Blockchain Papers

Gaurav Duggal, Manoj Garg, Achint Nigam

Abstract In this chapter, we describe the importance of good governance in the metaverse. It offers unlimited opportunities and presents unique governance challenges. First, we describe the concept of good governance and its relevance to the metaverse. We emphasize that the speed of metaverse adoption depends upon the presence or absence of effective governance. Recognizing the metaverse as the next iteration of the internet, we present significant governance issues. Some issues such as interoperability, security, safety, privacy, law, and digital inequality are critical governance issues in the metaverse. Next, we explore the diverse governance frameworks to ensure the implementation of policies and regulations. These frameworks include decentralized governance, cross-sector collaboration, and standards-based governance. We also describe the best practices which are essential for good governance. To materialize the concepts and principles discussed, we present a compelling case study centered on Decentraland. This insightful exploration dissects a decentralized autonomous organization (DAO)-based governance structure, offering valuable insights into the intricacies and stages of governance proposals. We acknowledge both the merits and potential drawbacks inherent to this approach. This chapter aims to offer an all-encompassing view of metaverse governance, essentially serving as a comprehensive roadmap for traversing the multifaceted landscape of this digital frontier.

Василь Іванович Козій

The article is devoted to the investigation of the confiscation of cryptocurrency (virtual assets) during the execution of court decisions in criminal proceedings. The topic of the research is relevant because the cryptocurrency industry is currently more developed than the legal regulation of this area. Equally impressive is the number and methods of committing crimes of illegal possession of cryptocurrency. However, until now there are no studies in Ukraine that would determine at the doctrinal level how to execute a court decision on the confiscation of cryptocurrency. In the process of research, the formal-logical method, as well as the methods of systemic and technical-legal analysis were applied, which made it possible to formulate approaches to the execution of punishment in the form of confiscation of cryptocurrency and the rules of such confiscation. The need to provide at the legislative level for the grounds, procedure and rules for the confiscation of cryptocurrency, as well as its special confiscation, is indicated. The experience of confiscation of cryptocurrency in other jurisdictions is presented and the optimal algorithm and procedure for carrying out such activities is proposed. Cases that may occur in the context of confiscation of cryptocurrency are identified and rules and approaches to such confiscation are formulated.

Тетяна Кулініч, Світлана Джерелейко

Increasing competition, the need to enhance efficiency and transparency of business processes, as well as the requirements to ensure the security and reliability of operations, demand new tools and approaches for automating management and ensuring the sustainability of the enterprise. Currently, it is blockchain and smart contract technologies that are opening up vast opportunities for this. Therefore, the research is aimed at a comprehensive analysis of the features and directions of using blockchain and smart contract technologies for automating management and ensuring the sustainability of the enterprise. Within the research, it has been proven that the use of blockchain and smart contract technologies creates a flexible and secure process for developing conditions and strategies that allow an enterprise to function effectively and remain capable of ensuring its own progressive development even in conditions of high stochasticity, economic turbulence, or crises. It is concluded that among the main directions where the use of blockchain technologies for ensuring enterprise resilience is worthwhile, the following should be highlighted: supply chain management, balanced management, security management, and basic risk management, as well as managing relationships with customers and partners. In unity, these outlined directions establish the principles of automating enterprise management, enhance its ability to function effectively, and direct its progressive development. It is concluded that among the main directions where the use of smart contracts for ensuring enterprise resilience is beneficial, the following should be highlighted: access and security management, remote tracking of resource utilization, automation of production and commercial processes, improvement of customer service, and management of data processing workflows. In unity, these outlined directions establish the principles of enterprise management automation, guiding and expanding the enterprise's capabilities for progressive development. In the context of ensuring enterprise resilience, the goal of applying smart contracts and blockchain technologies can vary. However, the use of these outlined technological solutions should guarantee the enterprise's ability to withstand external and internal influences.

