Validity of Agreements in the Digital era: Study of Electronic Contracts, Cryptocurrencies and Non-Fungible Tokens

Ronald Fadly Sopamena

doi:10.47268/sasi.v28i3.834

Validity of Agreements in the Digital era: Study of Electronic Contracts, Cryptocurrencies and Non-Fungible Tokens

Ronald Fadly Sopamena⁽¹⁾

(1) Faculty of Law Pattimura University, Ambon, Indonesia
email

Corresponding Author

Abstract

Introduction: E-commerce transactions that develop, of course, bring changes to agreements that have been carried out conventionally, the digital era has finally brought about a new world called the metaverse with a number of assets in the form of objects such as Non-Fungible Tokens (NFT) and Crypto Currency that only exist in cyberspace.

Purposes of the Research: The purpose of this research is to examine how the validity of agreements in the digital era, especially regarding electronic contracts and the purchase of Crypto Currency and NFT from Indonesian law persperctive.

Methods of the Research: This research is descriptive analytical with a normative juridical type using primary, secondary and tertiary data from literature studies, both legislation and legal literature and other documents.

Results of the Research: Both electronic contracts and electronic signatures used in e-commerce already have a legal basis so that their use is not something that is prohibited. Talking about the validity of an agreement will not be separated from Article 1320 of the Civil Code which requires 4 points that must be fulfilled in order for an agreement to be valid in the eyes of the law. This also applies to buying and selling crypto and NFT. Crypto is actually a currency, not recognized by the state. However, crypto can be traded and recognized as a trading commodity. NFT does not yet have special regulations, but the legal requirements for buying and selling NFT are still met even if the transaction uses crypto.

Keywords

Agreement; Digital Era; Crypto Currency; Non Fungible Token

DOI

10.47268/sasi.v28i3.834

Published

2022-10-13

How To Cite

APA: Sopamena, R.F. (2022). Validity of Agreements in the Digital era: Study of Electronic Contracts, Cryptocurrencies and Non-Fungible Tokens. SASI, 28(3), 336-343. DOI: https://doi.org/10.47268/sasi.v28i3.834.

IEEE: R.F. Sopamena, "Validity of Agreements in the Digital era: Study of Electronic Contracts, Cryptocurrencies and Non-Fungible Tokens", SASI, vol. 28, no. 3, pp. 336-343, Oct. 2022. Accessed on: Apr. 24, 2025. [Online]. Available DOI: https://doi.org/10.47268/sasi.v28i3.834

Harvard: Sopamena, R.F., (2022). "Validity of Agreements in the Digital era: Study of Electronic Contracts, Cryptocurrencies and Non-Fungible Tokens". SASI, Volume 28(3), pp. 336-343. [Online]. Available DOI: https://doi.org/10.47268/sasi.v28i3.834 (Accessed on: 24 April 2025)

Chicago: Sopamena, Ronald Fadly. "Validity of Agreements in the Digital era: Study of Electronic Contracts, Cryptocurrencies and Non-Fungible Tokens." SASI 28, no. 3 (October 13, 2022): 336-343. Accessed April 24, 2025. doi:10.47268/sasi.v28i3.834

Vancouver: Sopamena RF. Validity of Agreements in the Digital era: Study of Electronic Contracts, Cryptocurrencies and Non-Fungible Tokens. SASI [Internet]. 2022 Oct 13 [cited 2025 Apr 24];28(3):336-343. Available from: https://doi.org/10.47268/sasi.v28i3.834

MLA 8th: Sopamena, Ronald Fadly. "Validity of Agreements in the Digital era: Study of Electronic Contracts, Cryptocurrencies and Non-Fungible Tokens." SASI, vol. 28, no. 3, 13 Oct. 2022, pp. 336-343, doi:10.47268/sasi.v28i3.834. Accessed 24 Apr. 2025.

