Background. The article covers the analysis of the smart contract of cryptoassets in the civil law of Ukraine. Attention is argued that the essence of a smart contract of cryptoassets is that it is a self-executing contract, that is represented and executed by a computer program, the terms of which are included in the internal functions of a decentralized database that is not under the control of the databases of the parties to the contract or third parties . It is noted that a smart contract of cryptoassets, like any contract, can be declared invalid if the will to conclude it does not meet the conditions of validity of this transaction, regardless of the form in which this transaction is concluded, as in this case in the form of computer code. It is also stated that the terms of the smart contract of cryptoassets must be specific (clear, unambiguous), feasible (objective), valid, capable of automation (evaluative terms such as "reasonable term" cannot be used); it must exist within the blockchain platform (on which crypto-asset transactions are currently carried out) and not provide for the receipt and confirmation of information from the outside (in this regard, the terms of force majeure are not specified in the smart contract). Methods. The research uses dialectical, comparative-legal, formal-logical and other methods of scientific knowledge. Results. It is proved that a smart contract is an agreement represented and executed by a computer program containing all its terms and conditions, which are stored in an electronic registry system, where the result of this program execution is recorded. Conclusions. The determination of the person on whom legal liability is imposed when a smart contract does not perform the programmed function depends on the terms of the smart contract, and in their absence, the provisions of applicable law regarding the legal consequences of non-performance of the contract and liability for such non-performance should be used.
With the acceleration of global integration and the rapid development of technology, economic cooperation and regional integration have become an undeniable force in today's world development. Especially with the implementation of the "the Belt and Road" strategy, this development trend is more obvious. This plan was launched by China in 2013 with the aim of promoting infrastructure construction, trade cooperation, cultural exchanges, common development, and regional cooperation in Asia, Europe, Africa, and other regions. With the rapid development of Internet, big data, artificial intelligence and other technologies, the digital economy has become an important driving force for the development of the world economy. It has not only changed the operation mode of traditional industries, but also spawned new industrial forms. However, in a network environment lacking trust, trustworthy communication of data is an important prerequisite for promoting active data sharing among network entities. Information security technology based on encryption technology can effectively solve problems such as data untrustworthiness and privacy leakage in information exchange. This paper focused on the trusted exchange of data in the "the Belt and Road" digital economic cooperation, and discussed how to solve the trust problem in data exchange with the help of blockchain smart contract technology. First, the background of the "the Belt and Road" initiative and the significance of digital economy development were briefly introduced. Subsequently, the challenges faced by trusted data exchange in a network environment lacking trust were analyzed, and a solution based on blockchain smart contracts was introduced. The experimental results showed that when the data block size was 1GB, the data trusted exchange system based on blockchain technology took 10 seconds, and the data transmission rate still reached 891Mbps.
The article examines the emergence and transformation of the fundamental concepts in the field of crypto-finance. It is observed that the advent of bitcoin and its rapid proliferation gave rise to analogous crypto-products, whose crypto-tokens exhibited a digital representation of value and turnover, which were designated as “cryptocurrencies.” The evolution of the crypto industry has led to the emergence of novel crypto products with technical and financial characteristics distinct from those of cryptocurrencies (investment tokens, utility tokens, non-fungible tokens, stablecoins, etc.). These products have been positioned by their developers as cryptocurrencies. In 2018, the Financial Action Task Force (FATF) proposed the use of “virtual assets” as an alternative to “cryptocurrency.” Over time, the concept evolved to encompass all crypto-products whose cryptotokens exhibited both a digital expression of value and negotiability. In 2023, the EU adopted Regulation (EU) 2023/1114 of the European Parliament and of the Council on cryptoasset markets and amending Regulations (EU) No. 1093/2010 and (EU) No. 1095/2010 and Directives 2013/36/EC and (EU) 2019/1937 (MiCA Regulation) at supranational level, which was designed to harmonize the regulation of the cryptocurrency asset sector across the EU. This Regulation employs the term “cryptoassets” as a general definition for various crypto products whose crypto tokens possess a digital value and turnover (investment tokens, utility tokens, non-fungible tokens, stablecoins, etc.). It is posited that there has been a transformation of concepts, from cryptocurrencies to virtual assets, and then to cryptoassets. At this point in time, cryptocurrencies may be defined as a type of virtual asset. It could be argued that the concepts of “virtual assets” and “cryptoassets” are in fact identical.