LLP «RT-GROUP», M.M. Bazarov, R.A. Tokatov

The purpose of the study is to study smart contracts, which are one of its main components, which support the main connection between the parties forming social relations, using the innovative technology —blockchain technology. It is focused on the analysis of the formation ofsmart contracts and the peculiarities of legal regulation in domestic and international relations. To form smart contracts, its general concept and specific features, the potential of blockchain technology in forming smart contracts are studied. Priorities and weaknesses of the technological system in the formation of smart contracts are revealed. Foreign experiences have been studied, and the basis of the legislation of Kazakhstan, including civil law legislation, has been studied for the implementation of smart contract formation technology mechanisms. The advantages and disadvantages of smart contracts, which play an important role in the implementation of blockchain technology, are discussed, and the situations that allow them to be prevented are explained. As a result of the research, the legal basis for the introduction of this information and communication technology into the Kazakh legislation was determined. Conclusions about smart contracts, which rapidly develop blockchain technology, are important as scientific research opens the way for legal research in this direction, considering contractual relations in social relations as a tool for improving them. The practical significance of the research will be to increase the efficiency of the measures taken in the formation of smart contracts, to contribute to the development of electronic contractual relations that allow the formation of public relations at a high-quality legal level, and as a result, to create the basis for social and economic development. Research results can be used in the formation of smart contracts, public and quasi-public procurement, public service provision, and many other areas.

Ivan Ivanovich Kiryushin, Igor' Petrovich Ivanov, Viktor Vladimirovich Timofeev, D Yu Zhmurko

This article explores the possibilities of using blockchain technology in police work. Examples of the use of blockchain in various areas of police activity, such as personal data management, control of drug trafficking and other prohibited substances, traffic monitoring and the fight against cybercrime, are considered. The authors note that thanks to the storage of data in the blockchain, it becomes possible to increase the protection of the confidentiality of personal information, ensure transparency and efficiency of police work, as well as prevent fraud and corruption. The conclusion of the article emphasizes that the use of blockchain can improve the work of the police and ensure greater security of citizens. Distributed ledger technology, or blockchain as a service (BaaS) is indeed a relatively new product on the market that allows you to provide blockchain services for corporate clients. This solution allows you to use more reliable and secure methods of data processing and transaction management within the organization. All these economic effects can lead to a reduction in costs and an increase in the efficiency of the police. In general, the use of blockchain technology in the police can have a number of advantages, such as increasing transparency and accountability, reducing data processing time and combating data falsification. However, it is necessary to take into account some risks, such as the possibility of data privacy violations, as well as difficulties in integrating with existing systems and training personnel. In general, the introduction of blockchain technology into the police requires careful analysis and an approach that takes into account all aspects of the use of technology and its impact on the organization.

Ievgen Michurin

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

В.Ю. Легенько

The article is devoted to the study of the current legal regulation of virtual assets in the Hong Kong Special Administrative Region of the People’s Republic of China. The author analyses the advantages and disadvantages of the relevant legal framework, as well as the possibility and feasibility of implementing the most successful solutions into Ukrainian legislation. Due to the lack of in-depth studies that would combine the main regulatory norms and definitions and provide a general overview of this regulatory system, it became necessary to study in detail the current legal system of the Hong Kong Special Administrative Region of the People’s Republic of China, which is characterised by high autonomy from the rest of the PRC, and to identify the institutions that perform the functions of a regulator of virtual assets. Next, the author provide a legislative definition of virtual assets and their classification. Unlike other jurisdictions, the Hong Kong Special Administrative Region of the PRC focuses on the key features inherent in this particular object of civil rights, and excludes from the definition other objects that have similar features but are already regulated separately. The common law system makes it possible to regulate certain aspects of the circulation of virtual assets through precedents, which helps to quickly adapt to changes in this market, where new concepts and civil law relations emerge every few years. For example, it was through precedent that it was determined that cryptocurrencies are property and can therefore be the subject of a trust. Currently, not all objects created on the basis of blockchain technology are subject to regulation, such as non-fungible tokens or central bank digital currencies, as the possibility of their circulation is still being investigated by the Hong Kong Monetary Authority. The article also examines the new nuances of licensing service providers related to the circulation of virtual assets, which require dual licensing under two regimes regulated by separate legal acts. The author concludes that Hong Kong has managed to regulate the circulation of virtual assets in one way or another, but has not managed to create a clear system for all market participants, so it is possible to introduce some solutions into Ukrainian legislation, but in general, this legal regulation system has many disadvantages and sometimes creates legal uncertainty.

