Blockchain Papers

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Lyudmila G. Efimova

No abstract is available for this record.

Marina Chudinovskikh, V. Sevryugin

This article presents the results of a comparative analysis of the legislative approaches to the regulation of cryptocurrencies in the BRICS countries and the Eurasian Economic Union. During the analysis, regulatory legal acts and draft laws, including material on judicial practice, of the Russian Federation, China, India, Brazil, the Republic of South Africa, the Republic of Belarus, Kazakhstan, Kyrgyzstan and Armenia were studied. The use of a comparative-legal method makes it possible to develop recommendations about the development of legislation on the circulation of cryptocurrencies within the BRICS countries. The assessment of the experience of EEU countries, and especially that of the Republic of Belarus, has great importance since the Russian Federation is a member country of both the EEU and BRICS. Comparative analysis was achieved by taking into account such key points as the existence of a regulatory framework, regulation of transaction taxation and counteracting the legalization of profits from crime. The results of the analysis are presented for each country separately and then systematized in the form of an analytical table. Based on the analysis, three approaches to the regulation of cryptocurrencies are identified: conservative, liberal and neutral. The study of the experiences of the BRICS and EEU countries allowed the authors to conclude that these countries need to formulate similar requirements for the regulation of cryptocurrencies so as to avoid the migration of investment and capital to other countries which have a more liberal approach.

Зоряна Двуліт, Khrystyna Peredalo, R. Tylipska, R. Terno · 5 authors

У статті розглянуто поняття "криптовалюта", обгрунтовано популярність цього нового виду фінансового інструменту на економічному просторі, виокремлено основні особливості криптовалюти як одного з виду віртуальних грошей та її вплив на економічну систему. Виокремлено такі ключові особливості криптовалюти: обмін на товари або послуги; обмін на класичну валюту; оплата товарів та послуг; мінімальний рівень неможливості викрадення; платежі, швидкі і прямі транзакції; інвестиційний актив; розвиток бізнесу на криптовалюті. Наведено переваги та недоліки криптовалюти та особливості її використання. Звернено увагу на Bitcoin, основний вид криптовалюти, який використовується в світі, та проаналізовано динаміку його курсу по відношенню до долара США. Розглянуто питання легалізації криптовалюти в окремих країнах, зокрема, в Україні. Визначено основні вимоги використання криптовалюти при її легалізації. Зосереджено увагу на українському законопроекті щодо порядку узаконення криптовалюти, що планується реалізувати в два етапи. Зроблено висновок про відсутність єдиної думки щодо подальшої стратегії розвитку криптовалюти в світі, її легалізації та законності використання. Наведено бачення щодо подальших тенденцій застосування криптовалюти у повсякденному житті та бізнес-середовищі. Проведено дослідження за проблемою розвитку ринку криптовалюти дозволило виокремити такі тенденції розвитку: нешвидке впровадження електронних грошей в усі сфери життя суспільства; можливість придбання усе більше товарів і послуг за крипто валюту; доповнення ринку фінансових послуг як новий платіжний інструмент та вид інвестиційних активів, не замінюючи при цього в найближчі роки, класичні банківські операції; зниження рівня анонімності при використанні криптовалюти, що буде зумовлено більшою її популяризацією; поширення легітимності криптовалюти у більшості державах світу; стабілізація курсу криптовалюти через 5—10 років; закріплення позицій Bitcoin як основної криптовалюти та поява нових, які досягатимуть масштабів Bitcoin.

