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Smart Contracts and Their Implications for Conventional Contract Law Hendri Khuan; Yenni Novita Wulandari; Chak Sothy
Rechtsnormen: Journal of Law Vol. 3 No. 1 (2025)
Publisher : Yayasan Adra Karima Hubbi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70177/rjl.v3i1.2067

Abstract

Background. The rise of blockchain technology has led to the development of smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. While they promise enhanced efficiency, security, and automation, the legal implications of smart contracts on conventional contract law remain largely underexplored. The advent of these digital contracts challenges traditional legal frameworks and calls for a reassessment of existing contract law principles. Objective. This study aims to analyze the implications of smart contracts for conventional contract law, focusing on the legal, ethical, and practical challenges they present. The research seeks to evaluate how smart contracts align with or diverge from traditional contract principles such as offer, acceptance, and enforceability. Method. A qualitative research approach was employed, utilizing a comprehensive literature review and case law analysis to explore the intersection of smart contracts and conventional contract law. Interviews with legal experts and blockchain developers were also conducted to gather insights on real-world applications. Results. The findings reveal that while smart contracts offer substantial benefits in terms of automation and security, they also raise issues related to ambiguity, legal recognition, and the need for updated regulations. The study identifies a gap in existing legal frameworks regarding the enforceability of smart contracts. Conclusion. Smart contracts have significant potential to revolutionize contract law, but their integration into conventional legal systems requires substantial legal reform and adaptation. Further research is needed to establish clear regulatory standards.
Implications of Government Policy on Investment and Economic Growth Hendri Khuan; Safiullah Aziz; Amir Raza
Rechtsnormen: Journal of Law Vol. 3 No. 2 (2025)
Publisher : Yayasan Adra Karima Hubbi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70177/rjl.v3i2.2069

Abstract

Background. Government policies play a significant role in shaping the investment climate and, consequently, in driving economic growth. Policies aimed at stimulating investments such as fiscal incentives, tax policies, and infrastructure development can significantly influence the flow of capital into various sectors, fostering economic activity and job creation. Objective. This study aims to evaluate the impact of government policies on investment decisions and their subsequent effect on economic growth. The research seeks to identify the key policy factors that drive or hinder investment flows and assess their broader implications for long-term economic performance. Method. A mixed-methods approach was employed, utilizing quantitative data analysis of economic indicators and investment flows from government reports, along with qualitative interviews from business leaders and policymakers. The study examines a range of countries with varying policy environments to identify common trends and impacts. Results. The findings suggest that pro-investment policies significantly boost both domestic and foreign investment, leading to higher economic growth rates. In contrast, restrictive policies and regulatory uncertainties were found to negatively impact economic performance. Conclusion. The study concludes that effective government policies are essential for fostering investment and driving sustainable economic growth. Policymakers should prioritize creating stable, investment-friendly environments to achieve long-term economic benefits.