The rapid advancement of technology in the 21st century has brought intellectual property [IP] to the forefront as a critical asset in the tech industry.Licensing agreements, essential for fostering innovation and collaboration, face significant challenges in efficiency, transparency, and enforcement.Traditional licensing processes are often plagued by inefficiencies, including lengthy negotiations, manual documentation, and disputes arising from ambiguous terms.This paper explores the transformative potential of artificial intelligence [AI] and blockchain-based smart contracts in automating and enforcing IP licensing agreements.Smart contracts, programmable agreements executed on blockchain platforms, offer unprecedented opportunities for ensuring transparency, reducing administrative burdens, and automating royalty payments.When integrated with AI, these contracts can analyse vast datasets, predict licensing trends, and provide tailored recommendations, enabling more informed decision-making for licensors and licensees.Furthermore, the immutable nature of blockchain enhances trust by recording transactions securely and transparently, reducing the likelihood of disputes and fraud.This study also addresses challenges associated with adopting these technologies, including interoperability, scalability, legal implications, and ethical considerations in data use.It presents case studies from the tech industry, illustrating successful implementations of AI-powered smart contracts for IP licensing.By combining AI's predictive capabilities with blockchain's transparency and automation, companies can create robust frameworks for managing complex licensing agreements.The paper concludes that integrating AI and blockchain in IP licensing has the potential to revolutionize the tech industry by enhancing efficiency, fostering trust, and driving innovation.However, strategic implementation and stakeholder collaboration are crucial for realizing these benefits.
Blockchain Technology, also known as Distributed Ledger System, collects the data stored in enciphered blocks, which are closely linked to hash pointers. These hash pointers, links one block to another, which together forms a chain, known as the Block Chain. Blockchain and any other form of distributed ledger technologies, creates a trustworthy and a transparent record, by allowing multiple parties to a transaction to substantiate what will be entered in the ledger advanced. It has a multi-faceted utilization, where it can reserve and protect any type of data and can also, encrypt the Data in stored in Independent Data Blocks. These chains have an unaccompanied and unassisted time snaps, which secures the indivisible data, collected from consumers. This distributed ledger technology, creates a secure, time-stamped and immutable chain of information, which prevents counterfeiting and ensures that, the IP systems, are properly being traced. Blockchain, also supports smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. Smart contracts can automate the licensing and royalty payments for IP, ensuring that creators are compensated fairly and transparently. It also facilitates the creation of decentralized marketplaces for buying, selling, and licensing Intellectual Property. Thus, this reduces the need for intermediaries and can also lower transaction costs, which increases the access to IP for potential buyers and licensees. Therefore, where a particular society is adapting up, to explore the unexplored, protection of Intellectual Property by using Blockchain, could play a vital role in the development and expansion of the Indian Economy. Thus, This research paper, aims to spell out the role of Block Chain technology, in protecting the data embedded in Intellectual Property Rights, which ensures to create a secure, transparent and a decentralized protection, for Intellectual Property Rights.
�. Schuler, Felipe Octaviano Delgado Busnello, Anderson Ricardo Yanzer Cabra
In the current state of the art, systems exist for the transfer of intangibleassets protected by Intellectual Property, consolidated through legal monopolies, either by attributive systems (such as patents and industrial designs) or automatically protected (such as copyrights andrelated rights). Some of these systems, or their respective methods, are described in scientific literature. Among these, some methods use blockchain technology, and a smaller subset (entirely contained within the former) also uses smart contract technology, though these areindependent tools. Although industrial secrets also constitute monopolies, the computerized or cryptographic solutions applied to other types of assets protected by different forms of intellectual property cannot be applied to these assets due to their sui generis nature, lackinga monopoly that exists independently of their non-disclosure. The need to maintain secrecy arises from Arrow’s Information Paradox, a phenomenon in which revealing the secret implies its transfer. This phenomenon hinders the potential transfer of industrial secrets and makes it impossible to adopt existing systems applicable to other types of intangible assets.