Т. М. Шамсутдинова

The purpose of this study is to analyze possible problems in issuing digital diplomas, using the blockchain technology, and to promote solving these problems as well as to show the possibility of practical implementation of the blockchain technology, using a test example. Materials and methods. The study included a review of bibliographic sources on the use of blockchain technologies in the education system, as well as computer modeling of the task of registering and verifying a digital diploma in the blockchain. Results. In the course of the work, a model of the process of issuing and verifying digital diplomas was built, and a number of problems related to the practical implementation of this model were also considered. At the same time, the following groups of problems that restrain the spread of blockchain in the education sector of the Russian Federation were identified: technical and technological problems (lack of a national blockchain platform); legal issues (lack of legal force of digital diplomas); organizational problems (lack of a centralized management structure that coordinates the “educational” blockchain as a single digital information space). An example was also realized, showing the hardware and technological capabilities of the implementation of the task under consideration using the currently open (freely available) platforms. To implement the proposed test case, the Ethereum blockchain network was used, in particular, its RinkeBy test network. The project implementation consisted of the following stages: creating a digital diploma file and placing it in the open file-sharing network in order to obtain the corresponding document hash; obtaining blockchain address (an electronic wallet was created using the MetaMask browser plugin, which allows for the transfer of data on a digital diploma to the blockchain); preparing data to be sent to the blockchain, where the data was a hexadecimal code, containing brief information about a digital diploma, including its hash; transferring data to the Ethereum blockchain (making a transaction); verification of transaction results in Etherscan. Conclusion. The blockchain technology provides great opportunities in improving the concept of e-learning, taking into account the current requirements of the digital economy. This technology can conceptually change the data archiving system, increase the reliability of information protection against falsification, and significantly speed up the execution of requests for information and data processing. The problems that arise can be successfully resolved, as long as that the blockchain becomes one of the principles of the unified information educational space. At the same time, the blockchain gives the following new opportunities: transparency and verifiability of the system of certification of graduates of educational institutions; the possibility of liquidation of intermediary organizations that implement a variety of support monitoring and certifying functions, associated with the “paper” requests for confirmation of diplomas; the overall reduction in paper workflow, the transfer of the classic “paper” business-processes into the information space, and as a result of all this – the practical implementation and example of the realization of the concept of digitalization of the knowledge economy.

Meredith Veit

Quality journalism is essential to democracy, as it is a means of empowering people with information. Yet, journalists, and press freedom itself, are under threat. The number of journalist assassinations and forced disappearances is increasing as the World Press Freedom Index rankings achingly decline across the board. Most State protection mechanisms are currently insufficient in shielding journalists from escalating violence—irrespective of whether or not these journalists report from a country in peacetime or at war. As a result, technologists have begun developing powerful tools in an effort to ensure that journalists and human rights defenders alike are more prepared in the face of danger. Yet, technological integration as an added safety and security mechanism is far from seamless. This paper critically reviews the new technologies offered to journalists—those that have succeeded and failed—in an attempt to consolidate the lessons learned from both journalistic and technological perspectives. Resultantly, there is a theoretical gap in how the offerings of modern technology, namely blockchain, could serve as an indispensable tool to better protect journalists and the journalistic process, if applied correctly and realistically. This paper examines the convergence of blockchain and journalism; combining theoretical proposals from academia with the pragmatic technological developments underway and ultimately expanding upon the suggestions for potential applications. Furthermore, this paper proposes blockchain-based smart contracts as an innovative tool for combating the high impunity rates for those who commit crimes against journalists—particularly assassinations and disappearances. The author argues that an important use of blockchain could be to establish a journalistic version of a 'last will and testament.' This will ensure that essential stories do not die along with journalists who are assassinated while covering them and that those investigating the murders have greater access to pivotal evidence. However, any and all blockchain-based applications must first be vetted through an anti-techno-solutionist lens to assure that they are the most fitting tool for achieving the aim. Keywords: blockchain, journalism, freedom of the press, technology, smart contracts, techno-solutionism, violence against journalists, decentralization

Elena Bochkareva

The Author examines various approaches to the definition of cryptocurrency, the issues of legislative regulation of cryptocurrency in Russia, proposes measures to counter crimes using cryptocurrency. Based on the study, the Author concludes that in order to regulate cryptocurrency transactions, as well as in order to create a uniform judicial practice in cases related to cryptocurrency, it is necessary to create a unified regulatory framework on the subject matter. The Author proposes to legislatively fix the definition of cryptocurrency, the conditions for its issuance, storage and execution of transactions with it, as well as the circle of persons authorized to carry out operations to create, exchange, etc. with cryptocurrency; conduct training of specialists in the field of cryptocurrency through training courses, lectures, seminars, conferences, etc., including abroad, as well as to ensure the exchange of experience between experts in the field of cryptocurrency; create a technical base in law enforcement to track cryptocurrency transactions; to ensure the formation of scientific schools in the field of cryptocurrency.

