Smart Contracts and Void Declarations of Intent

Among the characteristics of blockchain-based Smart Contracts, the aspect of irreversibility of blockchain transactions is one of the most controversially commented features from a legal perspective - taking into account that "traditional" contracts can be void or voidable for various reasons. But while there are indeed cases where existing private law concepts struggle to provide sound and predictable solutions to Smart Contract-induced problems, many of these controversies derive either from the use of disambiguous terminology in interdisciplinary communication, the diversity of the instrument of voidness and avoidance from a comparative perspective (and thus not the Smart Contract as such) or a general "misconception" of the irreversability of traditional forms of performance. This contribution intends to clarify where the irreversability of blockchain-based transactions does - against all odds - not make a difference compared to traditional contract law solutions, but also determines where legal conflicts indeed may arise from Smart Contracts and mistake.