Blockchain Papers

Morgan N. Temte

The blockchain cannot be described just as a revolution.It is a tsunami-like phenomenon, slowly advancing and gradually envel oping everything along its way by the force of its progression. 1* J.D. Candidate, University of Wyoming College of Law, Class of 2020.I would like to thank the hard-

Mateja Đurović, Franciszek Lech

The development of new technologies has different effects on the existing law. Smart contracts are one of the forms of the new technologies that questions the application of the traditional contract law on commercial transactions using smart contracts. In that context, the enforceability of contractual transactions concluded in the form of smart contracts represent one of the major legal questions. Moreover, the question is whether the existing English contract law needs to be modified in order to secure the enforceability of smart contracts. These issues will be, accordingly examined in this paper with the aim to understand better the relationship of the traditional contract law, on the one side, and, smart contracts, on the other side.

Eliza Mik

No abstract is available for this record.

Irina Y. Glazkova, Dorota Kozioł-Kaczorek, Sergey Shmatko

Digital technologies have a number of advantages that contribute to the development of the economy and make it more transparent. Some of the main features of modern digital technologies are speeding up business processes, reducing costs, eliminating the possibility of fraud, ensuring the transparency of the system and the ability to check and analyze the system. Regardless of whether a commercial or government organization uses the technology, in any case, there is a wide range of possibilities of its application. One of these technologies is blockchain. A blockchain is a distributed database in which storage devices are not connected to a shared server. This database stores an ever-growing list of ordered records called blocks. Each block contains a timestamp and a link to the previous block. The article defines a smart contract, describes the main areas of its application and provides processes similar to smart contracts, but working outside the blockchain. We also consider some of the risks that arise when working with smart contracts.

Valeriy A. Tsvetkov, Anatoliy Shutkov, Mihail Nikolaevich Dudin, N. V. Lyasnikov

In this article, the authors review and analyze the features of functioning and development of a new financial market segment - the cryptocurrency market or electronic cash (specific digital assets). At present, the cryptocurrency segment (and digital financial assets at large) cannot be recognized as a formal institution, since there is no legal framework in this area, and informal interaction regarding the creation and circulation of cryptocurrencies is not an established social and financial-economic phenomenon. The analytic comparison using discount methods allows to a certain extent to evaluate the effectiveness and feasibility of e-cash issuance from the viewpoint of physical persons. The authors identify the main directions in institutionalizing the cryptocurrency segment of the financial sector of the national economy and substantiate the need for legal recognition of cryptocurrencies in the status of digital goods, which in turn involves the need to improve the Russian Federation legal framework.

Jeroen Naves, Benedetta Audia, Marjolein Busstra, Koen Lukas Hartog · 7 authors

In the first half of 2018, the United Nations Office for Project Services and Blockchainpilots.nl, the Dutch government's pilot Blockchain program, brought together a group of legal and Blockchain experts from The Netherlands, Singapore, and the United States to produce a research volume offering an introduction to the legal aspects of Blockchain.

Qiuyun Shang, Allison Price

The challenge for countries without adequate land management is not simply to build a land registry system but to create a system that is trustworthy, efficient, and free of corruption. According to Transparency International, 20 percent of land service users worldwide admitted that they have paid a bribe in order to register their property or verify land ownership information. 4 . This reduces the efficiency of service delivery and undermines public trust in the

Anne Lafarre, Christoph Van der Elst

Blockchain applications have largely been short-lived phenomena in the (classical) corporate governance arena over the past few years. However, at the same time, blockchain has also found its place in addressing agency problems in modern organizations, such as Decentralized Autonomous Organizations (DAOs), offering valuable opportunities to eliminate classical inefficiencies. After a brief introduction to the agency problem and its associated costs in corporations, this chapter explores blockchain technology as a potential solution to this issue. Furthermore, the chapter delves into these DAOs, which, at least in theory, eliminate the agent and its accompanying problem while incorporating artificial intelligence. In the governance of more traditional corporations, blockchain should also be considered a useful tool for overcoming several agency problems and inefficiencies. However, regulatory burdens, uncertainties, as well as concerns related to accountability and other associated costs and interests, slow down the adoption of blockchain in the corporate law and governance environment.

