A legal framework for blockchain technology in Brazil

2020 ◽  
Author(s):  
Rodrigo Cardoso Silva
Keyword(s):  
Legal Framework ◽  
Blockchain Technology

scholarly journals CONCEPT OF VIRTUAL CURRENCIES IN MODERN ECONOMIES

2018 ◽  
Vol 1 (10) ◽  
pp. 63
Author(s):  
Inta Kotane
Keyword(s):  
Future Development ◽  
Early Stage ◽  
Legal Framework ◽  
Legal Regulation ◽  
Scientific Publications ◽  
Virtual Currency ◽  
Blockchain Technology ◽  
Stage Of Development ◽  
The Future ◽  
The Media

In recent years, development of blockchain technology and virtual currencies (VCs) have been followed not just by the media and industry professionals all over the world – there rarely could be found a person who has not ever heard the term ‘bitcoin’. Despite the popularity of VCs, there is a lack of comprehensible information in the Latvian language about what the virtual currency (VC) is, as well the concepts of digital and VCs are often misused as synonyms. The research is based on the analysis of special literature and scientific publications on the system of VCs. The aim of the research: to explore the concept of VCs in the modern economy. General scientific research methods are used in the research: the method of monographic or descriptive research, the comparative analysis method for studying the concept of VCs, the classification, legal regulation, and future development possibilities. The results of the research show that VCs are a type of digital currency, though, the opposite statement is not correct. Thus, all VCs are digital, but not all digital currencies are virtual. Exploration of the legal framework of VCs suggests that it is at an early stage of development. With the increasing number of VCs and along with strengthening of the legal framework of VCs, the issue of possible directions of the future development of VCs is raised. Two points of view dominate: the future currency or payment system, for example, smart contracts.

scholarly journals National Digital Currency as a Factor of the Russia’s Economic Revival

2019 ◽  
Vol 12 (1) ◽  
pp. 30-36 ◽  
Author(s):  
V. V. Grigoriev
Keyword(s):  
Legal Framework ◽  
Domestic Economy ◽  
Goods And Services ◽  
Paper Money ◽  
Advantages And Disadvantages ◽  
Digital Currency ◽  
Blockchain Technology ◽  
Current State ◽  
The Government ◽  
Definition Of

The past decade has highlighted the increasing role of virtual electronic digital currency in the financial sphere. This currency is now performing the functions of investment, storage and accumulation rather than solely the function of measuring the value of goods and services. Thus, the virtual digital currency has come to implement all basic functions of paper money.The purpose of the paperwas to put forward the thesis of the feasibility of introduction in Russia of a new virtual national digital currency operating on the basis of the blockchain technology, which will significantly revitalize the domestic economy. The paper provides the definition of the virtual digital currency and its types, discusses its advantages and disadvantages, gives a brief overview of the experience of using this currency in Russia and abroad, shows the current state of cost capitalization of the virtual digital currency and describes the legal framework for the virtual digital currency application. The paperconcludesthat rather than forbidding the crypto currency, there are all the reasons to arrange the issue and circulation of an officially accepted type of a virtual national digital currency that would give a powerful impetus to the development of all spheres of the country’s economy. Special attention is paid to the mechanism of the national digital currency operation with the government participation. Every citizen will be able to get a salary in a few seconds, buy everything he wants, invest in any project. Records of transactions in the user’s personal digital electronic purse will completely relieve him of paperwork. It is important to note that blockchain protocols do not allow transaction canceling or compulsory change of ledger entries. This means that all transactions will become safe and anonymous, and anonymity cannot be violated if only by illegal operations. This will suit all law-abiding citizens of the country. The advantages of the national digital currency will ensure its wide circulation in the country and lead to significant shrinking of the “gray” and “dark” cryptocurrency markets and revival of the domestic economy.

scholarly journals Consumers contracting with other consumers in the sharing economy: fill in the gaps in the legal framework or switch to the blockchain model?