Reducing crime rate in a country is the most important concern of developing robust systems to automate the criminal record-obtaining process. Generally, the criminal record is managed manually, which makes the information collection from other criminal records very difficult. Therefore, investigations that could be carried out using criminal records to understand the purpose of crime and countering it are outdated. However, the integrity, security, and traceability of data exchange, especially for the judicial sector are the most frequent issues faced by information systems of public organizations. In this paper, we present a study of using blockchain technology and smart contracts to design a new architecture for a decentralized system to manage criminal record storage. This proposed architecture automates the process of getting a criminal record by moving past the techniques employed in developing traditional systems of data management such as centralized systems. In this study, blockchain technology is used to ensure data security, integrity, and traceability as well as ensure timely access to criminal records, and smart contracts are used to allow traceability and authenticity. This architecture will significantly reduce the impact of corruption in law enforcement by eliminating fraud cases, which will revolutionize E-governance in the Moroccan country.
The world has seen enormous disruption by new age technologies in every domain of today's economy including the arena of art, music and entertainment. Furthermore, the impact of artificial intelligence and blockchain technology particularly the Non Fungible Tokens (NFTs) has overwhelmed scholars about their understanding of laws related to intellectual property. Advances in technology are expanding the scope of intellectual property beyond traditional patents, trademarks, designs, trade secrets, plant breeders' rights, and more. Various issues related to intellectual property have taken centre stage in the world of NFTs and Blockchains. Intellectual property disputes over virtual goods and NFTs are on the rise, and countries across the world are endeavoring to address the issues related to the protection of virtual goods. This article analyses the nature and scope of protection granted to virtual goods and NFTs in major jurisdictions viz the US and China. Further, the article analyses if the provisions of Indian IP Laws particularly the Trademarks and Designs Acts are sufficient to grant protection to the virtual goods.
Open access
Physical Unclonable Functions (PUFs) and Hardware Security
Razvoj kriptovaluta donio je niz izazova poreznopravnim sustavima diljem svijeta, gdje se regulacija i oporezivanje digitalne imovine i dalje prilagođava novim tehnologijama. Rad započinje pojašnjavanjem osnovnih pojmova koji su ključni za razumijevanje kriptovaluta, poput pojma digitalna valuta, blockchain tehnologija, rudarenje i sl. Nadalje, kroz prizmu europskih regulatornih inicijativa, posebna pozornost posvećena je DAC8 direktivi koja osigurava poreznu transparentnost kroz razmjenu informacija o kriptotransakcijama te MiCA Uredbe koja regulira tržište kriptoimovine i ima za cilj zaštititi potrošače i osigurati stabilnost tržišta. Praktična primjena odnosno stavovi izabranih država prema oporezivanju kriptovaluta analizirani su u nastavku rada na primjerima Finske, Austrije i Švicarske koje su razvile specifične strategije za regulaciju i oporezivanje kriptovaluta. Konačno, rad završava detaljnim pregledom trenutnog poreznopravnog tretmana kriptovaluta u Republici Hrvatskoj. Republika Hrvatska aktivno radi na usklađivanju nacionalnog zakonodavstva s europskim zakonodavstvom, posebno kroz implementaciju MiCA uredbe, koja će zasigurno pridonijeti većoj transparentnosti i sigurnosti na tržištu kriptovaluta. Naposlijetku se ističe potreba detaljnijeg razjašnjavanja pojmova vezanih za kriptovalute, što bi pomoglo svim sudionicima na tržištu, kao i povećanje poticaja odnosno olakšica za "startup" kompanije kako bi se tržište kriptovaluta moglo uspješno razvijati u pozitivnom smjeru. kriptovalute, kriptoimovina, DAC8, MiCA Uredba, blockchain tehnologija, rudarenje, porez na dohodak
To achieve sustainable development of social systems, it is necessary to modernize the legal system, which is the foundation of any society, to increase the efficiency of resources and simultaneously optimize the performance of the environment and society. The immutable and timestamped features of blockchain offer a robust solution for tracking and authenticating digital copyright evidence, thereby enhancing the integrity and transparency of judicial systems. This ensures that the integration of blockchain into legal systems not only advances technological efficiency but also promotes environmental consciousness. Through comprehensive analyses that integrate questionnaires, interviews, case studies and legislative assessments, this research reveals that there are still problems in the application of blockchain evidence in China’s judicial practice, such as insufficient and stable credibility, inadequate database storage, deficient original rights mechanisms, and the imperfect application of rules of evidence. These problems can be solved by enhancing correspondence legal systems, such as establishing an officially trusted copyright certificate blockchain, creating a blockchain copyright certificate technology supervision system and formulating specific laws and regulations on the application and identification of blockchain evidence. As such, our study contributes to aligning blockchain with judicial records, supporting the sustainable development goals of social systems, fostering institutional justice and social progress.
