STUDY ON THE IMPACT OF SMART CONTRACTS AND DIGITAL SIGNATURES ON THE FINANCIAL LANDSCAPE

Spulbar Andrei Cristian
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Spulbar Andrei Cristian: EUGENIU CARADA DOCTORAL SCHOOL OF ECONOMICS SCIENCES UNIVERSITY OF CRAIOVA

Annals - Economy Series, 2023, vol. 6, 172-177

Abstract: The article examines the impact of electronic contracts on financial systems, highlighting the changes brought about by financial technologies (FinTech) through electronic contracts as well as digital signatures. The impact of FinTech also extends to markets, transforming the way businesses and institutions interact, including intraorganisational and stakeholder relationships. The article highlights the benefits of e-contracting, such as reduced costs, increased efficiency and process automation. Through FinTech, e-commerce has evolved significantly, facilitating new business models with a digital presence and improving contracting between companies and their customers. Particular attention is paid to electronic signatures, which are considered legal means of signing documents in the digital environment. The article also highlights the evolution of smart contracts, based on blockchain technology, which automate contractual processes and can be concluded without the direct involvement of the parties. Thus, a landscape is emerging in which financial technologies continue to redefine and innovate the global financial system.

Keywords: Financial technologies (FinTech); Electronic (smart) contracts; Digital signatures; eIDAS Regulation; Ecommerce (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2023:v:6:p:172-177

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