Smart contract in the financial sector

This contribution aims to analyze the main effects of digitalization on market dynamics and the problems regarding compatibility of traditional legislation with technological innovation, through a review of the different regulatory approaches, national and european. In the second part, this deepening concern smart contracts, with an examination of the evolution of contractual language and of wording of contract term, as well as of critical issues related to the simplification, implementation and automation of the contractual agreement (with particular reference to contracts concluded between non-professional subjects and free access to the new market). Therefore technological innovation requires an analysis of financial disintermediation (or "new intermediation"), robo-advice (automated consultancy is able to bridge social and accessibility gap), the new space c.d. "open banking" (characterized by immediacy and simplification of operations, as well as by the algorithmic assessment of creditworthiness) and insurtech (with automated claims management).