<p>The purpose of this study is to find legal protection for Non-Fungible Token (NFT) copyrighted works in digital business. In today's digital business, the NFT (Non-Fungible Token) phenomenon is no longer foreign to millennials. NFT is a digital token used to represent ownership or rights to a digital work in the <em>blockchain chain</em>. In the context of copyright protection, NFT can be used to provide proof of ownership and authentication of unique digital works in digital business. NFT covers several aspects and broad applications, namely in the fields of art, music, games, virtual property, etc. This study is limited to NFT in the field of digital art. This shows that the field of digital art in the NFT application has become an idol for millennials to get economic value in addition to its legal protection. This research is a legal research normative with approach qualitative, concept, legislation. Method data collection through secondary data by taking previous research related to NFT protection. The analysis method is carried out qualitatively. The results of the study indicate that the legal protection of NFT copyrighted works in digital businesses has not been specifically regulated in Article 40 of Law Number 28 of 2014 concerning Copyright, so that further regulations are needed to protect copyrighted works applied in NFT to anticipate digital businesses that do not detrimental to the parties.</p>
Hassen Louati, Ali Louati, Abdulla Almekhlafi, Maha ElSaka · 7 authors
As blockchain technology increasingly underpins digital transactions, smart contracts have emerged as a pivotal tool for automating these transactions. While smart contracts offer efficiency and security, their automation introduces significant legal challenges. Detecting and preventing fraud is a primary concern. This paper proposes a novel application of artificial intelligence (AI) to address these challenges. We will develop a machine learning model, specifically a Convolutional Neural Network (CNN), to effectively detect and mitigate fraudulent activities within smart contracts. The AI model will analyze both textual and transactional data from smart contracts to identify patterns indicative of fraud. This approach not only enhances the security of digital transactions on blockchain platforms but also informs the development of legal standards and regulatory frameworks necessary for governing these technologies. By training on a dataset of authentic and fraudulent contract examples, the proposed AI model is expected to offer high predictive accuracy, thereby supporting legal practitioners and regulators in real-time monitoring and enforcement. The ultimate goal of this project is to contribute to legal scholarship by providing a robust technological tool that aids in preventing cybercrimes associated with smart contracts, thereby laying a foundation for future legal research and development at the intersection of law, technology, and security.
This research analyzes intellectual property law in relation to the transfer of economic rights from the author of the intellectual creation represented into the Non-Fungible Token (NFT) to the NFT buyer by a smart contract. The purpose of this research is to examine and comprehend the transfer of economic rights from the author of the intellectual creation represented into the NFT to the NFT buyer by a smart contract. This research approaches the topic from legal perspective, using the normative juridical method. This research will closely examine several relevant the provisions of laws and regulations to identify and analyze the legal issues involved in the transfer of economic rights from the author of the intellectual creation represented into the NFT to the NFT buyer by a smart contract. Research has shown that Article 16 Paragraph (2) of the Copyright Law can be applied to the transfer of economic rights of intellectual creation represented into the NFT by a smart contract, using the argumentum per analogiam method. This means that NFT buyer can enjoy the economic rights listed in Article 9 Paragraph (1) the Copyright Law.
The domain of Digital Forensics for the Industrial Internet of Things (IIoT) and the proposed use of a Distributed Digital Ledger (DDL), has for the most part been theoretical in nature within the current literature. The work in this paper explores the practical feasibility of using DDL technology for Digital Forensics in the IIOT context. We detail a new methodology for testing the performance of writing to and reading from a DDL in an IIOT environment, and present findings on the overhead associated with storing and retrieving IIoT transactions in a DDL. We conclude that while it is possible to build and use a DDL for storing IIoT transactions, there are limitations to the number of sensors that can be supported by a single implementation and the time it takes to retrieve transactions may be too high to be practical for Digital Forensics.