M. M. Dolgieva

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Louis-Daniel Muka Tshibende

Abstract: Considering that the internationality of a contract as well as its national character opens up opportunities for the contracting parties, particularly in the domains of dispute settlement mechanisms and applicable Law that they can eventually opt for, the present contribution analyses legal issues resulting from the fact that parties are nevertheless submitted to an obligation to comply with mandatory provisions and public policy rules depending on the location of some key elements of their agreement. This applies, even though it is about smart contracts and blockchain technologies. This article focuses on property and security rights issues (: defective title, informational defects and viruses … ) in the context of the Civil Law tradition. Résumé: Considérant que le caractère international d’un contrat, aussi bien que son caractère national, ouvrent des opportunités pour les parties contractantes, particulièrement dans les domaines de mécanismes de résolution des litiges et de loi applicable qu’elles peuvent éventuellement choisir, la présente contribution analyse les questions juridiques résultant du fait que des parties sont néanmoins tenues de respecter des dispositions obligatoires et de règles de politique d’intérêt général dépendant du lieu de certains éléments-clés de leur contrat. Ceci s’applique même s’il s’agit de contrats intelligents et de technologies de la blockchain. Le présent article se concentre sur des questions de droits de propriété et de sécurité (: défectuosité, défauts informationnels et virus … ) dans le contexte du droit civil traditionnel.

Lei Chen, Jia Wang

Abstract: This article explores whether the legal landscape will be fundamentally changed in view of the emergence of smart contracts in China. Beyond the phenomenon of bitcoin supported by blockchain technology, we examine the development of smart contracts on blockchain with a close scrutiny of their merits and limits, and the intrinsic legal uncertainties in their application. The main argument is that while the gaps between the regulatory framework and the business practice can be identified, for most parts, the current legal framework can accommodate or mitigate the legal risks brought about by smart contracts. Résumé: Cet article pose la question si le paysage juridique sera fondamentalement changé par l’émergence des contrats intelligents en Chine. À part du phénomène du Bitcoin qui s’appuie sur la technologie Blockchain, nous examinons le développement des contrats intelligents en Blockchain avec une étude approfondie de leurs mérites et limites ainsi que les incertitudes légales qui sont intrinsèques à leur application. L’argument principal est que, bien qu’on puisse identifier des différences entre le cadre réglementaire et la pratique d’affaires, le cadre juridique contemporain peut, pour la plupart, accommoder ou mitiger les risques légaux causés par les contrats intelligents.

Irina Mitrofanova

Introduction: currently, the whole world is experiencing tremendous changes in connection with the transition to the information society. This work is devoted to the challenges faced by contract law. The aim of this work is to study the theoretical and practical problems of the legal regulation of "smart" contracts. Methods: the methodological framework for the study is the dialectical method of cognition, which assumes the comprehensiveness, objectivity and interconnectedness of the studied phenomena; the general scientific methods of cognition (analysis, synthesis, hypothesis, analogy, etc.); the comparative law and functional methods. As a result of the study, the main problems arising in the legislative regulation of "smart" contracts were grouped. The technical ones include: the problem of describing the conditions in the artificial language, obtaining the data from the real world by the system, the reliability of the input data, the system errors, the speed of transaction processing, the inability to maintain the complete confidentiality of the operations. The legal problems include: the complexity of the contract verification by a lawyer, the lack of control of transactions by the state and tax authorities, the possibility of illegal transactions, the complexity of proving the fact of the contract, the definition of the applicable law, remedies. The legislation of some foreign countries, which is also under development, is analyzed. The analysis of the draft law "On Digital Financial Assets" shows that the document does not satisfy the requests for the legal regulation of the digital economy. In the definition, there is no indication that a "smart" contract is written in the artificial language, the turnover of the crypto currency is significantly limited. It is concluded that a "smart" contract is now rational to use as part of a paper contract for simple transactions with the measurable conditions. The draft law "On Digital Financial Assets" needs the significant improvement to simplify the turnover of digital assets and the development of the institution of "smart" contracts.

Cristina Poncibò, Larry A. DiMatteo

Abstract: Smart contracts provide a quandary for contract law remedies. The self-enforcing nature of smart contracts implies that there is little possibility for breach and thus, little need or opportunity to apply contract law remedies. This article explores if this is really the case. It concludes that contract law remains applicable to smart contracts relating to the enforceability of its terms based on legality, public policy, and contracts policing doctrines. In such cases, post hoc judicial or arbitral claims remain likely and the dispute resolution bodies would seek to apply contract remedies. In order to diminish instances of litigation or arbitration the smart contract should include self-remedying or internal measures (remedies). The article divides internal measures into proactive and reactive measures. These measures should be considered in the drafting of a smart contract in order to diminish resort to contract remedies. In the end, contract law and contract remedies will remain important as default law. In addition, like smart contracts, some of contract law rules are immutable and cannot be made obsolete by blockchain technology.