This paper examines the complex legal landscape surrounding digital assets, analysing how they are defined and regulated as property across various jurisdictions. As digital assets such as cryptocurrencies and non-fungible tokens (NFTs) increasingly integrate with global economies, their intangible nature presents unique challenges to traditional property law concepts, necessitating a re-evaluation of legal definitions and ownership frameworks. This research presents a comparative analysis, reviewing how different legal systems classify and manage digital assets within property law, highlighting the variations in regulatory approaches and their implications on ownership, transfer, and inheritance rights. By examining seminal cases and regulatory developments in major jurisdictions, including the United States, the European Union, and Singapore, this paper explores the emerging trends and potential legal evolutions that could influence the global handling of digital assets. The study aims to contribute to the scholarly discourse by proposing a harmonized approach to digital asset regulation, seeking to balance innovation with legal certainty and consumer protection.
Smart contracts offer automation for various decentralized applications but suffer from vulnerabilities that cause financial losses. Detecting vulnerabilities is critical to safeguarding decentralized applications before deployment. Automatic detection is more efficient than manual auditing of large codebases. Machine learning (ML) has emerged as a suitable technique for vulnerability detection. However, a systematic literature review (SLR) of ML models is lacking, making it difficult to identify research gaps. No published systematic review exists for ML approaches to smart contract vulnerability detection. This research focuses on ML-driven detection mechanisms from various databases. 46 studies were selected and reviewed based on keywords. The contributions address three research questions: vulnerability identification, machine learning model approaches, and data sources. In addition to highlighting gaps that require further investigation, the drawbacks of machine learning are discussed. This study lays the groundwork for improving ML solutions by mapping technical challenges and future directions.
Adebunmi Okechukwu Adewusi, Njideka Rita Chiekezie, Nsisong Louis Eyo-Udo
Blockchain technology offers a promising decentralized approach to enhancing cybersecurity in the agricultural sector, addressing the increasing threats to data integrity and confidentiality. As agriculture becomes increasingly digitized, with the adoption of Internet of Things (IoT) devices, smart farming, and data-driven decision-making, the sector faces significant cybersecurity challenges, including data breaches, tampering, and unauthorized access. Traditional centralized security models are often inadequate in managing these risks, given the complex and distributed nature of modern agricultural operations. Blockchain technology, characterized by its decentralized, immutable ledger, provides a robust solution to these cybersecurity challenges. By storing data across a distributed network of nodes, blockchain ensures that information is protected from unauthorized alterations and cyberattacks. Each transaction or data entry in a blockchain is encrypted and linked to the previous one, creating a secure chain that is difficult to tamper with. This makes blockchain an ideal tool for safeguarding sensitive agricultural data, such as supply chain information, crop yield records, and proprietary research data. Furthermore, blockchain enhances transparency and traceability in agricultural processes, enabling stakeholders to verify the authenticity and origin of products, thereby reducing the risk of fraud and ensuring compliance with food safety standards. Smart contracts, another feature of blockchain technology, can automate and enforce security protocols, ensuring that only authorized parties have access to specific data or can execute certain actions within the network. However, the adoption of blockchain in agriculture also presents challenges, including technical complexities, high implementation costs, and the need for widespread industry collaboration. Despite these hurdles, the potential benefits of blockchain for cybersecurity in agriculture are significant, offering a powerful tool to protect data, enhance trust, and support the sector's digital transformation. In conclusion, blockchain technology represents a promising decentralized approach to enhancing cybersecurity in agriculture. By providing robust data protection, improving transparency, and enabling secure transactions, blockchain can play a critical role in safeguarding the future of digital agriculture. Keywords: Blockchain, Cybersecurity, Agriculture, Decentralized Approach, Data Protection.
