Vajpeyi
Gauri Bharti
Gauri Bharti

This article provides an analysis of Smart Contracts which operate using Blockchain technology and provide an interesting alternative to Traditional Contracts. The former dispense with the need to involve an intermediary for the purpose of enforcement, drafting and further provide for greater transparency and accountability. The latter on the other hand cannot help but mandate the need to involve an intermediary between the parties to aid them in the drafting process and enforcement process of the contract. Thus, as is evident Smart Contracts have advantages over Traditional Contracts. However, it must be borne in mind that these advantages are not without limitations of their own and have various legal issues associated with them. The authors in this article have engaged with some of these advantages and limitations and legal issues associated with Smart Contracts. In addition to this, an attempt has been made to understand the various differences between Smart

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