The Rules governing Smart Contracts in Islamic Jurisprudence and Positive Law

Smart contracts are computer transaction protocols to enforce contract terms. There are two objectives for smart contracts; one that satisfies the usual terms of the contract such as terms and conditions of payments, the maintenance of confidentiality and completion of the contract, and the other one to minimize random and intentional exceptions and the need for trusted intermediaries. Smart contracts in their internal mode are merely programmed codes that are created to facilitate the original contracts and so they are not contracts but in the external model, they are agreements that are implicitly included in the original contracts and there are contracts. The contracts in the external model are binding pursuant to the article 10 of the Iranian Civil Code and also the powers to cancel the contracts are executed to them. However, some types of these powers such as delay in payment are not possible due to the nature of the contract. Nowadays, smart contracts have many obstetrical along the way of which one of the main issues that we can name is privacy in contracts.