A Science-based Study of E-commerce Developments in the Blockchain Era

Authors

1 Associate Professor in Department of Law, Faculty of Administrative Sciences and Economics, University of Isfahan, Isfahan, Iran

2 M.A Student of International Law, University of Judicial Sciences and Administrative Services of Justice, Tehran, Iran

Abstract

Blockchain is a fundamental technology; that has changed the digital world. The purpose of this article
is to provide an overview of the evolution of e-commerce in the blockchain era. This article uses
reports on the development of smart contract applications in the e-commerce environment and
provides an overview of five applications including smart contracts in digital asset sales and capital
markets, smart contracts for supply chain management, and record-keeping, Smart for Government
and E-Cities, Smart Contracts for Real Estate Registration, and Smart Contracts for Empowering
Independent Identity. Moreover, it explains how blockchain has transformed the e-commerce
environment by playing a role in smart contracts.
This article examines the issue with a descriptive-analytical approach. Studies have shown that
blockchain is a distributed, decentralized and anti-invasive digital recording of transactions
(distributed general ledger) that gives contracts high credibility, trust and security features. This has
changed the world of e-commerce contracts, transactions and their storage. Thus, blockchain
credibility and trust protocols have restored some of the social contract features that were lost with the
advent of the Internet to online commerce. Smart blockchain-enabled contracts provide more security
and trust for online transactions than they have for the e-commerce environment over the past 20
years. Emerging applications of smart contracts in the e-commerce environment are subject to
completely different legal regimes

Keywords

References

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Rahyaft
Volume 30, Issue 4 - Serial Number 80
January 2021
Pages 131-142

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