Shu Pan, Nurul Izzatul Lydia Binti Za’ba, M. Yaacob

Disputes in the construction industry occur from time to time. The development of the building information model enables the information in the process of project execution in the construction industry to be stored in the same model, which can find appropriate communication channels for disputes between different parties involved in engineering projects. As an emerging technology, Blockchain has received wide attention and is widely used in various fields because of its distributed storage, decentralization, and de-trust characteristics. Furthermore, smart contracts technology provides a new solution to the existing difficulties of disputes in the construction engineering industry from the perspective of replacing traditional contracts. Based on the research of Blockchain and smart contracts technology, this paper analyzes the feasibility of applying Blockchain and smart contracts to contracts management of the construction information model and discusses the implementation plan of combining Blockchain and contracts management of the construction information model with the actual scenario of material supply in the construction industry, choosing Ethereum blockchain platform as the underlying architecture and adopting " The development of smart contracts for construction material supply is carried out by adopting the "on-chain off-chain" data storage and business interaction method, and the specific design and implementation are carried out from the perspectives of system architecture, system deployment, contracts invocation mechanism, and contracts function.

Vasyl Kozii

This study investigated the criminal liability for illegal acquisition of cryptocurrency in Ukraine, which is relevant in connection with the considerable spread of cryptocurrencies and cases of their illegal acquisition, as a result of which significant material damage is caused to the victims. Specifically, this is explained by the collapse of cryptocurrency exchanges and hacker attacks on cryptocurrency wallets. The purpose of this study was to investigate what criminal liability is prescribed for illegal possession of cryptocurrency in Ukraine. The study employed a dialectical approach and methods of system and technical and legal analysis, as well as a formal and logical method. Approaches to understanding the term “cryptocurrency” were defined, and its types were specified. The features of the functioning of blockchain technology were covered. This paper analysed the legal regulation of virtual assets in Ukraine, their relationship with cryptocurrency. It is noted that at its core, cryptocurrency is not a virtual asset and that it is advisable to consider it an electronic asset based on the blockchain – a decentralized public register of all cryptocurrency transactions conducted on the network. Shortcomings in the legal regulation of cryptocurrencies in Ukraine were highlighted, specifically, it was noted that the signs of virtual assets do not fully coincide with the signs of cryptocurrencies. The most common ways of illegal possession of cryptocurrency were specified, and problematic issues of bringing individuals who have come into illegal possession of cryptocurrency to criminal responsibility were outlined. This paper substantiated the impossibility of bringing individuals who have come into illegal possession of cryptocurrency to criminal responsibility in Ukraine, considering the principle of legal certainty and avoiding analogy in criminal law. The necessity of criminalizing illegal possession of cryptocurrency was proved. Practical recommendations on making appropriate amendments to the Criminal Code of Ukraine were formulated. The theoretical value of this study lies in the formation of an approach to the need to criminalize the illegal possession of cryptocurrencies, and its results can be used in law-making activities.

Ірина Слободська, Вероніка Ткаченко

Мета: визначення сфер застосування, меж можливостей та переваг на шляху до впровадження та вдосконалення використання смарт-контрактів, як альтернативі цивільно-правової угоди. Методи дослідження: діалектичний, дедукції, індукції, порівняльно-правового дослідження, системно-структурний, формально-догматичний, метод аналогії, функціональний, порівняльно-правовий, юридичного моделювання. Результати: визначенні сфери застосування, межі можливостей та переваги на шляху до впровадження та вдосконалення використання смарт-контрактів, як альтернативі цивільно-правової угоди. Обговорення: сучасні цивільно-правові відносини, що перейшли у цифрове середовище, адже розвиток технологій та розроблення відповідного правового забезпечення дозволив договірному праву отримати оновлену форму договору, що мають назву «smart contract». Smart contract є економічно вигідним та простішим у аспекті укладання та виконання зобов’язання. Інновація об’єднує в собі взаємодію передових технологій на базі blockchain та цивільно-правових відносин, які почали видозмінюватися завдяки розвитку цифрового середовища. Порівнюючи розумну угоду із традиційним письмовим договором, вбачається ріст використання та впровадження технологій blockachain та розумних угод, які працюють на вищезазначеній технології замість укладання типового письмового договору. У зв’язку з цим виникла необхідність детального розгляду інновації та встановлення шляхів до впровадження та вдосконалення використання смарт-контрактів, як альтернативі цивільно-правової угоди.