Kacper Górniak

No abstract is available for this record.

Богдановс, Элвийс,

Relevance of the topic. Over the past four years, cryptocurrency as means of alternative payment have increased significantly, the successful market capitalization of the bitcoin, which currently stands at 138,237,195,020 EUR, indicates that the cryptocurrency can be considered an addition to 21 century financial instruments. Despite the unstable value of the cryptocurrency, bitcoin serves as a gateway between the financial markets of cryptocurrencies and the usual financial market for us. In this regard, at the moment there is a tendency to carry out transactions for movable or immovable property using cryptocurrency to reduce the number of taxes. And to rapidly transform financial asset types. A Cryptocurrencies come with secured layer of anonymity, decentralization of financial assets and without controlling authorities. Thus, crimes become more innovative and making investigation process more complicating. The thesis includes existing enterprises that have introduced cryptocurrency as a method of payment, as well as a possible scenario where the financing of political parties and organizations is made using cryptocurrency, allowing illegally exceed the permitted funding. The risks of malicious insolvency are considered. The thesis deals with the insolvency process, which was considered in the arbitration court of the Russian Federation in thesis the conclusion part has comparison between the jurisprudence relating to cryptocurrency in the Republic of Latvia and the Republic of Lithuania. The results of the study led to the following conclusions: despite the decisions of the court of justice of the European Union, supervising financial institutions need to develop means of controlling the cryptocurrency to reduce the illegal political party, the legalization of funds obtained by criminal means, and other processes that allow individuals to hide the true volume and purpose of financial transactions.

Віктор Євстафійович Загородній, В. Є. Загородній, Виктор Евстафьевич Загородний, Viktor Ye. Zahorodnii · 15 authors

Zahorodnii V. E. The establishment of cryptocurrency / V. E. Zahorodnii, V. V. Tishchenko, V. A. Dyntu // ECHR’s Jurisprudence in Digital Era : proceedings of the Int. sci. conf. (Odesa, May 31 – June 1, 2019) / MES of Ukraine, Nat. Univ. “Odes. Acad. of Law”, SRC NALSU ; exec. eds. H. A. Ulianova, V. A. Tuliakov. – Odesa : Publishing house “Helvetika”, 2019. – P. 114-117.

M. Kovryha

No abstract is available for this record.

KAPLINA V. A

No abstract is available for this record.

Filippo Zatti

No abstract is available for this record.

N.Yu. Polishchuk

ГЕНЕЗИС ПРАВОВОГО РЕЖИМУ КРИПТОВАЛЮТ У ЗАРУБІЖНИХ КРАЇНАХ ТА УКРАЇНІПостановка проблеми.Нормативне визначення та регулювання відносин створення, обігу, статусу криптовалют є обмеженим у зарубіжних країнах і відсутнє в Україні, хоча цей елемент ринкових відносин є досить

M. Bernatskyi

No abstract is available for this record.

Dmitriy Nazarov, Антон Назаров, Elena Kulikova

No abstract is available for this record.

Pratim Shekhar Patil

The purpose of this study was to analyze and understand the attitude of the millennial generation towards cryptocurrency. This topic of Cryptocurrency is in the growth stage and hence the understanding of the attitude of this generation shall be an addition to the current study available on cryptocurrencies. This dissertation will be beneficial to the upcoming or existing companies or offerers of cryptocurrency to estimate their future viability based on the millennial generation’s attitude.
\nThe results were formed based on the data collected through interviews of eight millennials from different professional background but having awareness about cryptocurrency. The questionnaire was formed to collect data about knowledge, experience, trust, and other investment factors of the millennials towards cryptocurrency. The research aimed to analyze the data collected and conclude the overall attitude of millennial generation towards cryptocurrency.
\nThis report focuses on the numerous factors and challenges that go into the decision-making process of the typical millennial investors. We can conclude that the millennials have positively accepted the concept of cryptocurrency but are doubtful when it comes to actual trading since they lack proper awareness and skills to do. But the experienced millennials have accepted it as a useful financial asset after. Thereby, the overall study on Cryptocurrency would help one to understand the merits and demerits of it in the present world along with the logical reasoning that has given a direction to the findings.