BibTeX:

@article{SASI834,
		author = {Ronald Sopamena},
		title = {Validity of Agreements in the Digital era: Study of Electronic Contracts, Cryptocurrencies and Non-Fungible Tokens},
		journal = {SASI},
		volume = {28},
		number = {3},
		year = {2022},
		keywords = {Agreement; Digital Era; Crypto Currency; Non Fungible Token},
		abstract = {Introduction: E-commerce transactions that develop, of course, bring changes to agreements that have been carried out conventionally, the digital era has finally brought about a new world called the metaverse with a number of assets in the form of objects such as Non-Fungible Tokens (NFT) and Crypto Currency that only exist in cyberspace.Purposes of the Research: The purpose of this research is to examine how the validity of agreements in the digital era, especially regarding electronic contracts and the purchase of Crypto Currency and NFT from Indonesian law persperctive.Methods of the Research: This research is descriptive analytical with a normative juridical type using primary, secondary and tertiary data from literature studies, both legislation and legal literature and other documents.Results of the Research: Both electronic contracts and electronic signatures used in e-commerce already have a legal basis so that their use is not something that is prohibited. Talking about the validity of an agreement will not be separated from Article 1320 of the Civil Code which requires 4 points that must be fulfilled in order for an agreement to be valid in the eyes of the law. This also applies to buying and selling crypto and NFT. Crypto is actually a currency, not recognized by the state. However, crypto can be traded and recognized as a trading commodity. NFT does not yet have special regulations, but the legal requirements for buying and selling NFT are still met even if the transaction uses crypto.},
				issn = {2614-2961},		pages = {336--343}			doi = {10.47268/sasi.v28i3.834},
				url = {https://fhukum.unpatti.ac.id/jurnal/sasi/article/view/834}
		}

RefWorks:

Citation format: Download Citation:

Journal Article

AMBORO, Yudhi Priyo; CHRISTI, Agustina. “Prospek Pengaturan Cryptocurrency Sebagai Mata Uang Virtual Di Indonesia (Studi Perbandingan Hukum Jepang Dan Singapura).” Journal of Judicial Review 21, no. 2 (2019). https://doi.org/http://dx.doi.org/10.37253/jjr.v21i2.665.

Fairfield, Joshua. “Tokenized: The Law of Non-Fungible Tokens and Unique Digital Property.” Indiana Law Journal, 2021, 1–99.

Ferreira, Agata, and Philipp Sandner. “Eu Search for Regulatory Answers to Crypto Assets and Their Place in the Financial Markets’ Infrastructure.” Computer Law and Security Review 43 (November 2021). https://doi.org/10.1016/J.CLSR.2021.105632.

Hudzaifah, Husnul. “Keabsahan Tanda Tangan Elektronik Dalam Pembuktian Hukum Acara Perdata Indonesia.” Katalogis 3, no. 5 (2015): 194–204.

Ilmih, Andi Aina, and A. Zulkarnain. “Ideal Electronic Contract Model As a Form of E-Commerce Disputes Settlement.” Jurnal Pembaharuan Hukum 6, no. 1 (2019): 77–87.

Setiawan, W. “Era Digital Dan Tantangannya. Seminar Nasional Pendidikan.” Seminar Nasional Pendidikan, 2017, 1–9.

Trotz, Ethan D. “The Times They Are a Changin: Surveying How the Howey Test Applies to Various Cryptocurrencies.” ELON. L. REV 11 (2019).

Book

HS, Salim. Hukum Kontrak, Teori & Tekriik Penyusunan Kontrak. Jakarta: Sinar Grafika, 2008.

Marzuki, Peter Mahmud. Penelitian Hukum,. Jakarta: Kencana, 2016.

Muhammad, Abdul Kadir. Hukum Perikatan. Bandung: Citra Aditya Bakti, 1992.

Oswaldo, Geordi. “Pengertian NFT, Cara Buat, Jual Dan Belinya,” 2022.

Subekti, R. Hukum Perjanjian. Jakarta: Intermasa, 2002.

RIA. “Belanda Berulang Kali Revisi, Indonesia Masih Gunakan KUHPer ‘Usang,’” 2015.

Thesis, Web Page, and Others

Ashford, Kate. “What Is Cryptocurrency?,” 2022.

coinformant. “Crypto Interest Index,” n.d.

