Blockchain Technology and Smart Contracts in terms of Law of Obligations and Data Protection Law

Blockchain technology is essentially a registry that records data in encrypted form, which is not kept by a central organization, and all information in encrypted form is shared with every participant in the system. The transactions carried out in this register are recorded in blocks, these blocks are linked to each other and each new transaction must be kept unchanged with the information of the previous transactions in order to be approved. For this reason, blockchain technology is considered to be a technology that eliminates intermediary institutions, offers equal opportunities to every participant and is almost impossible to manipulate. In particular, the digital currency, referred to as co Bitcoin, is based on this technology, but blockchain technology is not limited to this. There is no uniform appearance of the blockchain technology. Smart contracts, which provide a framework for transactions on the blockchain network, allow system participants to make many different transactions among them by simply going beyond crypto currency transactions. However, blockchain technology based on the principle that the transaction history cannot be changed and the smart contracts associated with this technology also bring many problems in terms of data protection law and law of obligations. The aim of this study is to evaluate block-chain technology in terms of our current legal order, especially in terms of data protection law and law of obligations