Nicholas Ross Smith

Russia, under the stewardship of Vladimir Putin, has arguably taken a number of steps to try and secure a position as a pole in an emerging multipolar world. One step has been to modernize its military and reassert itself globally (evident in its Syria action), while another step has been to try and hasten the decline of the United States (evident in its BRICS cheerleading). It is argued that the latter step is particularly difficult to achieve because the United States still has a significant power advantage over the rest. Additionally, the United States' hegemonic position is further insulated by having the U.S. dollar as the global

Альона Ільдусівна Гнатовська, А. І. Гнатовська, Алена Ильдусовна Гнатовская, Alona I. Hnatovska · 16 authors

The article deals with the problems of determining the place of the cryptocurrency in the system of financial instruments and the study of its legal status in Ukraine and in the world. The problems of influence of cryptocurrencies on the economy of Ukraine and other countries across the world, potential threats posed by the cryptocurrency system for users of such systems and ways of legal regulation of cryptocurrency transactions are considered. The terminology that is widely used in the cryptocurrency field is analyzed, the main types of cryptocurrencies and the technologies on which they function are considered. Their characteristic features, positive and innovative concepts, which were introduced with their appearance, are identified. The legal status of cryptocurrencies and their prevalence has been investigated. The modern concepts of regulation of the cryptocurrency market in Ukraine and in the world are characterized. In the course of researching the subject of the article, the authors conclude that it is necessary to establish state control over the regulation of the legal status of cryptocurrency and prevent its possible negative impact on the country's economy. It was also concluded that a draft law would be considered that would address the issue of regulation and control of cryptocurrency transactions.

Andrej Zwitter, Oskar Josef Gstrein, Evan Yap

While ‘classical’ human identity has kept philosophers busy since millennia, ‘Digital Identity’ seems primarily machine related. Telephone numbers, E-Mail inboxes, or Internet Protocol (IP)-addresses are irrelevant to define us as human beings at first glance. However, with the omnipresence of digital space the digital aspects of identity gain importance. In this submission, we aim to put recent developments in context and provide a categorization to frame the landscape as developments proceed rapidly. First, we present selected philosophical perspectives on identity. Secondly, we explore how the legal landscape is approaching identity from a traditional dogmatic perspective both in national and international law. After blending the insights from those sections together in a third step, we will go on to describe and discuss current developments that are driven by the emergence of new tools such as ‘Distributed Ledger Technology’ and ‘Zero Knowledge Proof’. One of our main findings is that the management of digital identity is transforming from a purpose driven necessity towards a self-standing activity that becomes a resource for many digital applications. In other words, whereas traditionally identity is addressed in a predominantly sectoral fashion whenever necessary, new technologies transform digital identity management into a basic infrastructural service, sometimes even a commodity. This coincides with a trend to take the ‘control’ over identity away from governmental institutions and corporate actors to ‘self-sovereign individuals’, who have now the opportunity to manage their digital self autonomously. To make our conceptual statements more relevant, we present several already existing use cases in the public and private sector. Subsequently, we discuss potential risks that should be mitigated in order to create a desirable relationship between the individual, public institutions, and the private sector in a world where self-sovereign identity management has become the norm. We will illustrate these issues along the discussion around privacy, as well as the development of backup mechanisms for digital identities. Despite the undeniable potential for the management of identity, we suggest that particularly at this point in time there is a clear need to make detailed (non-technological) governance decisions impacting the general design and implementation of self-sovereign identity systems.

