Consumer Protection under Smart Contracts:Risks and Resolutions
Some consumer rights in B2C contracts are time-sensitive in that sense that they must be provided within a specific time period.The self-executing nature and inflexibility of smart contracts increase the risk of,or even conflict with these rights.These rights,however,reflect fundamental values of consumer protection law and should be prioritized even in the context of smart contracts.In order to be able to exercise these rights in due time,time-sensitive rights must operate in a special way.In addition to legislating for specific new rules,they can also be regulated in the short term through existing rules.Regulators also needed to perform enforcement functions and should make appropriate use of emerging technologies.