Brief: Payments. Legal Smart Contract to control rights and duties over payment and international trade without intermediaries

Alex Garcias. Legal Smart Contract
Alex Garcias – Legal Smart Contract – Blockchains

Policy Brief
Title: Payments. Legal Smart Contract
00002 | January 2020
Language: English
Alex Garcias, Dr.

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In Brief

The payment system in world trade is centralized. This means that all transactions in the international trade market need Bank and government support to control import and export duties and taxes.

The centralized system has many known issues. The high cost to import and export and the complexity of the centralized system are tariff and non-tariff barriers to world free trade.

The centralized system blocks the small and medium business owner from selling and buying in the international market. The cause is the complexity of import and export procedures.

Many intermediaries are needed to execute the complex system of international market participation. The more intermediaries, the higher the final price of the product and services.

We can use Legal Smart Contract to control rights and duties without intermediaries and reduce barriers to market access and help small, medium and large businesses.

We can build ecosystem to control rights and duties without intermediaries about the world trade payments.

Motivation for research

• Free access to the international market. Everyone, anywhere, can participate in the international market without intermediaries;
• No poverty UN goals;
• UN hunger goals;
• Reduce unemployment;
• Build a decentralized payment system;
• Using technology to improve people’s lives;

Research question

How does Legal Smart Contract control rights and duties without intermediaries over the import and export system?
How to create an international payment method to help small, medium and large companies to participate in the international market?
How to reduce bankruptcies with free access to the international market?
How can crypto-assets help the small, medium and large companies to participate of the international market in decentralized system?

Data and methodology

Literary research;

Field research:

• Build the ecosystem to test the argument;
• Data and methodology about the ecosystem informatic system in Yellow Paper;

Ecosystem. Available

https://alexgarcias.com.br/smartcontract

Research findings

If the research findings is true to:

If Legal Smart Contract can control rights and duties on international payments in the world market, Build the ecosystem to test the argument;

If Legal Smart Contract can control rights and duties on international payments in the world market and reduces the risk to participants, then Build the ecosystem to test the argument;

If Legal Smart Contract can control rights and duties on international payments in the world market and reduces cost to participants, then Build the ecosystem to test the argument;

If Legal Smart Contract can control rights and duties on international payments in the world market and reduces tariffs and non-tariffs barries, then Build the ecosystem to test the argument;

Conclusion

The Legal Smart Contract can replaces the common agreement to control rights and duties without intermediaries. The ecosystem has low cost and high benefits to allow small, medium and large companies to participate of the global market.
The ecosystem may allow access to many companies in the world that cannot now participate in the international market because they do not have the technical and financial capacity to do so.
The ecosystem can reduce poverty;
The ecosystem can reduce hunger;
The ecosystem can help isolated places and developing countries participate in the international market;

Are you interested in this project? contato@alexgarcias.com.br – subject – international payment and Legal Smart Contract.
_______________________________
Alex Garcias, Dr. Attorney – research
CEO – Alex Garcias Law Firm International

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