Ildar Begishev, Veronika Denisovich, Timur Sabitov, A. A. Pass · 5 authors
The article is devoted to the analysis of global issues of the existence in law of a completely new object of criminal legal protection — metaverses. The authors consider it necessary to regulate not only the interactive space of the metaverses, but also the relationships that develop within them. A person is able to realize himself inside the digital space. The metaverse has entered social life, economics and law. They attributed metaverse technology to one of the ten technologies that affect the efficiency of business processes. According to analysts, a significant growth of the virtual economy based on digital assets is expected, and by 2027 40 % of companies will use a combination of Web3, cloud augmented reality and digital twins. And of course, this will require from digital law a comprehensive legal regulation of the metaverse technology, which is absent today as a phenomenon. There were complaints from users about the need to protect their rights in the process of using interactive content, in particular: protection of personal data, property, money, physical integrity, the ability to exercise their intellectual rights. However, before outlining the range of crimes that can be committed in completely new conditions, it is necessary to define in the concept of criminal law the need to protect this space, to regulate human activity in it.
This research article discusses current and promising issues in the field of cybersecurity, in particular, the analysis of potential threats and risks of Web3 development. Web3 is a new generation of the Internet based on blockchain technology, decentralization, cryptography, and smart contracts. This approach aims to improve security, privacy, and user rights in the virtual environment, but without proper understanding, it can carry the opposite risk. The article begins with an analysis of recent research and issues. The authors discuss potential threats and risks, including possible attacks on decentralization protocols, censorship manipulation, attacks on blockchain protocols, attempts to break the consensus system, and unfair smart contract transactions. The article discusses a number of vulnerabilities and attacks that can harm the new Web 3.0 technology. The article describes new threats to the privacy of users and their digital assets, including the use of anonymization technologies and countermeasures by criminal organizations or government agencies. The article also emphasizes the importance of discussing the legal aspects of Web3 integration, finding an optimal balance between the regulation of the digital space and users' rights to privacy and autonomy. Global challenges require international cooperation and standardization of regulatory rules in this area. The results of the study demonstrate that a conscious approach to analyzing Web3 threats is the key to building a secure future for the Internet. This article contributes to the dissemination of information and knowledge about possible risks, opens up new horizons for scientific research, practical implementation of cybersecurity measures, and political dialogue in the Web3 era.
The paper explores the growing integration of blockchain technology in the legal field, specifically focusing on the emergence of smart contracts with their automated execution of contractual obligations. Technology experts believe that the use of smart contracts contributes to the eradication of disputes. However, the author challenges this claim while analyzing the disputes that may arise in this area, including classic contract law disputes and new issues specific to smart contracts. The paper focuses on whether arbitration is the optimal forum for resolving these disputes. The relationship between traditional and blockchain arbitration is explored, examining disputes that would be resolved using established methods and those suitable for the newly created mechanism. The interests of traditional arbitration do not coincide with those of blockchain arbitration. Both should cooperate and take advantage of each other. The author asserts that the flexibility and adaptability of arbitration will be its dominant advantage in addressing these disputes.
In recent years, technological advancements have brought forth significant innovations in various sectors, including the realm of intellectual property. Notable among these innovations are Non-Fungible Tokens (NFTs) and the virtual universe (Metaverse). While these innovations offer new opportunities for intellectual property creators, they also pose potential threats to the ownership of intellectual assets. This article presents a normative legal research, descriptive in nature and based on primary and secondary literature. The gathered data is analyzed using a qualitative method, incorporating statute and conceptual approaches, as well as comparative analysis. The study aims to analyze how regulations can respond to these innovations, highlighting potential threats related to intellectual property infringement, identity theft, privacy, and money laundering. It also explores legal protection efforts for intellectual assets found in NFTs and Metaverse in line with existing regulations, community guidelines, and collaboration with various stakeholders.