Lestari, Reni. “Mau Investasi Aset Kripto? Ini 4 Platform Terbaik Jual-Beli Cryptocurrency Artikel Ini Telah Tayang Di Bisnis.Com Dengan Judul ‘Mau Investasi Aset Kripto? Ini 4 Platform Terbaik Jual-Beli Cryptocurrency’, Klik Selengkapnya Di Sini: Https://Ekonomi.Bisnis.,” 2021.

Wang, Qin, Rujia Li, Qi Wang, and Shiping Chen. “Non-Fungible Token (NFT): Overview, Evaluation, Opportunities and Challenges,” 2021.

Full Text: PDF

Article Metrics

Abstract View grafik

: 1836 times
PDF icon PDF

Download : 1358 times

Cited-By:

1. Comprehensive analysis of non-fungible tokens valuation and accounting under IFRS: Challenges and artificial intelligence implications
Mfon Akpan, Henry Ugochukwu Ukwu
Risk Governance and Control: Financial Markets and Institutions vol: 13 issue: 3 first page: 8 year: 2023
Type: Journal [View Source]


Dublin Core		PKP Metadata Items	Metadata for this Document

1.	Title	Title of document	Validity of Agreements in the Digital era: Study of Electronic Contracts, Cryptocurrencies and Non-Fungible Tokens

2.	Creator	Author's name, affiliation, country	Ronald Fadly Sopamena; Faculty of Law Pattimura University, Ambon; Indonesia

3.	Subject	Discipline(s)

3.	Subject	Keyword(s)	Agreement; Digital Era; Crypto Currency; Non Fungible Token

4.	Description	Abstract	Introduction: E-commerce transactions that develop, of course, bring changes to agreements that have been carried out conventionally, the digital era has finally brought about a new world called the metaverse with a number of assets in the form of objects such as Non-Fungible Tokens (NFT) and Crypto Currency that only exist in cyberspace.Purposes of the Research: The purpose of this research is to examine how the validity of agreements in the digital era, especially regarding electronic contracts and the purchase of Crypto Currency and NFT from Indonesian law persperctive.Methods of the Research: This research is descriptive analytical with a normative juridical type using primary, secondary and tertiary data from literature studies, both legislation and legal literature and other documents.Results of the Research: Both electronic contracts and electronic signatures used in e-commerce already have a legal basis so that their use is not something that is prohibited. Talking about the validity of an agreement will not be separated from Article 1320 of the Civil Code which requires 4 points that must be fulfilled in order for an agreement to be valid in the eyes of the law. This also applies to buying and selling crypto and NFT. Crypto is actually a currency, not recognized by the state. However, crypto can be traded and recognized as a trading commodity. NFT does not yet have special regulations, but the legal requirements for buying and selling NFT are still met even if the transaction uses crypto.

5.	Publisher	Organizing agency, location	Faculty of Law, Universitas Pattimura

6.	Contributor	Sponsor(s)	Faculty of Law Pattimura University, Ambon

7.	Date	(YYYY-MM-DD)	2022-10-13

8.	Type	Status & genre	Peer-reviewed Article

8.	Type	Type

9.	Format	File format	PDF

10.	Identifier	Uniform Resource Identifier	https://fhukum.unpatti.ac.id/jurnal/sasi/article/view/834

10.	Identifier	Digital Object Identifier	10.47268/sasi.v28i3.834

11.	Source	Title; vol., no. (year)	SASI; Volume 28 Issue 3, September 2022

12.	Language	English=en	en

13.	Relation	Supp. Files	Hasil Turnitin (1MB)

14.	Coverage	Geo-spatial location, chronological period, research sample (gender, age, etc.)

15.	Rights	Copyright and permissions	Copyright: Authors who publish their manuscripts in this Journal agree to the following conditions: 1. The copyright in each article belongs to the author, as well as the right to patent. 2. Authors can enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal. 3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) before and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work. 4. Authors have the right to self-archiving of the article (Author Self-Archiving Policy) License: The SASI Journal is disseminated based on the Creative Commons Attribution-NonCommercial 4.0 International license terms. This license allows anyone to copy and redistribute this material in any form or format, compose, modify, and make derivatives of this material for any purpose. You cannot use this material for commercial purposes. You must specify an appropriate name, include a link to the license, and certify that any changes have been made. You can do this in a way that is appropriate but does not imply that the licensor supports you or your use. This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.