Una aplicación jurídica del «Blockchain»: los «Smart Contracts»

Just as the Internet of Information has already shaped social and economic life, the «new Internet of Value», built on the new «Blockchain» structure and intelligent contracts, will become part of the activity of people, companies and Public Administrations . This study analyzes the concept and reality of the so-called Block-chain, as well as its operation, with particular attention to the general description of Blockchain operations, in order to better understand its various implications and the way in which it affects the It interests people and entities. One of the areas in which the Blockchain has aroused considerable interest is the legal one. Therefore, among the various legal applications of Blockchain, smart contracts deserve a more detailed analysis, based on their own concept and by understanding the evolution of traditional to «intelligent contracting». In this sense, it is eloquent to address the operation of such smart contracts, to then assess their additional functions, the various current and possible uses of smart contracts, as well as the inherent benefits of this new way of understanding intelligent contracting. In our opinion, the «smart contracts» of great potential for the private sector have greater repercussions and legal implications in the Public Administration, with a progressive substitution and improvement of the traditional procedures by intelligent procedures, with innovation and efficiency, in addition to the wide benefit, that this could behave in general. Likewise, in those legal spaces in which the communication and legal relationship between two or more parties, whether they are living physical persons or machines, intelligent contracts can improve and enhance greater veracity, safety, speed and reduction of temporary and economic costs, with the undoubted advantages that this would entail for individuals such as companies and public administrations.