The rapid digital tech growth has led to Non-Fungible Tokens (NFTs) and Metaverse rise. NFTs are blockchain-based certificates for virtual ownership. Metaverse offers 3D virtual reality for shared experiences, shaping new social and interactive norms. Business, like investing and ownership, thrives within it. However, Indonesia lacks comprehensive regulations for its legal aspects, potentially affecting user rights and copyright. The purpose of this research is to conduct an analysis, especially regarding metaversion regulations, especially in relation to intellectual property so that it becomes reference material for the public and policy makers. Research method using qualitative methods. Research results related to copyright protect the creator, transfer of ownership with purchase. Due to the limited regulation of NFTs, legal protection, especially of intellectual property rights, is very important. Registering each NFT artwork under IP rights ensures legal protection for all created works. Research also shows that there is a gap where the existing law only relates to Intellectual Property but does not yet address the metaverse world which in fact is a virtual world, so this study is very important to support the sustainability of intellectual property in the current metaverse world.
The study focuses on the examination of the most fundamental concept of civil law, especially the right in rem, namely the concept of things. The author seeks to answer the question of how new phenomena appearing because of technological development, such as digital assets, including various crypto assets like tokens, can be integrated into the system of classical civil law, whether they may be subject to property rights or the civil law rules applicable to the property. To answer this question, the author first explores the concept of things based on the old Hungarian private law literature and the provisions of the earlier and current Hungarian civil codes, presenting contemporary private legal opinions. Then, she deals with the legislative extension of the rules governing things and reviews which assets have been subject to a possible revision of the conceptual framework of the thing. The author pays particular attention to the examination of digital assets, defining and classifying tokens based on the MiCA regulation recently adopted by the European legislator. In the final part of the study, the author deals with the category of non-fungible tokens, highlighting the problems that are currently identifiable and clearly need to be solved in the future.
Open access
2 source records
Hungarian Social, Economic and Educational Studies
Objective : the automation inherent in smart contracts makes them an attractive tool for global trade applications, especially for the automation of transactions. The prospects foreseeable will significantly impact international economic relations and the transformation of international trade rules. This fact determines the study objective - to identify the possibilities of transforming the said rules and the political and legal strategies adopted by European countries to implement smart contracts in international trade. Methods : the study, devoted to the current international trade regulation in the context of contracts digitalization and spread of smart contracts, uses a combination of formal-legal and comparative-legal methods. They allow researching the international trade rules, analyzing and comparing the UK and the EU political and legal positions on the smart contracts introduction in international trade, as well as predicting the legal consequences of using smart contracts in international trade. Results : the research shows that the proliferation of smart contracts has significant implications for international trade and its regulation. Smart contracts have numerous advantages, such as increased efficiency, reduced costs, and wide availability. However, they may lead to legal challenges when harmonizing traditional legal principles with the digital environment, in particular concerning the authentication of subjects, enforceability under specific circumstances of a case, and jurisdictional issues. Scientific novelty : the current literature on the transformation of international trade regulation in the context of digitalization processes and the spread of smart contracts is complemented by the results of a comparative analysis of the legal positions existing in the European legal space and developed on the basis of problems, lessons and achievements in the smart contracts implementation in international trade. Practical significance : understanding the legal implications of smart contracts is important for businesses involved in international trade. The study provides insights into the UK and the EU legal positions from which guidance can be provided to companies navigating the digital landscape. Policymakers can also benefit from the findings when developing appropriate legal acts to balance the benefits of smart contracts with the need for legal certainty and protection in international trade.
Based on the analysis of legal norms, explanations provided by the Plenum of the Supreme Court of the Russian Federation, and legal practice, it can be concluded that issues related to the judicial protection of cryptocurrencies, including through the use of criminal law and criminal procedure, have not been subject to consistent regulation within the current legislative framework. This poses a threat to the possibility to prosecute individuals involved in cryptocurrency theft and the accessibility of legal remedies for those who became victims of such cases. The authors conclude that at present the legal narrative has been established, which effectively serves as a sole source of the law enforcement practice in the absence of comprehensive regulatory provisions. The authors have formulated some proposals for the improvement of the existing legislation aimed at addressing the identified and researched legislative ambiguities and ensuing the access of cryptocurrency owners to the judicial protection of their rights.
