Blockchain and Smart Contracts as Complex Self-Organizing Frameworks: Theoretical Perspective

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Neyole Misko
Neyole Misko
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Dr. Rono Kipronoh
Dr. Rono Kipronoh Director Programmes and Standards
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Dr. Muchelule Yusuf
Dr. Muchelule Yusuf

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GJCST Volume 22 Issue E2

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Blockchain offers unprecedented opportunities for innovation in financial transactions with a whole new world of opportunities for banking, lending, insurance, and money transfers. Through its algorithms, digital security by decentralization, form smart contracts. Smart contracts allow the performance of credible transactions without third parties, the transactions premised by trackable and irreversible processes are superior to traditional contract law and greatly reduce other transaction costs associated with contracting. Globally, enterprises are undergoing a major transformation towards smart businesses that use intelligent systems integrated into planning for their daily routine. Blockchain technology and smart contacts termed disruptive technologies provide innovative solutions that cannot be ignored due to their inherent complexities. Regarded as complex systems, there is a need to have a theoretical view to understanding the hidden order to the evolution of these systems to bring out traits that are common and have a combination of independent actors behaving as a single unit responding and adapting to their existent setting, as self-organizing systems.

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No external funding was declared for this work.

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The authors declare no conflict of interest.

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No ethics committee approval was required for this article type.

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Neyole Misko. 2026. \u201cBlockchain and Smart Contracts as Complex Self-Organizing Frameworks: Theoretical Perspective\u201d. Global Journal of Computer Science and Technology - E: Network, Web & Security GJCST-E Volume 22 (GJCST Volume 22 Issue E2): .

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Enhanced security and efficiency with blockchain-based smart contracts.
Journal Specifications

Crossref Journal DOI 10.17406/gjcst

Print ISSN 0975-4350

e-ISSN 0975-4172

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GJCST-E Classification: DDC Code: 332.178 LCC Code: HG1710
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v1.2

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July 18, 2022

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English

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Blockchain offers unprecedented opportunities for innovation in financial transactions with a whole new world of opportunities for banking, lending, insurance, and money transfers. Through its algorithms, digital security by decentralization, form smart contracts. Smart contracts allow the performance of credible transactions without third parties, the transactions premised by trackable and irreversible processes are superior to traditional contract law and greatly reduce other transaction costs associated with contracting. Globally, enterprises are undergoing a major transformation towards smart businesses that use intelligent systems integrated into planning for their daily routine. Blockchain technology and smart contacts termed disruptive technologies provide innovative solutions that cannot be ignored due to their inherent complexities. Regarded as complex systems, there is a need to have a theoretical view to understanding the hidden order to the evolution of these systems to bring out traits that are common and have a combination of independent actors behaving as a single unit responding and adapting to their existent setting, as self-organizing systems.

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Blockchain and Smart Contracts as Complex Self-Organizing Frameworks: Theoretical Perspective

Neyole Misko
Neyole Misko
Dr. Rono Kipronoh
Dr. Rono Kipronoh
Dr. Muchelule Yusuf
Dr. Muchelule Yusuf

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