Smart Contracts, the new augmented contracts?

Summary However much attention is paid to the design phase, the entire balance of a contract can be called into question by the poor execution (voluntary or by negligence) of its clauses, so conscientiously negotiated. This risk is proportional to the flexibility that can be used to contract (framework contracts are certainly among the worst off) and is increased when the initial balance is already fragile (in terms of licenses associated with the use of a technology, the execution sometimes differs so much from the contractual framework that one often wonders if the actual contract is not in a gray area halfway between what was written and the actual usage). With Blockchain technology and Smart Contracts, a technical answer seems to be emerging to reconcile the parties to the contract, their advisors who assist them and those who ensure the implementation of these commitments. Particularly developed on Ethereum 1 , Smart Contracts are software programs executed in a decentralized manner on the Blockchain, whose functionalities are triggered by the fulfillment of predefined conditions (which may have their origins in a classic contract). Benefiting from the strengths of the blockchain, which are the inalterability and verifiability of transactions, they are of great interest in the context of future contractual relations between individuals and, even more so, through interposed objects: Bruno's connected car will "contract" directly with Joseph's phone to benefit from his music subscription or - perhaps - with Sandra's car, which will lend him extra energy. With the democratization of the IoT (Internet of Things) and since we must remember that all everyday acts hide contracts, it is our entire future that could be a gigantic testing ground for the potential of Blockchain technology and Smart Contracts by automating contractual relationships to the extreme and creating increasingly horizontal products and services.