E-commerce using blockchain technologies
Introduction. The article analyzes the practice of using blockchain technologies for commercial activities in the Russian Federation. Currently, in the Russian Federation, two main directions of such commerce can be distinguished: conclusion and execution of smart contracts; implementation of transa...
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| Format: | Article |
| Language: | English |
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Saratov State University
2023-03-01
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| Series: | Известия Саратовского университета. Новая серия: Серия «Экономика. Управление. Право» |
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| Online Access: | https://eup.sgu.ru/sites/eup.sgu.ru/files/2023/02/ekonomika_2023_1-112-117.pdf |
| _version_ | 1828001991609024512 |
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| author | Khramushin, Vitaliy V. |
| author_facet | Khramushin, Vitaliy V. |
| author_sort | Khramushin, Vitaliy V. |
| collection | DOAJ |
| description | Introduction. The article analyzes the practice of using blockchain technologies for commercial activities in the Russian Federation. Currently, in the Russian Federation, two main directions of such commerce can be distinguished: conclusion and execution of smart contracts; implementation of transactions with cryptocurrencies. Theoretical analysis. Nowadays, the Russian legislation hardly regulates the conclusion of smart contracts. However, this does not prevent entrepreneurs from using some general provisions of the Civil Code in their practical activities. As for cryptocurrencies (digital currencies), they are not currencies in the literal sense and the number of transactions with them is significantly limited by the legislator. Empirical analysis. Gaps in domestic legislation are currently being filled to some extent by court practice, primarily arbitration. In particular, the courts clearly qualify the cryptocurrency mining activity as entrepreneurial. As for investing financial resources in cryptocurrencies, it is regarded as a form of fiduciary management. Results. At this stage, it is necessary to recognise digital currencies as assets not only for certain purposes, but for a wider range of relationships. As far as smart contracts are concerned, an important problem is the problem of understanding its meaning and content by all its parties. To solve this problem, it is necessary to introduce a rule in the national civil legislation according to which a smart contract should have a text with all its terms in Russian (or in any other language acceptable to both parties). |
| first_indexed | 2024-04-10T06:37:11Z |
| format | Article |
| id | doaj.art-3eb7c9a10d6e418da08af18c00f0f212 |
| institution | Directory Open Access Journal |
| issn | 1994-2540 2542-1956 |
| language | English |
| last_indexed | 2024-04-10T06:37:11Z |
| publishDate | 2023-03-01 |
| publisher | Saratov State University |
| record_format | Article |
| series | Известия Саратовского университета. Новая серия: Серия «Экономика. Управление. Право» |
| spelling | doaj.art-3eb7c9a10d6e418da08af18c00f0f2122023-02-28T17:04:22ZengSaratov State UniversityИзвестия Саратовского университета. Новая серия: Серия «Экономика. Управление. Право»1994-25402542-19562023-03-0123111211710.18500/1994-2540-2023-23-1-112-117E-commerce using blockchain technologiesKhramushin, Vitaliy V.0https://orcid.org/0000-0001-6461-7796Plekhanov Russian University of Economics, 36 Stremyannyi Lane, Moscow 117997, RussiaIntroduction. The article analyzes the practice of using blockchain technologies for commercial activities in the Russian Federation. Currently, in the Russian Federation, two main directions of such commerce can be distinguished: conclusion and execution of smart contracts; implementation of transactions with cryptocurrencies. Theoretical analysis. Nowadays, the Russian legislation hardly regulates the conclusion of smart contracts. However, this does not prevent entrepreneurs from using some general provisions of the Civil Code in their practical activities. As for cryptocurrencies (digital currencies), they are not currencies in the literal sense and the number of transactions with them is significantly limited by the legislator. Empirical analysis. Gaps in domestic legislation are currently being filled to some extent by court practice, primarily arbitration. In particular, the courts clearly qualify the cryptocurrency mining activity as entrepreneurial. As for investing financial resources in cryptocurrencies, it is regarded as a form of fiduciary management. Results. At this stage, it is necessary to recognise digital currencies as assets not only for certain purposes, but for a wider range of relationships. As far as smart contracts are concerned, an important problem is the problem of understanding its meaning and content by all its parties. To solve this problem, it is necessary to introduce a rule in the national civil legislation according to which a smart contract should have a text with all its terms in Russian (or in any other language acceptable to both parties).https://eup.sgu.ru/sites/eup.sgu.ru/files/2023/02/ekonomika_2023_1-112-117.pdfe-commercesmart contractscryptocurrenciesdigital currenciesbusiness activities |
| spellingShingle | Khramushin, Vitaliy V. E-commerce using blockchain technologies Известия Саратовского университета. Новая серия: Серия «Экономика. Управление. Право» e-commerce smart contracts cryptocurrencies digital currencies business activities |
| title | E-commerce using blockchain technologies |
| title_full | E-commerce using blockchain technologies |
| title_fullStr | E-commerce using blockchain technologies |
| title_full_unstemmed | E-commerce using blockchain technologies |
| title_short | E-commerce using blockchain technologies |
| title_sort | e commerce using blockchain technologies |
| topic | e-commerce smart contracts cryptocurrencies digital currencies business activities |
| url | https://eup.sgu.ru/sites/eup.sgu.ru/files/2023/02/ekonomika_2023_1-112-117.pdf |
| work_keys_str_mv | AT khramushinvitaliyv ecommerceusingblockchaintechnologies |