Noor Sabah, Ali Makki Sagheer, Omar A. Dawood

The year 2020 has shown the quick spread and devastating effect of Coronavirus (COVID-19) on the world economy, health, and human life. Combating the COVID-19 pandemic is crucial. Blockchain technology can assist in the fight against the COVID-19 pandemic by assuring safe and reliable medical supplies, accurate identification of virus hot spots, and establishing data provenance to verify genuine personal protective equipment that is decentralized, reliable, traceable, and transparent. A major proportion of current healthcare systems are centralized and are short on privacy and information necessary for the detection of fraud connected to the certification by the COVID-19 vaccine. The quick vaccination rollout and the deployment of a global vaccination campaign are crucial and dependent on the availability of transparent and operational distribution chains, which may be audited by all the necessary parties. Blockchain technology might also be used to assure transparent monitoring, storage, and distribution of COVID19 vaccinations. Smart contracts are built for monitoring and tracking the proper circumstances of vaccine distribution in comparison to safe handling of vaccine producers, informing all network peers. This study aims to investigate the effectiveness of block chain and smart contracts in the health care system. The article presents a model of the decentralized infrastructure of the health care system. The blockchain and intelligent contract technology provided has shown promising results. The proposed solution is economically feasible and ensures data integrity, security, transparency, and traceability. Future work aims to expand the functionalities of smart contracts and the blockchain technology.

Олександр Сергійович Омельчук, О. С. Омельчук, Александр Сергеевич Омельчук, Oleksandr Serhiyovych Omelchuk · 13 authors

The article analyzes the legal nature and specific of legal regulation of cryptocurrency in order to reveal the features of inheritance of cryptocurrency assets. The article aims to reveal whether it is possible to inherit cryptocurrency in terms of the existent legislation and if so, what kind of peculiarities of cryptocurrency should be considered. The financial and legal nature of cryptocurrency are described in the article. The main differences between cryptocurrency and traditional electronic money are revealed. The current legislation of Ukraine and some European countries on cryptocurrency legal status is analyzed. It is stated, that in most countries of the world, cryptocurrency is not considered to be money or currency, but rather a kind of property. It is noted, that while solving the issue of inclusion of cryptocurrency assets in the legacy, it is necessary to take into account the functional features of cryptocurrencies in general and the specifics of a particular type of cryptocurrency. Most of the benefits of cryptocurrencies for their owner (such as anonymous character) are obstacles to their inheritance according to the procedures provided by applicable law. The classification of the methods of inheritance of cryptocurrency assets is made in the article. The differences in the inheritance of cryptocurrency and tokens are revealed.

Nikolaos Evangelatos, Vural Özdemir, Angela Brand

An open distributed ledger system, blockchain records digital transactions and offers the potential to disruptively transform the way we conduct biomedical research, provide health care, and perform economic transactions. This expert review provides the overarching background, key definitions, prospects and socio-technical challenges at the intersection of blockchain and digital health. In addition, we discuss the tenets of next-generation technology policy for blockchain, drawing from the field of responsible innovation.

Yaolin Zhang

Abstract This article sets out a regulatory framework that facilitates blockchain cross-border financial transactions and examines how this framework can be implemented in the context of the Belt and Road Initiative (BRI). With increasing globalization and international trade, cross-border financial transactions are set to grow rapidly, especially across the Eurasian region.1 There are currently many challenges facing such transactions, from slow payment systems and different technical standards to varying legal and compliance systems.2 These challenges may be redressed by blockchain, which offers an efficient solution to the current mechanisms adopted in cross-border financial transactions. Currently, there are many experimental initiatives that seek to implement this technology to multiple fields, including remittances, clearance, and settlements.3 However, few researchers have considered in detail how this technology should be regulated in the BRI context. This article will be one of the first in-depth analyses of how laws and regulations can be applied to facilitate cross-border blockchain payments in the BRI context.

