Application of the Blockchain Technology in Smart Contracts: Legal Analysis

2020 ◽  
pp. 140-144
Author(s):  
Chunhsien Sung
Keyword(s):  
Smart Contracts ◽  
Legal Analysis ◽  
Blockchain Technology

scholarly journals Application of Distributed Ledger Technology for Settlements by Letters of Credit

2020 ◽  
Vol 15 (6) ◽  
pp. 64-72
Author(s):  
L. G. Efimova
Keyword(s):  
Financial Intermediaries ◽  
Smart Contracts ◽  
Legal Analysis ◽  
Letter Of Credit ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Smart Contract ◽  
Distributed Ledger Technology ◽  
New Form ◽  
Letters Of Credit

The paper carries out a legal analysis of three models of settlements by letters of credit with the use of distributed ledger technology. First, this refers to the model of settlements that uses blockchain as a way of transferring documents under the letter of credit. Second, the author investigates the model of settlements where two smart contracts are used. In the author’s view, such smart contracts should be seen as a way of executing the contracts that, in practice, form the settlement procedure with the use of letters of credit. Third, the most interesting is the settlement model where the payer and the recipient of funds (payee) enter into one smart contract that provides non-cash settlements between them with the use of the P2P service. There is no financial intermediary that organizes non-cash settlements in this settlement model. This difference makes it possible to conclude that settlements similar to settlements with the use of letters by credit via blockchain technology and carried out on the principle of P2P, should be considered as a new form of non-cash settlements. The peculiarity of this form of non-cash settlements is the opportunity given to direct participants of the settlement to fulfil their monetary obligations without using cash and without any assistance of financial intermediaries.

scholarly journals Third Party Certification of Agri-Food Supply Chain Using Smart Contracts and Blockchain Tokens

Sensors ◽  
2021 ◽  
Vol 21 (16) ◽  
pp. 5307
Author(s):  
Ricardo Borges dos Santos ◽  
Nunzio Marco Torrisi ◽  
Rodrigo Palucci Pantoni
Keyword(s):  
Supply Chain ◽  
Mobile Application ◽  
Consumer Behaviour ◽  
Economic Incentives ◽  
Third Party ◽  
Smart Contracts ◽  
Proof Of Concept ◽  
Socially Responsible ◽  
The Public ◽  
Blockchain Technology

Every consumer’s buying decision at the supermarket influences food brands to make first party claims of sustainability and socially responsible farming methods on their agro-product labels. Fine wines are often subject to counterfeit along the supply chain to the consumer. This paper presents a method for efficient unrestricted publicity to third party certification (TPC) of plant agricultural products, starting at harvest, using smart contracts and blockchain tokens. The method is capable of providing economic incentives to the actors along the supply chain. A proof-of-concept using a modified Ethereum IGR token set of smart contracts using the ERC-1155 standard NFTs was deployed on the Rinkeby test net and evaluated. The main findings include (a) allowing immediate access to TPC by the public for any desired authority by using token smart contracts. (b) Food safety can be enhanced through TPC visible to consumers through mobile application and blockchain technology, thus reducing counterfeiting and green washing. (c) The framework is structured and maintained because participants obtain economical incentives thus leveraging it´s practical usage. In summary, this implementation of TPC broadcasting through tokens can improve transparency and sustainable conscientious consumer behaviour, thus enabling a more trustworthy supply chain transparency.

scholarly journals On Smart Contracts and Organisational Performance: A Review of Smart Contracts through the Blockchain Technology

2018 ◽  
Vol 11 (2) ◽  
pp. 137-156 ◽  
Author(s):  
Zaheer Allam
Keyword(s):  
Popular Culture ◽  
Resistance To Change ◽  
Business Management ◽  
Smart Contracts ◽  
Business Sector ◽  
Organisational Performance ◽  
Blockchain Technology ◽  
Management Processes ◽  
Common Notion ◽  
The Common

AbstractAs the Blockchain technology is gaining momentum in popular culture through Cryptocurrencies, its full implication and application to businesses, on a concrete and factual level, is still seen to be in its infancy stage. While the technology provides numerous advantages regarding stability, trust, speed and others, the robustness of the technology is not widely disseminated. This is further coupled by the common notion of resistance to change in business management processes. This paper explores the concept of Smart Contracts through the blockchain technology and its relevance to the business sector and further outlines the advantages and limitations of its applicability as of date.

scholarly journals Sharing communities – Community currency in the sharing economy

2020 ◽  
Author(s):  
Eszter Szemerédi ◽  
Tibor Tatay
Keyword(s):  
High Speed ◽  
Essential Element ◽  
Sharing Economy ◽  
Ease Of Use ◽  
Smart Contracts ◽  
Efficient Operation ◽  
Blockchain Technology ◽  
Community Currency ◽  
Efficient Alternative ◽  
Further Development

AbstractFor the further development and more efficient operation of the sharing economy, a fast and inexpensive peer-to-peer payment system is an essential element. The aim of this study is to outline a prototype that ensures the automation and decentralization of processes through smart contracts without blockchain technology. The model has been built based on the narrative that a community currency created through smart contracts can promote genuine practices of sharing as opposed to the profit-oriented approach that most of the currently operating sharing economy platforms have. Features of the model, such as ease of use, high-speed transactions without transaction cost are benefits that can provide a more efficient alternative to the traditional or to the cryptocurrency-based centralized sharing economy platforms.

