Examining Smart Contracts Within Mauritian Contract Law: Assessing Their Compatibility with Existing Legal Frameworks
摘要
This research paper explores the complexities surrounding smart contracts, computer code designed to automate contractual processes, thus bypassing the need for intermediary enforcement. As smart contracts gain traction, jurisdictions worldwide grapple with regulating them. Challenges arise from the novel nature of these contracts, as their enforcement poses unique dilemmas within legal frameworks. While some believe regulation is feasible, others question the enforceability of code-based agreements. Mauritius, aspiring to be Africa’s Fintech hub, is addressing these issues through the Virtual Asset and Initial Token Offering Services Act 2021. However, uncertainties persist regarding the enforceability of smart contracts. This research examines smart contracts comprehensively, exploring technical and legal dimensions to unravel their complexity. It scrutinises Mauritius’ legal landscape to ascertain the compatibility of smart contracts with existing contract laws and the effectiveness of the 2021 Act in regulating them.