Application of Smart Legal contracts in Peruvian Civil Law in Electronic Contracting

Abstract

In the Peruvian context, smart contracts, facilitated by blockchain technology, face a specific regulatory gap, since current legislation does not directly address their validity and execution. The adaptability of the legal framework could allow its implementation, but clearer regulation is required to guarantee its legal recognition. As for the Treaty of Rome I, which regulates the law applicable to smart contracts, it does not specifically address blockchain technology, leaving a gap regarding its legal treatment. The need to update legal frameworks to address these technological advances is crucial to guarantee legal certainty and encourage the adoption of these innovations in the contractual field. It is worth mentioning that economic and technological factors and the cultural acceptance of blockchain technology, around the maturity of the business environment and technological evolution, impact the formation of legal frameworks. Regulatory adaptation to these contracts is crucial to reap economic benefits and foster confidence in their implementation, balancing innovation with legal protection.