Lenka Franče Rejzková

Development of disruptive IT within the frame of Czech legislation Abstract New information technologies, such as biometric technologies, distributed ledger technology, cloud computing, the internet of things and virtual reality, are increasingly transforming our way of live. Technologies that radically transform our society are referred to as "disruptive technologies". This thesis focuses on the main application of disruptive information technologies, which is the use of artificial intelligence. The first part of thesis presents the issue, explains the basic concepts and differences between augmented intelligence, special artificial intelligence and general autonomous artificial intelligence. Furthermore, it summarizes the Czech legislation reflecting current technological developments. The summary of the most important aspects of the current legislation is a prerequisite to identify its limits and shortcomings in order to analyze the challenges that need to be taken into account when proposing appropriate future legislation. The aim of the thesis is to identify and present the main challenges that the development of disruptive information technologies brings to the Czech legislation. These challenges include the ethical and philosophical grounding of disruptive information technology, which determines...

Viktoriia Ivaniuk, Serhiy Banakh

Cybercrime, including cryptocurrency-related cybercrime, has become widespread in recent years. Despite a thorough study of cybercrime issues, there is still no legislative position on the legal regulation of cryptocurrencies and the responsibility for cryptocurrency-related cybercrime in Ukraine. The authors classify and characterize all cryptocurrency-related cybercrimes into five groups. In view of the spread of cryptocurrency-related cybercrimes, the EU’s counteraction measures have been analyzed. Ways to prevent and counteract to cryptocurrency-related cybercrimes in Ukraine are suggested.

R.L. Sopilnyk

The article examines the legal aspects of applying blockchain technologies in the field of legal application and public administration. The concept and technical characteristics of distributed ledger technology (DLT) as the basis of blockchain are analyzed and its legal significance for ensuring immutability, transparency and verifiability of legally significant data is determined. The practice of applying blockchain technologies in the system of state registers of Ukraine is examined, in particular the implementation of distributed ledger technology in the State Register of Real Property Rights and in the electronic auction system ProZorro.Sales, as well as the pilot project of the Central Election Commission regarding the use of blockchain for recording electronic voting results. The legal nature of smart contracts as a type of agreements that are automatically executed upon the occurrence of specified conditions is considered, and their relationship with the institution of contract in civil law in accordance with the provisions of the Civil Code of Ukraine of January 16, 2003, is determined. The Law of Ukraine "On Virtual Assets" of February 17, 2022 (signed by the President on March 15, 2022), is analyzed and its significance for the legalization of blockchain infrastructure in Ukraine is determined. The necessity of forming a comprehensive legal framework for the application of blockchain technologies in legal practice is substantiated, including the normative definition of the legal status of blockchain records, the procedure for their use as evidence in court proceedings, the legal qualification of smart contracts as a type of agreement and liability for errors in their program code, taking into account the potential of blockchain for enhancing transparency and trust in state institutions.

V. M. Kamalyan

No abstract is available for this record.

Taras Bachynskyy, Roman Radeiko

Abstract This study develops a review of Blockchain legal regulations in Ukraine. The authors analyze use of Blockchain technology in administration and provision of public services in modern Ukraine. It is stressed that the illegal status of Blockchain and cryptocurrency in Ukraine is a barrier to the full use of these instruments in all spheres of modern life in Ukraine. The caselaw in the field of cryptocurrency use is analyzed.

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.

Leskiv Solomiia

No abstract is available for this record.

Valeriia Dyntu, Валерія Аркадіївна Динту, Valeriia Dyntu

Dyntu V. A. The roots of cryptocurrencies / V. A. Dyntu // Правові та інституційні механізми забезпечення розвитку України в умовах європейської інтеграції : матеріали Міжнародної науково-практичної конференції (м. Одеса, 18 травня 2018 р.) У 2-х т. Т. 2 / відп. ред. Г.О. Ульянова. – Одеса : Видавничий дім «Гельветика», 2018. – С. 388-392.