The application of digital technologies in the conditional agreements

Volgograd institute of Management of the Russian Presidential Academy of National Economy and Public Administration, Civil law Chair, Volgograd, Russia

^* Corresponding author: advance100@inbox.ru

Abstract

This article is devoted to the study of some theoretical and practical problems of concluding a conditional agreement in the form of a smart contract. The article defines and characterizes a conditional agreement and describes its differences from ordinary transactions. The author analyzes the possibility of expressing conditional agreements in the form of a smart contract, taking into account the features of setting program code, as well as features of the agreement (a condition that the special nature of the rights and obligations of the parties activity). As a result of the research, it was concluded that the conditional transaction structure is ideally suited to the elementary program code for creating a smart contract. However, the condition contained in the transaction must be strictly formalized and expressed in clear values, such as numbers. The main problems that arise when creating a smart contract are also identified: the complexity of getting data from the real world by the system, weak state control, and possible data leakage from the system. Thus, the use of digital technologies is a prospective direction for the development of conditional agreements, but this requires solving both legal and some technical problems.