This paper provides a critical examination of Music Non-Fungible Tokens (NFTs) within the context of the digital transformation of the music industry, focusing on the implications for equitable artist compensation. As digitalization reshapes consumption and revenue models, the advent of Music NFTs, predicated on blockchain technology, presents a nuanced paradigm for artist-fan interactions and compensation structures. Through an interdisciplinary methodology that integrates literature review and expert interviews, this study scrutinizes the operational mechanisms of Music NFTs, their potential to reconfigure the economics of music production, and the attendant legal and technical challenges. While Music NFTs proffer an innovative approach to direct artist revenue and engagement, this inquiry reveals a complex landscape fraught with legal ambiguities, technological hurdles, and market volatility. The findings underscore the dialectical relationship between the potential benefits of Music NFTs for artists and the prevailing challenges that circumscribe their efficacy.
работа посвящена анализу правового режима (правовой природы) криптовалюты, в том числе поиску ответа на общий вопрос о наличии либо отсутствии у криптовалюты признаков объекта гражданского права (объектоспособности). Автор анализирует основные взгляды на феномен криптовалюты с точки зрения права, в том числе приводит критический анализ позиции законодателя. По результатам работы автор, анализируя такие признаки криптовалюты, как выполнение ею функции денежного суррогата, отсутствие в отношении криптовалюты обязанного лица, а также существование криптовалюты в форме информации, приходит к выводу о том, что крипиптовалюта не является объектом гражданского права. В то же время автор не исключает целесообразность применения к отношениям, связанным с использованием криптовалюты, норм о неосновательном обогащении. the paper is devoted to the analysis of the legal regime (legal nature) of the cryptocurrency, including the search for an answer to the general question about the presence or absence of signs of the object of civil law (objectability) in the cryptocurrency. The author analyzes the main views on the cryptocurrency phenomenon from the point of view of law, including a critical analysis of the position of the legislator. According to the results of the work, the author, analyzing such signs of cryptocurrency as its fulfillment of the function of a monetary surrogate, the absence of an obligated person in relation to crypto currency, as well as the existence of cryptocurrency in the form of information, comes to the conclusion that crypto currency is not an object of civil law. At the same time, the author does not exclude the expediency of applying rules on non-innovative enrichment to relations related to the use of cryptocurrencies.
The article discusses the problems of classifying cryptocurrencies as property subject to confiscation in accordance with Chapter 15.1 of the Criminal Code of the Russian Federation. Despite the controversial nature of the possibility of foreclosure on cryptocurrencies, the amendments made to Article 104.1 of the Criminal Code by Federal Law No. 214-FZ of June 13th, 2023, expand the cases of confiscation in cases of crimes in the field of computer information (Chapter 28 of the Criminal Code), which, as a rule, involve the use of cryptocurrencies. The highest court in the new version of the Resolution of the Plenum of the Supreme Court of the Russian Federation dated June 14, 2018 No. 17 “On some issues related to the use of confiscation of property in criminal proceedings” dated 12.12.2023 provides a number of provisions that allow us to judge the expansion of the possibility of using the confiscation of cryptocurrencies. The emerging heterogeneous judicial practice allows for various options for the confiscation of cryptocurrencies, depending on the specifics of the electronic medium and various features of storing cryptocurrencies. The lack of both regulatory and technical support for the execution of the confiscation of cryptocurrencies makes it difficult to effectively confiscate cryptocurrencies and achieve the goals of criminal proceedings, which requires amendments to the current legislation of the criminal cycle.
