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Journal of Business Crime
Published by Generate Digital Publishing
ISSN : -     EISSN : 30904412     DOI : 10.70764/gdpu-jbc
Core Subject : Economy, Science, Social,
Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Social Sciences
JBC: Journal of Business Crime provides a venue for high-quality manuscripts dealing with economics, accounting, and compliance in its broadest sense. The editorial board encourages manuscripts that are international in scope, articles that are perceptive, evidence-based, and have a policy impact. however, readers can also find papers investigating domestic issues with global relevance. JBC is published by the Publishing Company "Generate Digital Publishing". JBC is an open access journal which means that all contents is freely available without charge to the user or his/her institution. The scope of this journal includes empirical and theoretical articles related to economics, accounting, criminology, criminal justice, control, prevention of financial crime and related abuse.
Arjuna Subject : Umum - Umum
Articles 1 Documents
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Search results for , issue "vol. 2 no. 2 (2026)" : 1 Documents clear
The Illusion of Trustless Compliance: Code, Coercion and Business-Crime Vulnerabilities in Smart Contracting Christopher Hamerton
Journal of Business Crime Vol. 2 No. 2 (2026)
Publisher : Generate Digital Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70764/gdpu-jbc.2026.2(2)-01

Abstract

Objective: This article interrogates the claim that smart contracts enable ‘trustless compliance’ in international commerce, arguing that blockchain automation relocates trust rather than eliminates it, and that the resulting governance, liability, and criminogenic conditions demand sustained legal engagement.Research Design & Methods: A qualitative, doctrinal, and interdisciplinary methodology combines socio-legal analysis, an adapted Cressey's Fraud Triangle supplemented by Routine Activity Theory, and illustrative case analysis. Doctrinal review covers the UNCITRAL Model Law on Automated Contracting, the ELI Principles on Blockchain Technology, Smart Contracts and Consumer Protection, FATF virtual-asset standards, and the UNIDROIT Principles on Digital Assets and Private Law. Illustrative cases include the 2016 DAO incident, the Aragon governance dispute, oracle manipulation exploits, and flash-loan attacks.Findings: Three emerge. First, immutable execution supplants contextual doctrines (good faith, frustration, unconscionability, proportionality) through which contract law absorbs uncertainty, producing rigidity where judicial flexibility is most needed. Second, the adapted Fraud Triangle and Routine Activity Theory show that algorithmic opportunity, intensified pressure in continuously operating markets, weakened guardianship, and the rationalisation that ‘code is law’ reorganise rather than remove the conditions for business and financial offending. Third, recent international instruments reaffirm that automation changes only the means by which obligations are performed, not the principles by which responsibility is allocated.Implications: The article proposes a shift from trustlessness towards a legally embedded framework incorporating human-in-the-loop governance, technology-neutral attribution of liability to commercial beneficiaries, transparent oracle oversight, and internationally harmonised standards.Contribution & Value Added: This research explains how smart contracts impact trust in global commercial transactions, highlighting the need for human oversight and clear accountability.

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