Introduction. The author draws attention to the emerging practice of recognizing cryptocurrency as property and converting it into the income of the Russian Federation. The purpose of the study was to identify the features of emerging practice and develop recommendations for further development of law enforcement practice. As part of the study, the author solved a number of tasks, namely, establishing which decisions the preliminary investigation body had allowed to foreclose on cryptocurrency as well as which indirect circumstances had influenced the effectiveness of the preliminary investigation. As part of the study, the author used the method of analyzing law enforcement practice. The author came to the conclusion that the effectiveness of the work of the preliminary investigation bodies in terms of the subsequent conversion of cryptocurrency into the income of the Russian Federation largely depended on the efficiency of decision-making, the application of professional knowledge about digital currency, and the competent building of a dialogue with the suspect and witnesses.
The article discusses certain features of the legal regulation of cryptocurrency, taking into account the specifics of building a model for the functioning of blockchain networks, which consists in combining various tools, technologies and principles that form a logical and secure structure for distributed data storage. The problems of criminal law protection of digital currency are highlighted and the most common scientific approaches are identified, on the basis of which the author indicates that the use of the concepts of “digital currency” and “cryptocurrency” as synonyms does not correspond to the legislative definition of digital currency, since the concept of cryptocurrency is wider in content than the concept of digital currency. As a result of a comprehensive analysis of the norms of the Federal Law of July 31, 2020 No. 259-FZ On Digital Financial Assets, Digital Currency and Amendments to Certain Legislative Acts of the Russian Federation, the author comes to the conclusion that digital currency is exclusively a “domestic” currency. Based on the study of judicial practice, it is shown that the broadest possible interpretation of the concept of “other property”, which includes digital currency and cryptocurrency, is allowed. It indicates the presence of judicial acts in criminal cases, in which the subject of a crime are such cryptocurrencies as, for example, bitcoin. Attention is focused on the importance of civil law regulation of cryptocurrencies for their criminal law protection and the range of social relations that develop regarding cryptocurrencies subject to protection by means of criminal law is determined.
This article presents an in-depth study of the legal landscape surrounding blockchain technology in the healthcare sector, with a special focus on case studies from European countries. Analyzing the existing legal framework and regulations, the research highlights the challenges and opportunities associated with the adoption of blockchain in healthcare. The most important research areas are data protection, security, consent, liability, and compliance. Through a comparative analysis of various European countries, the article illuminates the differences in legal approaches and points out possible areas of harmonization. The results clarify the legal aspects that must be addressed to ensure the integration of blockchain technology into healthcare systems, innovation while protecting patients' rights, and compliance with regulatory requirements.
Open access
Blockchain Technology Applications and Security
Artificial Intelligence in Healthcare and Education
The article examines the peculiarities of a public contract on the Internet. This is a type of legal relationship in the digital environment. It has been proven that some of the contracts on the Internet are public. If contracts on the Internet contain signs of a public contract, the rules on a public contract apply to them. Currently, there is no comprehensive list of public contracts in the Civil Code of Ukraine. This allows the application of legal norms to public contracts on the Internet. This is facilitated by the dispositive nature of civil law norms. It was concluded that the Internet is only a form of legal relations that exist in civil law. These legal relations are property or personal non-property. They take place in a digital environment. The Internet is a kind of digital form of legal relations, among which there are civil ones. Peculiarities of smart contracts have been studied. Some of them are characterized by public contracts. For example, a contract on registration on an Internet platform is public. Here, one party is the consumer, who receives the rights granted by the Internet platform. The second party is an entrepreneur who owns the rights to the Internet platform. Some smart contracts are not public contracts. For example, those that are arranged inside the Internet platform. In particular, this is a contract for the sale of NFTs. It is proposed to supplement the Civil Code of Ukraine. It is necessary to add provisions on smart contracts to it. These norms should be contained in the general provisions of the contract. Internet platforms for the sale of goods can mediate in the settlement of the dispute. They contribute to establishing contact and dialogue between the parties. This contributes to the protection of consumer
Open access
Digital Transformation in Law
Ukrainian Legal and Forensic Studies
Legal, Health, Environmental and COVID-19 Challenges
