Authors: Markus Kaulartz, Jonas Gross, Constantin Lichti, Philipp Sandner, Stephan Raubach

In this article, we analyze from a legal perspective whether information systems such as computers or IT infrastructure technologies such as blockchain technology are subject to a legal obligation for audits or some other form of functional verification prior to their use. In addition to general audit requirements, we examine in particular the direct obligation and the indirect obligation for the execution of audits. Also, we address further aspects such as privacy and data protection consequences, the role of certificates, warranty rights, and claims based on tort. …


Authors: Markus Kaulartz, Jonas Gross, Constantin Lichti, Philipp Sandner, Stephan Raubach

In this article, we analyze from a legal perspective how the topic of data protection, in particular the General Data Protection Regulation (GDPR), plays out specifically in the context of blockchain-based databases. In our legal assessment, we distinguish between 1) personal data and 2) machine data. In addition, aspects such as the different legal frameworks and levels of data protection in different countries are addressed. Also, the question of handling company and trade secrets will be discussed. In each scenario, special attention is drawn to the issue of liability…


With this article, we provide a toolkit on how to use Hyperledger in industrial DLT projects. This toolkit has been developed with other IT companies and also together with machinery manufacturers. It also includes code snippets to showcase how machines can be connected to to DLT networks with Hyperledger such that new business models can be explored. See the PDF link to the document (60 pages) below. Authors: Martin Schäffner, Constantin Lichti, Jonas Gross, Philipp Sandner

Distributed ledger technology (DLT) has the potential to address industrial challenges, build trust, and unlock new value across businesses and industries via the use…


Authors: Philipp Sandner, Constantin Lichti

Bitcoin is much more than interconnected processors. Far too often, Bitcoin is explained from a technical point of view. Attempts are made to make a significant invention understandable solely through technical terms such as nodes, hash functions, or nonces. Of course, technology is the foundation. Bitcoin is not an app on a smartphone that you can install, use and delete again. Bitcoin consists of nearly 10,000 global nodes that are interconnected and mutually synchronize with each other. This makes Bitcoin the global network that issues a new block every ten to twelve minutes and attaches…


Authors: Markus Kaulartz, Jonas Gross, Constantin Lichti, Philipp Sandner, Daniel Holk

In this article, we analyze from a legal perspective under which circumstances companies providing specific financial services require regulatory approval. We differentiate in our legal assessment between (i) finance leasing, (ii) factoring services, and (iii) sales financing. Furthermore, we offer suggestions for the practical implementation. The article assumes the application of German laws.

Preamble

This article is the third publication of the series “legal aspects of blockchain technology” by the Frankfurt School Blockchain Center (FSBC), Datarella, and CMS Hasche Sigle. This research is part of the KOSMoS project, a research…


Authors: Markus Kaulartz, Jonas Gross, Constantin Lichti, Philipp Sandner, Daniel Holk

In this article, we analyze from a legal perspective whether a smart contract can replace a physical contract set up between various business parties. We differentiate in our legal assessment between 1) the smart contract itself being the text of the contract, and 2) the smart contract only being used to execute a contract concluded elsewhere. Furthermore, we offer suggestions for the practical implementation. The article analyzes German laws.

Preamble

This article is the second publication of the series “legal aspects of blockchain technology” by the Frankfurt School Blockchain Center…


Authors: Markus Kaulartz, Jonas Gross, Constantin Lichti, Philipp Sandner

This article addresses the question how a blockchain transaction must be structured so that it can be used as evidence in court. Based on the following different types of formal evidence — namely (1) expert opinion, (2) documents/deeds, (3) inspection or visual evidence, and (4) witnesses and party hearings — we analyze the evidence assessment of a blockchain transaction in detail. The article analyzed the laws and rules of the jurisdiction of Germany.

Preamble

This article is the first publication of the series “legal aspects of blockchain technology” by the Frankfurt School…


Authors: Jonas Gross, Constantin Lichti, Martin Schäffner, Philipp Sandner

In our recent publication, we provided insights into the process of selecting the most suitable blockchain platform for a collaboration project in the manufacturing industry. After a blockchain framework has been selected, a proper consensus mechanism must be chosen and specified. The consensus mechanism defines how the agreement to a state of the data is achieved and under which conditions a transaction is considered valid. …


Authors: Jonas Gross, Constantin Lichti, Martin Schäffner, Philipp Sandner

More and more companies consider distributed ledger technology (DLT) and start building blockchain-based applications and products. It is a common approach for industrial companies to form consortia with innovative blockchain developing experts in order to increase knowledge about DLT. A crucial question arises as soon as a consortium has been formed: Which blockchain platform should be used? Ethereum, Hyperledger Fabric, R3 Corda or maybe another blockchain platform? What are the advantages and disadvantages of each blockchain platform in the context of industrial use cases?

Background

The Frankfurt School Blockchain Center and the…

Constantin Lichti

Doctoral Candidate | Research Associate | Public Blockchains | DLT | Digital Transformation

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