Oscar Borgogno

Abstract: The success of smart contracts based on distributed ledger technology (DLT) springs from their potential to secure contract performance when traditional legal enforcement remedies are not practical or too costly. EU policymakers and regulators have struggled for years to facilitate the enforcement of consumer rights while reducing transaction costs for businesses. The article argues that smart contracts can be a viable tool to address such a challenge. By virtue of their self-executing and tamper-proof character, smart contracts are suited to substantially reduce transaction costs in B2C relationships. So far, several legal scholars have raised concerns regarding both smart contracts inability to reflect relational aspects of contract governance and the augmented complexity generated by the translation of an agreement into computer code. Building upon the extant literature on the topic, the article explains why these problems can be overcome when it comes to consumer rights that are standardized and easily verifiable. Thus, smart contracts will likely prove suitable for specific industries, such as the transport sector. The article concludes that policy makers and regulators shall take the lead by testing, with a sector-specific approach, smart contracts ability to improve the consumer protection toolbox.

André Janssen, Mateja Djurovic

Abstract: This contribution examines the formation of (blockchain-based) smart contracts. The term smart contract is used to refer to software programmes which are often, but not necessarily, built on blockchain technology as a set of promises, specified in digital form, including protocols within which the parties perform on these promises. It is regularly said that smart contracts are neither legal contracts in the traditional sense nor they are smart and that the term is therefore a misnomer. The crucial question this article is trying to answer is whether the traditional common law concept of contract formation is seriously challenged by the rise of smart contracts. As such, are smart contracts marking the end of contract formation as we know it or is it just much ado about nothing? Résumé: Cette contribution examine la formation de contrats intelligents (basés sur la blockchain). Le terme de contrat intelligent est utilisé pour faire référence aux programmes de software qui sont souvent, mais pas nécessairement, conçus sur la technologie de la blockchain comme un ensemble de promesses, spécifiées sous forme digitale, comprenant des protocoles au sein desquels les parties accomplissent ces promesses.On a souvent dit que les contrats intelligents ne sont ni des contrats juridiques au sens traditionnel ni intelligents et que le terme est donc inapproprié. La question cruciale à laquelle le présent article tente de répondre est de savoir si le concept traditionnel dans la common law de la formation du contrat est sérieusement mis au défi par l’arrivée des contrats intelligents. Comme tels, les contrats intelligents marquent-ils la fin de la formation des contrats telle que nous la connaissons ou ne s’agit-il finalement que de ‘beaucoup de bruit pour rien’?

E. L. Sidorenko

The paper focuses on the definition of the legal status of the cryptocurrency in the framework of the current Russian legislation. The subject of the research is the principal scientific and practical approaches to determining the object of civil rights and the object of acquisitive crimes in terms of their adaptability to cryptocurrencies. The purposes of the work were the search for a universal algorithm for resolving civil disputes related to the turnover of the crypto currency, and the qualification of the virtual currency theft (fraud). By using historical, comparative legal and dialectical methods as well as the content analysis method parallels between cryptocurrencies and individual objects of civil rights (a thing, property rights, other property) were drawn, and a number of options for qualifying the actions related to the non-repayable withdrawal of the cryptocurrency were proposed. Finally, the paper analyzes the draft laws prepared by the RF Ministry of Finance and the Central Bank of the Russian Federation and presents the author’s vision of the prospects for legalizing the cryptocurrency as an object of civil rights.

Yahaya Saidu, Shuaibu Yau, Daniel Tonye Oyefidein, Aliyu Garba · 5 authors

As cities become more digitally governed, centralized infrastructures face growing risks across identity, safety, and data domains. This chapter reframes blockchain as a foundational trust protocol for urban resilience, emphasizing its core features: immutability, decentralization, transparency, and consensus, as tools to address systemic privacy and security challenges. It explores blockchain's role in securing digital identities, logging infrastructure events, and enabling auditable governance. Real-world deployments in land registries, voting, procurement, and incident response, especially in Asia and Europe are analyzed. Privacy-preserving techniques like zero-knowledge proofs and decentralized identity are also examined. The chapter highlights integration hurdles such as interoperability, regulatory gaps, and ethical tensions, while outlining emerging trends like Blockchain 4.0, quantum-safe cryptography, and DAO-led civic participation. It offers a roadmap for decentralized citizen-centric governance in smart cities.