scholarly journals Blockchain Beyond Cryptocurrency: Non-Fungible Tokens

2021 ◽  
Author(s):  
Burcu Sakız ◽  
Ayşen Hiç Gencer
Keyword(s):  
Business Models ◽  
Disruptive Innovation ◽  
Peer To Peer ◽  
Smart Contracts ◽  
Blockchain Technology ◽  
Wide Range ◽  
Peer Network ◽  
Work Mechanism ◽  
Distributed Networking ◽  
Peer To Peer Network

Blockchain technology is a disruptive innovation with the potential to replace existing business models that rely on centralized systems and third parties for trust. Even if there are a lot of application areas, blockchain used primarily for cryptocurrencies. Satoshi Nakamoto implemented the first blockchain application and invented the world’s first digital currency which is named as Bitcoin in 2008. Fundementally Bitcoin relies on cryptographic “proof of work” mechanism, digital signatures, and peer to peer distributed networking layer in order to provide a distributed ledger holding transactions. In 2014, a second generation of blockchains allow to program and execute them over distributed networks such as Ethereum project. The code to program any asset stored in blockchain’s peer-to-peer network is called as "smart contract" and smart contracts gives a powerful tool to developers for decentralized applications. There are various types of tokens that anyone can built on top of Ethereum and by combining smart contracts and new tokens, this paved the way of possibility to build a wide range of decentralized projects. One of the disruptive blockchain based innovation impacting intellectual property is called non-fungible-tokens or NFTs firstly introcuced in late 2017 on Ethereum network. This research contends that blockchain and non-fungible tokens (NFTs) which are cryptographically unique, scarce, non-replicable digital assets created through smart contracts and provably digital collectible assets. Our objective is to give NFT taxonomy, review NFT platforms and discuss technical challenges as well as recent advances in tackling the challenges. Moreover, this paper also aims to point out the future directions for NFT technology.

scholarly journals IMPLEMENTATION OF DIGITAL TECHNOLOGIES IN HUMAN RIGHTS TO HEALTHCARE

2020 ◽  
Vol 73 (7) ◽  
pp. 1539-1544
Author(s):  
Volodymyr V. Marchenko ◽  
Inna I. Kilimnik ◽  
Alla V. Dombrovska
Keyword(s):  
Human Rights ◽  
Digital Technologies ◽  
European Convention ◽  
Structural Method ◽  
Legal Analysis ◽  
The European Union ◽  
Blockchain Technology ◽  
European Court ◽  
Analysis And Synthesis ◽  
Protection Of Human Rights

The aim: The aim of the study is to examine the blockchain technology in the field of healthcare, to analyze the principles of the European Convention on Human Rights regarding respect for private and family life, home and correspondence, to analyze the key positions of the European Court of Human Rights (hereinafter – ECHR) in the field of human rights to privacy, to analyze the European Union (hereinafter – EU) secondary legislation regarding the supply of medicines, prospects for the blockchain usage in order to protect human rights to privacy and improve the quality of medicines. Materials and methods: Scientific works that are devoted to the outspread of digital technologies in healthcare, the provisions of the European Convention on Human Rights, the ECHR’s practice on the protection of human rights to privacy, the provisions of the EU secondary legislation that regulate the supply of medicines are studied. The methodology of this article is based on comparative and legal analysis techniques and includes system-structural method, method of generalization, method of analysis and synthesis as well. Conclusions: The blockchain technology in medicine and pharmacology will increase the level of protection of human rights to healthcare quality.

The application of Blockchain technology in Copyright field: formalities and “smart contracts”

2021 ◽  
Author(s):  
Evangelia Kokotsaki ◽  
Galateia Kapellakou ◽  
Anastasios Giannaros ◽  
Spyros Sioutas
Keyword(s):  
Smart Contracts ◽  
Blockchain Technology

Blockchain Technology - Based Solutions for IOT Security

2022 ◽  
pp. 53-63
Author(s):  
Israa Al_Barazanchi ◽  
Aparna Murthy ◽  
Ahmad AbdulQadir Al Rababah ◽  
Ghadeer Khader ◽  
Haider Rasheed Abdulshaheed ◽  
...  
Keyword(s):  
Data Privacy ◽  
Smart Contracts ◽  
Iot Security ◽  
Security Issues ◽  
Iot Applications ◽  
Blockchain Technology ◽  
Private Data ◽  
Long Time ◽  
It Applications

Blockchain innovation has picked up expanding consideration from investigating and industry over the later a long time. It permits actualizing in its environment the smart-contracts innovation which is utilized to robotize and execute deals between clients. Blockchain is proposed nowadays as the unused specialized foundation for a few sorts of IT applications. Blockchain would aid avoid the duplication of information because it right now does with Bitcoin and other cryptocurrencies. Since of the numerous hundreds of thousands of servers putting away the Bitcoin record, it’s impossible to assault and alter. An aggressor would need to change the record of 51 percent of all the servers, at the precise same time. The budgetary fetched of such an assault would distantly exceed the potential picks up. The same cannot be said for our private data that lives on single servers possessed by Google and Amazon. In this paper, we outline major Blockchain technology that based as solutions for IOT security. We survey and categorize prevalent security issues with respect to IoT data privacy, in expansion to conventions utilized for organizing, communication, and administration. We diagram security necessities for IoT together with the existing scenarios for using blockchain in IoT applications.

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