Autilia Arfwidsson, Louise Fjord Kjærsgaard

The authors analyse the current classification of cryptocurrencies from the Danish and Swedish domestic income tax perspectives. Cryptocurrencies are analysed as they are typically applied in practice, where a categorization is made between coins, utility tokens, security tokens and asset tokens. In particular, it is concluded that despite the economic differences of different cryptocurrencies, they generally fall outside the scope of Danish and Swedish lex specialis regulation on taxation of capital gains and losses from the sale of certain assets, for example, shares and claims in currency. In both countries, there appears to be a presumption that most cryptocurrencies should be taxed as assets held for investment and speculative purposes. It is argued that such an approach is problematic not only in relation to the principle of neutrality, but also because it creates a barrier to realizing the economic potential of cryptocurrencies. The authors conclude that (1) the classification of cryptocurrencies poses challenges and uncertainty for tax purposes due to the lack of a regulatory framework, the absence of common definitions and the diverse technical structure of tokens and coins and (2) the classification for Danish and Swedish tax law purposes should be based on a case-by-case assessment of the specific cryptocurrency.

A. V. Syatchikhin

Abstract:at the beginning of 2018, considerable attention of lawyers attracted the case of a citizen’s bankruptcy with the decision to include cryptocurrency in the bankruptcy estate. This case exposed a number of problems associated with legal uncertainty regarding new technology products. What is cryptocurrency? To what objects of civil rights should it be attributed? What is the foreign practice and has the global tendency of regulating such relations formed? It is these issues that have become key to this article and determine its structure. The history of the issue, which has been going on for more than twenty years, is examined, foreign approaches of the legislator and law enforcer to regulate these relations are examined, the question of the economic nature of cryptocurrency is touched upon and, most importantly, questions are raised that law enforcers and legislators have yet to find answers.

M. A. Tokmakov

Development of digital technology opens up new opportunities for corporate governance. At the same time, modern law faces a difficult task – to find a balance between creating conditions for development of technologies including by means of non-interference, and providing the stakeholders in corporate governance with proper legal guarantees. This paper considers the impact of some of the most significant digital technologies on corporate governance, such as distributed ledger technology, smart contracts and artificial intelligence. There are certain legal trends and challenges arising from such innovations including the pursuance of sociability, peer-to-peer and decentralization of corporate governance which in many cases is associated with abolishing of bodies (of a part of bodies) for a corporation management, or transferring their powers (a part of powers) to the corporation members and/or to a computer program (artificial intelligence, algorithm, smart contract). Besides, the paper considers occurrences of new subject of corporate relations – crypto-assets (tokens) holders as well as the possibility for recognition of the legal personality of computer programs, in particular, decentralized autonomous organizations and artificial intelligence.

Bernat Ivancsics

Blockchain, like the internet, or democracy, or money, is many overlapping things. It is a decentralized record of cryptocurrency transactions. It is a peer-to-peer network of computers. It is an immutable, add-on-only database. What gets confusing is the way in which these overlapping functions override one definition or explanation of blockchain, only to replace it with an altogether different one. The conceptual overlaps are like glass lenses dropped on top of one another, scratching each other’s surface and confusing each other’s focal dimensions. This guide takes apart the stack of these conceptual lenses and addresses them one by one through the reconstruction of the basic elements of blockchain technology. The first section of this report gives a short history of blockchain, then describes its main functionality, distinguishing between private and public blockchains. Next, the guide breaks down the components and inner workings of a block and the blockchain. The following section focuses on blockchain’s journalistic applications, specifically by differentiating between targeted solutions that use blockchain to store important metadata journalists and media companies use on a daily basis, and hybrid solutions that include targeted solutions but introduce cryptocurrency, therein changing the journalistic business model altogether. Finally, the report speculates on the proliferation of what are known as Proof-of-Stake blockchain models, the spread of “smart contracts,” and the potential of enterprise-level and government-deployed blockchains, all in relation to what these mean to newsrooms and the work of reporters.