Freedom to Contract and Democracy in the Age of Blockchain and Smart Contracts

Abstract

Blockchain is a disruptive technology whose impact can be felt within the international community and national societies. According to some scholars, blockchain technology will soon substitute or compete with the law of sovereign states. Within the said framework, our chapter aims to scrutinize whether and how blockchain technology can truly democratize relationships for private users. Reference will be made to the new blockchain-based platforms, such as the CmaaS, and the case of smart contracts. The aim is to understand whether the said tools, will enhance exercising contractual freedom and the democratic processes within the blockchain.