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Code Is Law? The Legal Status Of Smart Contracts And Blockchain In India




Dhruv, National Law School of India University, Bangalore

Aditya Kumar Yadav, National Law School of India University, Bangalore


ABSTRACT


The rapid evolution of blockchain technology and smart contracts has challenged traditional legal systems worldwide. The principle of "Code is Law," as articulated by Lawrence Lessig, proposes that software code can regulate behavior in digital spaces much like legal rules. This paper critically examines the applicability of this principle within the Indian legal framework, focusing on the legal status of smart contracts and blockchain- based transactions. It analyses how Indian contract law, regulatory frameworks, and judicial approaches address these technologies and whether existing statutes are sufficient to govern the complexities arising from decentralized, immutable, and autonomous systems. The paper also explores the potential need for legislative reform to address ambiguities and offers suggestions for developing a more adaptive regulatory ecosystem.



Indian Journal of Law and Legal Research

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Abbreviation: IJLLR

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ISSN: 2582-8878

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Website: www.ijllr.com

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Accessibility: Open Access

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License: Creative Commons 4.0

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Submit Manuscript: Click here

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Licensing: ​

 

All research articles published in The Indian Journal of Law and Legal Research are fully open access. i.e. immediately freely available to read, download and share. Articles are published under the terms of a Creative Commons license which permits use, distribution and reproduction in any medium, provided the original work is properly cited.

 

Disclaimer:

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The opinions expressed in this publication are those of the authors. They do not purport to reflect the opinions or views of the IJLLR or its members. The designations employed in this publication and the presentation of material therein do not imply the expression of any opinion whatsoever on the part of the IJLLR.

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