2019 ◽  
pp. 44-55
Author(s):  
Hervé Jacquemin
Keyword(s):  
Consumer Protection ◽  
Legal Framework ◽  
Sharing Economy ◽  
Protection Measures ◽  
Blockchain Technology ◽  
Legal Provisions ◽  
Lack Of Information ◽  
Unfair Commercial Practices Directive ◽  
Right Of Withdrawal ◽  
Other Consumers

Numerous legal provisions were enacted at an EU level in order to protect consumers contracting with professionals, especially in a digital environment (see, in particular, the protection measures provided by directive 2011/83/EU on consumer rights; directive 2005/29/EC on unfair commercial practices; directive 2000/31/EC on electronic commerce, etc.). With the development of the web 2.0 and the so-called “sharing economy”, consumers are now entitled to easily conclude agreements with other consumers through intermediation platforms. EU Consumer Acquis shall normally be applicable to the relationship between the platform and each of the peers (the seller or the provider on one hand, and the buyer or the recipient on the other hand), with the exclusion of C2C relationships. The objective of this paper is to highlight the potential issues and gaps in the context of consumer protection (lack of information, warranty issues, no right of withdrawal, etc.), resulting from the fact that C2C agreements are normally out of scope of the EU Consumer Acquis (and only governed by the traditional contract law). Some propositions de lege ferenda will also be made, in order to ensure a higher level of consumer protection (with additional legal duties prescribed for the intermediaries, for instance). Blockchain technology and smart contracts shall also be taken into account, since they should normally give rise to a “disintermediation” process. It should however be assessed whether or not consumer protection will benefit from this disintermediation.

National Digital Currency: a Look into the Future

2020 ◽  
Vol 144 ◽  
pp. 68-73
Author(s):  
Vladimir V. Grigor’ev ◽  
Keyword(s):  
Legal Framework ◽  
Domestic Economy ◽  
Advantages And Disadvantages ◽  
Digital Currency ◽  
Blockchain Technology ◽  
The Future

The author argues on advisability of introducing in our country a new virtual national digital currency that operates on the basis of blockchain technology, which will significantly develop the domestic economy. The article provides a definition and identifies certain types of virtual digital currency, shows its advantages and disadvantages, gives a description of the legal framework for the use of virtual digital currency, briefly highlights the experience of its application in our country and abroad, shows its cost capitalization at present. Particular attention is paid to the mechanism of the national digital currency functioning in our country with participation of government bodies.

Technologically Driven Legal Framework of Blockchain and Cryptocurrencies

2019 ◽  
pp. 111-133
Author(s):  
Ahmed Ashoor ◽  
Kamaljeet Sandhu
Keyword(s):  
Real Time ◽  
Legal Framework ◽  
Peer To Peer ◽  
Third Party ◽  
Party Organization ◽  
Business Innovation ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Processing Data ◽  
Digital Asset

Blockchain technology refers to a digital, immutable, distributed ledger that registers completed transactions in a well-ordered manner and near real time. Blockchain security creates a decentralized environment that bars any third-party organization from controlling the cryptographically validated transactions and data. Blockchain technology fosters business innovation by creating a peer-to-peer networking that prevents one central server from accessing as well as processing data belonging to all companies in the network. Cryptocurrency can be defined as a digital asset built to facilitate completed transactions using cryptography. It helps in providing protection to the completed transactions and controlling the creation of additional units of the currency. In the recent years, the application of blockchain technology has been associated with governance. Blockchain governance has been applied in different fields; for example, it can be used to create permanent laws that cannot be violated by any third party.

TRANSFORMATION OF TRADITIONAL MECHANISMS FOR PROTECTING THE COMPETITIVE ENVIRONMENT UNDER THE INFLUENCE OF NETWORK ECONOMY: THE PLACE OF BLOCKCHAIN IN THE REGULATORY SYSTEM AND NEW COMPETITIVE TOOLS (AGGREGATORS AND PRICE ALGORITHMS)

2020 ◽  
Vol 10 (5) ◽  
pp. 76-88
Author(s):  
KSENIA BELIKOVA ◽  
Keyword(s):  
Regulatory System ◽  
Legal Protection ◽  
Legal Framework ◽  
Legal Regulation ◽  
Practical Significance ◽  
Competitive Environment ◽  
Blockchain Technology ◽  
Foreign Countries ◽  
Starting Point ◽  
Market Factors

This article is aimed at understanding the current state and necessity of transformation of traditional mechanisms for protecting the competitive environment under the influence of networking and the place of blockchain in the regulatory system in the context of applying new competitive tools (aggregators price algorithms) based on the experience of foreign countries, including the perspective and approaches of newest law enforcement (judicial) practice, taking into account the fact that its knowledge allowed and allows to successfully solve current problems of legal regulation in our country. The starting point of the research is network communication as a non-market type of communication. Based on analytical reflections on the information gathered from sources and literature from the list of references the author analyzes legal framework of competition protection developed in the new technological reality, takes into account the approaches of foreign countries and the Russian Federation that determine the acceptability of the application of blockchain in the field of legal protection of competition. The relevance, theoretical and practical significance of this research is due to the emergence of new tools (aggregators and price algorithms) of competitive market struggle in the light of application of a blockchain technology that might influence the competition. The author's results are presented, among others, in the idea of the possibility of “transfer” of anti-competitive actions (price manipulation and collusion, unequal sale / distribution of information / advertising, etc. conditions) to the niche occupied by price algorithms and aggregators of information, and the need to establish a new legal framework of these new market factors.