Dirk Andreas Zetzsche, Julia Sinnig, Areti Nikolakopoulou
This article discusses the EU’s approach to regulating crypto custody services under the Market in Crypto-assets (MiCA) Regulation against the background of asset diversions and misappropriations observed throughout the Crypto Winter. It seeks to identify whether MiCA meets its legislative objectives and whether it provides a sufficiently solid foundation for the future of the emerging crypto industry. We find that MiCA’s focus is on what we have called herein ‘institutional resilience’, ensuring that the custodian is soundly organized and governed and must not reuse clients’ assets on their own accounts. At the same time, MiCA lacks strength on ‘asset resilience’ (ie providing safeguards for cases where the custodian, third parties, the token-issuer or DeFi application, as the case may be, encounter difficulties). This article discusses the EU’s approach to regulating crypto custody under the Markets in Crypto-assets (MiCA)1 Regulation. To ensure financial stability, an adequate degree of investor protection, market fairness and integrity in places where gaps in the traditional EU financial regulation have been identified,2 MiCA subjects crypto-asset service providers (CASPs) to both licensing and financial supervision if they provide certain crypto-asset services specified in Article 3(1)(16) MiCA. The provision of custody and administration of crypto-assets on behalf of clients is one such crypto-asset service.3 Custody is one means of providing safekeeping and is the main function of investment fund depositaries.4 Under established investment fund regulation, custody requires registration ‘in a financial instruments account opened in the depositary’s books’ or physical delivery to the depositary.5 The AIFMD6 limits the holding in custody to financial instruments, whereas for other assets, ownership verification and record-keeping is required.7 The widespread insecurity about the qualification of crypto-assets as financial instruments or not8—prior to MiCA—also impacted on what custody and safekeeping of crypto-assets was deemed to entail; this, in turn, may have contributed to token-holders’ losses in a period known as the Crypto Winter,9 with billions of Euros in asset value lost in less than two years.10 These losses have undermined the token-holders’ trust in crypto, threatening to halt the growth of crypto and investments in distributed ledger technology (DLT) at large,11 not even two years after enthusiastic predictions of a golden crypto future.12 Even today, when Bitcoin as most prominent digital asset experiences an upturn in the Spring of 2024, most large-volume crypto-assets (such as Ether, Tether, USCD) trade below their record highs of 2023. In this article, we seek to identify where MiCA furthers legal certainty in this regard, as well as the robustness of the crypto custody system at large, and whether MiCA provides a sufficiently solid foundation for the future of the emerging crypto industry. First, we discuss the context of crypto custody against the background of the Crypto Winter, the current market needs and the international proposals to regulate crypto in Section 2. We then highlight the scope of MiCA’s custody rules, as well as the general requirements applicable to all CASPs, and those affecting crypto custodians in particular in Section 3. Thereafter, Section 4 issues policy considerations, and Section 5 concludes. Starting in the second half of 2021, a series of operational shortcomings, malfunctions and asset diversions of major crypto projects became apparent, with losses often in the hundred millions of US Dollars.13 Following the Terra-Luna stablecoin algorithms’ collapse in May 2022 that wiped out US$50 billion in just three days,14 the crypto industry experienced a of of prominent crypto such as and in been to as the for the crypto industry. is the of undermined trust in the crypto asset and traditional this crypto Crypto custodians have and to a in crypto Crypto the of that the all of their clients’ in that and to the distributed These to and In this contributed to trust in Crypto custodians to the of to their clients’ Crypto custodians custody to and the and the Crypto custodians custody with of crypto investments and on the same providing custody in to their other crypto-asset services the financial of to the same and In turn, of became widespread throughout the industry and other of 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Tuhana Tuhana, Dona Budi Kharisma, Nabilah Khoirunnisa
The purpose of this legal research is to find out the legal problems in protecting the copyrights of creators of works of art on Non-Fungible Tokens (NFT) and to find out the forms of legal protection for creators’ copyrights of works of art on NFT. The type of research is normative legal research. The approaches used are statute approaches, conceptual approaches, and comparative approaches. The legal materials used are all regulations regarding copyright that exist in Indonesia and The United States of America (USA). NFT is a copyright protection solution for creators of works of art in the digital era. Indonesia does not yet have a digital copyright act while the USA has a digital copyright act called the Digital Millennium Copyrights Act (DMCA) which is able to protect the copyrights of art creators in NFT. In Indonesia, it has not yet been regulated regarding the prohibition of the importation of anti-circumvention devices, which has been handled in Chapter 1201 of the DMCA. Then there is also no regulation regarding the deletion of NFT content, which indicates violations in Indonesia, which has been regulated in USA.
