Smart Contracts for Businesses (SmaCoBiz)

The Smart Contracts for Businesses (SmaCoBiz) project group is dedicated to the research and development of smart contracts in business transactions. Smart contracts are automated digital agreements based on modern technologies, such as blockchain, that automatically execute pre-defined contract terms when certain events occur. The research focuses on analyzing the legal and economic framework to enable companies to use this technology safely and efficiently. It examines issues of contractual security, intellectual property, and practical applications in areas such as supply chains and corporate finance.

Led by leading scholars in the fields of law and economics, the group analyzes international legal regimes to create transnational standards for the use of smart contracts. The project emphasizes the importance of smart contracts as a central element of digitalization, as they can optimize business processes while enabling new business models. Using an interdisciplinary approach, the project group develops practical solutions that are both technically feasible and legally sustainable. In addition, concrete examples and guidelines will be developed to make it easier for companies to implement smart contracts and to provide them with legal security in the digital age.