scholarly journals An Ethereum bill of lading under the UNCITRAL MLETR

2020 ◽  
Vol 27 (2) ◽  
pp. 250-274
Author(s):  
Niels-Philip Abdellatif
Keyword(s):  
Legal Protection ◽  
Legal Framework ◽  
Peer To Peer ◽  
The Internet ◽  
Control Approach ◽  
Bill Of Lading ◽  
Blockchain Technology ◽  
Smart Contract ◽  
Model Law

The paper bill of lading remains pervasive despite numerous problems associated with its form. Blockchain heralds change as it allows unique tokens to be possessed and traded peer-to-peer instantaneously over the internet without the need for a trusted central administrator. Blockchain furthermore promises to ease processes thanks to its applicability in smart contracting procedures. The Model Law on Electronic Transferable Records (MLETR), passed by UNCITRAL in 2017, provides the relevant legal framework for legal protection of the blockchain bill of lading. This paper proposes Ethereum as a viable smart contract-enabled blockchain platform for a bill of lading system and examines said system’s compatibility with the MLETR. The analysis also shows that blockchain technology may have significant consequences for the ‘control’ approach for establishing possession of an electronic transferable record.

Governance and Legal Framework of Blockchain Technology as a Digital Economic Finance

2020 ◽  
Vol 11 (4) ◽  
pp. 52-62
Author(s):  
Yousef Alabbasi
Keyword(s):  
Public Sector ◽  
Literature Review ◽  
Legal Framework ◽  
Public And Private ◽  
The Public ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Current Usage ◽  
Security And Reliability ◽  
Shared Network

Blockchain (BC) provides an encrypted echo system to the users where they can securely mark their transactional entries in a distributed ledger. The ledger comprises of distributed and shared network of nodes that validate the authenticity of each transaction and keeps its authentic record for perusal. Keeping view of the enormous potential of this technology, numerous public and private entities are embarking the bandwagon of blockchain and integrating this technology for ensuring a transitioning in their digital finance operations. Apart from the financial realm, healthcare, agriculture, and education sectors are also benefiting from the security and reliability of BC. Incorporation of BC in the public sector at increased scale requires a review of existing governance and legislative structures and a recalibration of regulatory regimes. This paper presents a literature review on blockchain technology, its current usage trends, and its governance.

scholarly journals Solar Prosumers in the German Energy Transition: A Multi-Level Perspective Analysis of the German ‘Mieterstrom’ Model

Energies ◽  
2021 ◽  
Vol 14 (4) ◽  
pp. 1188
Author(s):  
Raphael Moser ◽  
Chun Xia-Bauer ◽  
Johannes Thema ◽  
Florin Vondung
Keyword(s):  
Urban Areas ◽  
Energy Transition ◽  
Legal Framework ◽  
Smart Meters ◽  
Technical Developments ◽  
Blockchain Technology ◽  
Long Term Trends ◽  
Multi Level ◽  
Main Barrier ◽  
German Cities

The expansion of photovoltaics in German cities has so far fallen short of expectations. The concept of ‘tenant electricity’ (‘Mieterstrom’ in German), in which tenants of a building are supplied with solar power produced on site, offers great potential here. A study on behalf of the German Federal Ministry for Economic Affairs and Energy estimated the number of tenant households with good conditions for solar tenant electricity at 3.8 million. At the same time, the federal tenant electricity promotion scheme has been in place since 2017, but only about 1% of the annual budget has been claimed. The aim of this study is to identify the barriers for and drivers of diffusion of the tenant electricity model. To this end, a qualitative document analysis and a range of semi-structured expert interviews have been conducted. The theoretical framework used to guide the analysis is the multi-level perspective. The main barrier found for tenant electricity diffusion is the legal framework on the regime level, which also leads to high transaction costs of implementing tenant electricity. A social barrier is the inertia of some residents to actively concern themselves with their electricity supply and switch to a tenant electricity contract. Among its drivers are long-term trends such as the increasing electricity demand in urban areas, technical developments like blockchain technology and the increasing deployment of smart meters, and the EU Renewable Energy Directive. As long as the restrictive legal framework prevails, the further diffusion of tenant electricity will remain limited.

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