Los sistemas tecnológicos y judiciales han revolucionado por los Non-Fungible Tokens (en adelante NFTs por sus siglas en inglés). Características como la infungibilidad y uso de blockchain, crean tensiones jurídicas entre NFT y los derechos de autor. Entre los dilemas jurídicos están las crecientes incerti- dumbres sobre los activos digitales que pueden ser protegidos, la propiedad del contenido y la cesión de derechos de autor. Este estudio se centra en la ley de derechos de autor ecuatoriana y desafíos a los que se enfrenta cuando los NFT entran al mercado. Este artículo responde a la pregunta sobre la adecuación de las leyes de derechos de autor de Ecuador y normas conexas para el manejo de las controversias sobre NFT. Analiza el impacto que tiene sobre el token digital y sus derechos de autor entre compradores y vendedores, además de los reglamentos de las plataformas que emiten y comercializan tokens digitales. Examina los derechos del creador, así como los derechos de los compradores, y cómo afectan a los derechos de autor. Por último, se concluye que, si bien la ley ecuatoriana no regula directamente los NFT, es posible regular sus contro- versias mediante artículos conexos e integración de otras normas.
Ngozi Samuel Uzougbo, Chinonso Gladys Ikegwu, Adefolake Olachi Adewusi
Enhancing consumer protection in cryptocurrency transactions presents a critical challenge due to the decentralized and often opaque nature of the cryptocurrency market. This abstract explores the legal frameworks and mechanisms aimed at safeguarding consumers engaging in cryptocurrency transactions, focusing on key issues, challenges, and recommendations for improvement. Consumer protection in cryptocurrency transactions is a pressing concern due to the prevalence of fraud, hacking, and market manipulation. The lack of regulatory oversight and the pseudonymous nature of transactions make it challenging for consumers to seek recourse in cases of fraud or misconduct. To address these challenges, legal frameworks have been developed at both national and international levels. At the national level, some countries have implemented consumer protection laws that apply to cryptocurrency transactions, such as requiring exchanges to comply with anti-money laundering (AML) and know-your-customer (KYC) regulations. However, the effectiveness of these laws is limited by the global nature of the cryptocurrency market and the difficulty in enforcing regulations across borders. Internationally, organizations like the Financial Action Task Force (FATF) have issued guidelines to combat money laundering and terrorist financing in the cryptocurrency sector. These guidelines recommend that countries implement AML and KYC measures for cryptocurrency exchanges and wallet providers. While these recommendations are a step in the right direction, implementation remains a challenge, particularly in countries with limited regulatory capacity or political will. To enhance consumer protection in cryptocurrency transactions, several recommendations can be considered. These include increased collaboration between regulators and industry stakeholders, the development of international standards for consumer protection in cryptocurrencies, and the establishment of a regulatory framework that balances innovation with investor protection. Additionally, consumer education and awareness campaigns can help individuals make informed decisions when engaging in cryptocurrency transactions. In conclusion, enhancing consumer protection in cryptocurrency transactions requires a multi-faceted approach that addresses regulatory gaps, promotes international cooperation, and empowers consumers through education and awareness. By implementing these recommendations, policymakers and industry stakeholders can work together to create a safer and more transparent cryptocurrency market.
Ngozi Samuel Uzougbo, Chinonso Gladys Ikegwu, Adefolake Olachi Adewusi
The rise of cryptocurrencies has presented new challenges for regulators around the world, particularly in terms of enforcement across international borders. This abstract explores the jurisdictional challenges faced by authorities in enforcing cryptocurrency laws and proposes collaborative solutions to address these challenges. Cryptocurrencies operate on a decentralized network, making them difficult to regulate within traditional legal frameworks. Jurisdictional issues arise when a cryptocurrency transaction involves parties in different countries, as it is often unclear which jurisdiction's laws apply. This ambiguity can lead to regulatory gaps and enforcement challenges, allowing illicit activities such as money laundering and terrorism financing to flourish. To address these challenges, collaborative solutions are needed. International cooperation between regulators, law enforcement agencies, and industry stakeholders is essential to ensure effective enforcement of cryptocurrency laws. This cooperation can take various forms, including information sharing, joint investigations, and the development of common regulatory standards. One example of successful collaboration is the Financial Action Task Force (FATF), an intergovernmental organization that sets standards for combating money laundering and terrorism financing. The FATF's guidance on virtual assets and virtual asset service providers has helped to clarify regulatory expectations and promote consistency in enforcement efforts across jurisdictions. Another example is the Joint Chiefs of Global Tax Enforcement (J5), a coalition of tax authorities from five countries that work together to combat international tax evasion. The J5's focus on cryptocurrency-related tax crimes highlights the importance of cross-border cooperation in tackling cryptocurrency-related illicit activities. In conclusion, while jurisdictional challenges remain a significant hurdle in the enforcement of cryptocurrency laws, collaborative solutions offer a path forward. By working together, regulators, law enforcement agencies, and industry stakeholders can address these challenges and ensure that the benefits of cryptocurrencies are realized while mitigating their risks.
