Data Act and new rules on smart contracts

Over the past few years, smart contracts have become increasingly popular as a tool for automating agreements and transactions, being widely used by blockchain-based platforms and having enabled the emergence of decentralized business models and the growing field of DeFi. Despite the fact that there is no uniform regulation of smart contracts in the European Union to date, the European Commission has addressed smart contracts used for data sharing as part of its legislative proposal for the Data Act. The Data Act The Data Act is a European regulation that is part of the more general “Data Strategy,” which accompanies