T.V. Shatkovskaya, A. B. Shumilina, Gennady Nebratenko, Ju.I. Isakova · 5 authors

The article is dedicated to investigate the problem of influence of cutting edge digital technology on the virtual and real legal relations, related to the movement and the turnover of intellectual property.Using the method of analyzing modern definitions of blockchain, and relying on the political-economic theory of social redistribution of wealth, authors define the term blockchain and its principles as a technological paradigm.Authors conclude the fact that blockchain can be used to guarantee intellectual property rights and it should be accepted at the national level.As a mechanism of a trusted environment, blockchain allows to reduce transaction costs and increase the level of commercialization of intellectual property.

I. D. Buldin, Mikhail Gorodnichev, S. S. Makhrov, Elena Denisova

The article presents a study in the field of development of next generation industrial blockchain-based wireless sensor networks. These sensor networks allow you to transfer and store data in accordance with the concept of the blockchain, ensuring the immutability of data and the use of smart contracts. A model of blockchain capable of working in the networks of the Internet of things, part of which are wireless sensor networks, has been developed.

김이수

No abstract is available for this record.

Alexey Finogeev, Sergey Vasin, Leyla Gamidullaeva, Данила Парыгин

The paper covers the issues of development of a mechanism for ensuring reliable and secure interaction among participants in regional innovation systems based on the establishment of smart contracts in the blockchain. The technology allows to reduce the possibility of fraud by dishonest participants, as well as to exclude the need for a third party by transferring its functions to a smart contract. This mechanism is important for ensuring confidential and transparent relations between participants in innovative projects, as well as with all interested stakeholders in regional economic system.

Andrii Martyn

The key features of the blockchain databases, such as decentralization, distribution, security, and record of the history of all transactions, create significant prospects for their application in the field of cadastre and real estate registration activities, including creation of the global real estate cadastre infrastructure, which will be able to go beyond national legal systems and jurisdictions. The conceptual approach to registration of land plots as spatial objects using blockchain technology is proposed. The land plot should be considered as a combination of smart contracts between landowners, surveyors, appraisers, notaries and other persons. The subject of such contracts will be the description and establishment of spatial (plot boundaries, territorial zones, etc.) and other (property rights and encumbrances, monetary valuation, soil bonitet, etc.) characteristics of land plots. The classification of such smart contracts reliability is also presented.

Florian Idelberger

Blockchain technology and ‘smart contracts’ are widely debated in many industries, but especially among legal professionals and academics. Some practical legal questions can be answered relatively quickly or have to be postponed by ‘we do not know’ or ‘it depends’. More interesting than those considerations, however, is whether the emergence of smart contracts based on blockchain technology as a technological materialisation of connected contracts raises issues for the conceptualisation of transnational contract law and what a new conceptualisation, taking into account these issues, could look like. To this end, this contribution tries to acknowledge or incorporate existing work in the area of technology and law such as ontologies, legal reasoning and simple markup languages, but then goes beyond that and tries to explore a sociolegal concept of smart contracts that incorporates the sociological concept of networks by Latour and the system-theoretical approaches of Luhmann with the descriptions of ‘connected contracts’ by Teubner, ultimately incorporating them into the aforementioned ‘ technological materialisation’ of the network structure of law generally and connected contracts specifically. This then can serve as an important methodological tool for the future, to research and describe ‘smart contracts’ at a higher level of abstraction. INTRODUCTION Certain contractual agents, also called ‘smart contracts’, running on blockchain technology have gained increasing importance due to promising increased automation and assurance for digital contracting, aiming to bridge law and soft ware code. Thus, this contribution investigates these phenomena, recognising that these developments are potentially game-changing for commerce and further digitalisation of contract law. To this end, ‘smart contracts’ and the systems they are running on are analysed with regard to developments of ‘connected contracts’ and a network(ed) understanding of contract law already developed for newer contractual and company law constructs such as just-in-time production. In order not to limit the examination to ‘traditional’ manufacturing networks but to re-investigate the phenomenon of networks in law more generally, this is complemented by taking account of socio-legal descriptions of networks and law, as well as providing a brief account of current or past alternative approaches to bridge law and technology that are relevant for context and understanding.

Kim Seung Rae

No abstract is available for this record.