Introduction. The emergence of new technologies poses to the Russian legislator a number of complex issues that require rapid and high-quality study, since successful or, conversely, unsuccessful legal regulation of certain processes can promote or hinder their development. These are currently digital technologies and, as their separate element, the metaverse, which exists through the operation of a system of distributed registries, smart contracts, and primary accounting units – tokens. In this regard, the purpose of this publication is to consider the current state and certain aspects of improving the legal regulation of the metaverse and the turnover of a particular type of token, namely the non-fungible token (NFT). Methods. The research is based on the application of logical and dialectical techniques and methods of scientific cognition, comparative legal and legal-technical analysis of texts of normative acts, and materials of law enforcement practice. As a result of the research, the features of the functioning of metaverses as a symbiosis of the real, virtual, and imaginary worlds were considered. The introduction of such technologies into civil circulation, including the sphere of maritime transportation, can significantly improve the quality of legal protection of the rights and interests of subjects involved in these relations. The results of the review became the basis for the following conclusion: the Russian Federation is at the initial stage of the formation of metaverses on its territory, including the issue of legal regulation of such phenomena. In this connection, and taking into account the geopolitical situation, it was proposed by the state forces, with the involvement of the largest Russian transport organizations, on the basis of a public-private partnership, to accelerate the creation of such systems, including regulations in this area, both within Russia and at the regional and international level within the framework of the EAEU and BRICS.
Introduction. This article discusses the problem of the lack of special legislative regulation of the institution of smart contracts, which is expressed, among other things, in the absence of a definition of the concept of a smart contract and a distributed ledger of transactions (blockchain) in the law. The authors made an attempt to identify the presence of negative effects on legal relations due to the presence of a legislative gap in the regulation of this institution. Materials and methods. As part of the research, the author uses both general and specific scientific research methods. When studying the issue of the origin of the institution of smart contracts, the authors use the historical method, and when considering the issue of the existence of a gap in the legislative regulation of the institution of smart contracts in domestic law, they use the comparative legal method of scientific knowledge. Results of the study. The authors come to the conclusion that one of the main problems currently existing in the field of legal regulation of smart contracts is the lack of special regulation of this institution, as well as the lack of legislative recognition of the concept of a smart contract and a distributed registry of transactions. The identified problems create obstacles to the development and application of the institution of smart contracts in civil law relations. Discussion and conclusions. The study showed that the simplest solution to eliminating the regulatory gap of the smart contract institution is to legislate the concept of a smart contract and a distributed transaction registry in the wording proposed in the draft Law on the Central Federal District, which will make the use of this institution more attractive for participants in civil legal relations and will contribute to the development the specified institute.
Artificial Intelligence and Smart Contracts are two cutting-edge technological achievements of the so-called 4th Industrial Revolution era. Both have already had a significant impact on various aspects of modern life, including transactions, and each one has already been under scientific investigation. Instead, their interaction has not become the subject of a debate, although it can further (positively) affect the transactions. This interconnection takes place through specific mechanisms, called Oracles, which can be, among others, highly sophisticated Artificial Intelligence systems (autonomous systems). The present article aims to present the role of the Artificial Intelligence Oracles throughout the ‘smart contractual procedure’, as well as to shed light on the potential (new) legal issues this interconnection may raise. The main result of this article is to indicate the appropriate legal directions in case of Artificial Intelligence Oracles’ failures, based on the most prevalent current approaches to AI's (the user's) contractual and/or non-contractual liability. The major research's conclusion is that the Artificial Intelligence Oracle's failures may result in one of the following situations: (a) breach of a (smart) contract, (b) unjust enrichment, (c) conclusion of a (voidable) smart contract that should not have been concluded, or (d) non-conclusion of a smart contract that should have been concluded. The responsibility of each person participating in the ‘smart contractual procedure’, i.e. the contractual parties, the blockchain platform and the Artificial Intelligence user/owner (or even the Artificial Intelligence system itself), as well as the AI provider or designer, is examined in each of the afore-mentioned situations separately. Given that legislative initiatives have already begun, the present article aspires to contribute to the consistent address of the newly raised legal issues.