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Aura-Elena Amironesei: Blockchain Technology in the Performance of Online Advertising Contracts


Abstract: The contractual relationships in virtual space have acquired a new dimension which is inevitably marked by the unprecedented technological advance. The new technologies tend to replace the human input in the execution of contracts, especially the ones involving a virtual performance, preventing human errors and frauds. Online advertising contracts do not stand as an exception from breaches of contract, neither from digital types of fraud. In this context, the new technologies, especially the blockchain technology, appear to be a solution for the full performance of the contractual terms that are embedded in a smart contract. The traditional contractual elements are transposed into lines of code which become the law of the parties in online advertising, and cryptocurrencies along with tokens become a replacement for the traditional price paid in money.

Keywords: international trade; commercial advertising; smart contracts; blockchain

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