The Consumer’s Right to Withdraw from Blockchain Smart Contracts Challenges and Solutions
摘要
Blockchain technology, particularly in the context of smart contracts, has revolutionized various sectors by enabling secure, decentralized, and automated transactions. However, smart contracts face significant challenges and complex legal issues, especially regarding compliance with consumer protection laws and the right to withdraw from a contract. This study aims to explore the legal landscape surrounding smart contracts and their implications for consumer rights. The findings reveal that, unlike traditional contracts, smart contracts are generally not subject to legal regulations concerning the right of withdrawal in most comparative legal systems. Moreover, the inherent programming features of these contracts often circumvent consumer protection laws, prompting legal experts to seek methods for ensuring their enforcement. The study recommends establishing flexible legal frameworks that harmonize the rigid nature of blockchain and smart contract systems with the protection of consumer rights. Such frameworks should take into account the programming rules of smart contracts while incorporating the adaptive aspects of contract law. Additionally, the study advocates for practical solutions to facilitate consumers’ right to withdraw from contracts, including the integration of “destruction keys,” the embedding of withdrawal mechanisms within smart contracts, and the implementation of regulatory measures to safeguard consumers in the digital marketplace.