Contracts are the main instrument that drives the global economy. People have already been using contracts as they are known to modern society for thousands of years. Owning to centuries-old endeavours of the citizens of Mesopotamia, Greek philosophers and Roman lawyers, the generally accepted rules for formatting contracts are created, namely, written contracts that establish grounds on which today’s modern society formats all of its economy and legal relationships. Scientifically observed, there are no legal areas that do not use contracts, however, they are given the utmost attention in the context of civil and commercial law. Owning to the rapid change that is taking place in this information-communication era, people can witness an infinite number of technological achievements and innovations that have not been lacking in the field of contracts as well. The spread of digital technology and the creation of digital markets have made it possible for contracts to be concluded electronically to the same extent. Services such as online shopping, mobile banking, social networks, cryptocurrencies or similar digital trends are simultaneously enabled and made popular by the advent of the Internet. However, the network of computers and other smart devices has resulted in the transformation of lifestyle but the acceleration of the pace of living as well. Nowadays, the goal of everything is to happen exceptionally fast without many obstacles (whenever it is possible) employing the Internet, regardless it is about simple contract formation, distance studying or working. Although the idea of smart contracts would be meaningless and impossible without the Internet, it occurred long before the commercialisation of the Internet. It is about the encrypted, namely codeprotected contacts designed in digital form and which are executed completely independently and automated on an especially designed platform within the computer system employing computer codes, without the need for central authority and the possibility for human manipulation. Thus, smart contracts, unlike traditional written agreements, are characterised by automated execution, which means that after it has been concluded there is no possibility of cancellation or possible change.