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Document Type

Article

Media Type

Text

Abstract

While technologies evolve, international laws with ancient roots must be updated, in order to better suit the needs of a modern world. One new technology, which has sent shockwaves into international and domestic law, is blockchain and its applicability to many facets of domestic and international business. This Comment analyzes how the letters of credit and international sales transactions would be impacted if the Uniform Customs and Practices published by the International Chamber of Commerce were to adopt blockchain technology. More specifically, the Comment analyzes how smart contracts would instill the same amount of trust on both sides of a transaction as would a letter of credit.

First Page

486

Last Page

512

Publication Date

7-1-2019

Department

College of Law

ISSN

0734-1490

Language

eng

Publisher

Northern Illinois University Law Review

Included in

Law Commons

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