This paper investigates some of the legal issues related to non-fungible tokens, i.e. NFTs. The main feature of non-fungible tokens is their uniqueness together with the possibility of representing any digital resource on a blockchain, thus making it demonstrable and economically evaluable. From a legal point of view, this kind of instrument is alluring even though many look at it with uncertainty. As with any emerging technology, NFTs also present legal issues which need to be addressed as the market continues to grow. These problems deal with the legal nature of NFTs arising the doubt if they are securities or not. One more issue is the potential applicability to non-fungible tokens of the first sale rule. Furthermore, the problems involved also extend to other areas of law. In fact, both issuers and buyers need to be protected. Regarding issuers, the issue of an NFT may require the drafting of an additional contract with a specialised entity. On the other hand, buyers must be adequately informed of the purchase transaction. It follows that all the parties must be aware of the legal challenges involved and work towards establishing best practices and industry standards to address them. Additionally, it is necessary to issue specific legislation that regulates every aspect of the purchase. Received: 10 February 2024 / Accepted: 29 March 2024 / Published: 5 May 2024
Non-Fungible Tokens (NFTs) have introduced novel mechanisms to authenticate and trade digital art, fostering a vibrantand dynamic marketplace by leveraging blockchaintechnology. However, the rise of NFTs has also prompted a host of legaland ethical considerations that necessitate careful scrutiny. This research paper provides an in-depth exploration of Non-Fungible Tokens (NFTs) as an emerging form of intellectual property that is transforming the digital art landscape.The paperbegins by elucidating the principles behind NFTs and their significance to digital art, elucidating how these tokens redefinetraditional notions of ownership. It scrutinizes the role of blockchain technology in protecting digital art and the distinctiveadvantages it provides, such as transparency and immutability.The paper then delves into the critical legal implications,particularly focusing on copyright issues and the evolving regulatory environment, highlighting the dichotomy between theownership of NFTs and the copyright of the underlying digital artwork. It conducts a comparative legislative analysis ofIndia, the USA, and the UK, indicating the urgent need for regulatory frameworks that can navigate the global anddecentralized nature of NFT transactions.The paper engages with ethical concerns, including environmental impact, economic inequality, and artist attribution,underscoring the necessity for balancing innovation with responsibility.Finally, it provides recommendations for regulatoryapproaches and discusses future implications, emphasizing the need for clarity, balance, and international cooperation inlegislation, alongside the importance of continuous dialogue and research. This paper lays the groundwork for furtherinvestigations into the fast-evolving world of NFTs and their wider societal impacts.
With the rapid advancement of technology, the emergence of Non-Fungible Token (NFT) platforms has revolutionized digital buying and selling. However, this innovative platform has also given rise to a concerning issue: the unintentional trade of personal data instead of artwork. This problem poses a significant challenge in protecting individuals' personal information, especially when items like National Identity Card (KTP) photos are sold as NFT assets. This research aims to explore the critical importance of legal education in safeguarding personal data, thus preventing such transactions that may lead to self-harm. Employing a normative juridical method and a conceptual approach, this study extensively analyzes legal aspects and regulations related to personal data protection. The findings underscore the urgent need for legal education to effectively address personal data transactions on NFT sites within marketplace platforms. Despite the implementation of the Personal Data Protection Act (Law Number 27 of 2022), it is clear that the legislation alone is insufficient. Given the gravity of the issue, comprehensive public education initiatives involving various segments of society are crucial. Protecting personal data has become a matter of utmost concern for the government, the state, NFT platform users, and internet users at large. Individuals must adopt a vigilant and proactive approach in safeguarding their personal data. Legal education programs, including outreach activities conducted by governmental and non-governmental entities, along with the involvement of students and academics in community counseling, can effectively support this objective.
