kulawrKutafin Law ReviewKutafin Law Review2713-05252713-0533MSAL10.17803/2313-5395.2020.2.14.147-182kulawr-104Research ArticleAT THE FOREFRONT OF LEGAL RESEARCHThe Development of Contract Law in the Field of Blockchain TechnologiesBrisovYu. V.ceo@lfcs.proFounder of ‘Legal and Financial Creative Solutions’ Law FirmRussian Federation20202212202072147182Copyright © Brisov Y.V., 20202020Brisov Y.V.Brisov Y.V.Данная работа распространяется под лицензией Creative Commons Attribution 4.0.This work is licensed under a Creative Commons Attribution 4.0 License.https://kulawr.msal.ru/jour/article/view/104

The paper provides an overview of different legal approaches to structuring contractual relations based on blockchain technology. The author considers the USA experience of building blockchainoriented contractual relations to be cutting-edge legal solutions. The paper introduces the concept of a Simple Agreement for Future Tokens (SAFT). American investment lawyers invented this specific type of contract. SAFT shows the unique contractual solution that allows investors and inventors to form legal, contractual obligations that contradict neither American nor Russian contract law. The complexity of SAFT is also analyzed on the example of several recent blockchain projects and legal cases. The paper provides several approaches to optimizing Russian law and legal doctrine to new technological solutions. Among those are franchise, license, and loan agreements. The emphasis is made on the necessity of the implementation of new technology in the contract formation and amendment. The brief overview of COVID-19 challenges concerning the contract law doctrines of force majeure, hardship, frustration of contract are also analyzed in the scope of the paper’s central hypothesis, namely: blockchain solutions.

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The authors declare that there are no conflicts of interest present.