إن التطور التقني أفرز نظاماً جديداً للتعاقد عن بعد يعرف بالعقود الذكية، والتي تمثل أحد تطبيقات تقنية سلاسل الكتل (Block‑chain) وتعتبر هذه التقنيات جيلاً متطوراً ومستحدثاً عن العقود الإلكترونية، إلا أن هذا العقد يواجه بعض الإشكاليات المتعلقة بتكوينه، منها ما يتعلق بالتعبير عن الإرادة والأهلية القانونية للمتعاقدين. لذا جاء هذا البحث لتسليط الضوء على هذه الإشكاليات، حيث خلص إلى بعض النتائج، منها أن الإيجاب يتشكل في العقود الذكية منذ لحظة نشر الكود البرمجي على منصة سلسلة الكتل، وأن أهلية التعاقد تمثل عائق أمام العقود الذكية، وعليه، يجب العمل على تحديد الآلية القانونية المناسبة للتعرف على أهلية المتعاقدين، سواء الشخصية أو الاكتفاء بالشخصية المالية الرقمية للمتعاقدين عبر العقود الذكية، والعمل على وضع تشريع موحد لتنظيم العقود الذكية. Technological advancements have given rise to a new remote contracting system known as Smart Contracts. These contracts, which are an application of block‑chain technology, represent a sophisticated and innovative generation beyond electronic contracts. However, the formation of these contracts faces challenges, particularly regarding the expression of will and the legal capacity of the contracting parties. This study sheds light on these challenges and draws certain conclusions. One of those conclusions that the Offer in Smart Contracts is established from the moment the program code is deployed on the block‑chain platform. Additionally, contractual capacity poses an obstacle to Smart Contracts. Therefore, it is essential to work towards defining appropriate legal mechanisms to determine the capacity of the contracting parties, whether in terms of personal capacity or reliance on the digital financial capacity of the parties through Smart Contracts. Furthermore, there is a need to develop unified legislation to regulate Smart Contracts.
Objective : to answer the question whether the authors’ moral rights the in the digital environment correspond to their original purpose, and to determine the impact of the development of social networking platforms, artificial intelligence technologies and non-fungible tokens (NFT) on the transformed role and features of the protection of the author’s moral rights under modern conditions. Methods : the research is based on historical-legal, comparative-legal and formal-dogmatic methods. Legal institutions and legal practice on the issue of protection of the author’s moral rights are subjected to critical analysis. Results : the genesis and normative fixation of the author’s moral rights are investigated in historical retrospect. It is noted that at present the protection of these rights is insufficiently regulated at the international level, while national copyright law, for example, of continental European states, provides a sufficiently strong protection of the author’s moral rights; however, the effectiveness of the latter is weakening in the digital age. The paper analyzes the changing landscape of copyright relations caused by technological progress: in social networks, in the generation of works by artificial intelligence, and in the creation of digital works of art. The thesis is substantiated that the author’s moral rights are undesirable in the context of social platforms. The paper proposes solutions to the issues of authorship of works created by artificial intelligence, violation of author’s rights, and integrity in case of full or partial borrowing of a work to generate a new work by artificial intelligence. The role of NFT technologies in solving the problem of preserving the author’s moral rights is defined. Scientific novelty : the work fills a gap in research on the relationship between copyright and technological development. It identifies and evaluates the innovations in the purpose and content of the author’s moral rights, caused by the processes of digitalization, and attempts to solve the problem of the author’s rights compliance with technological progress. Practical significance : the obtained results may serve as a conceptual basis for further development and improvement of national legislation and international legal regulation in the field of copyright protection, transformation of the objectives, role and place of the author’s moral rights in the digital environment.