Original scientific paper
https://doi.org/10.30925/zpfsr.43.3.9
ABUSES OF BLOCKCHAIN TEHNOLOGY AND IMPACT ON COMPANIES
Edita Čulinović-Herc
orcid.org/0000-0002-6177-8057
; University of Rijeka, Faculty of Law, Rijeka, Croatia
Abstract
Blockchain technology (hereinafter: BC), which is classified as distributed
ledger technology (hereinafter: DLT), has a wide application in operation of business
as well as in corporate governance. It is under-regulated, tends to function extrainstitutionally
and it could be source of abuse/misuse. The paper analyzes two cases of
the abuse of BC technology, the risks that have arisen, as well as recovery methods that
were applied. While it is widely discussed to whom those risks should be attributed,
a concept of proclaiming core developers of the BC as fiduciaries was investigated
thereby holding them liable for proper functioning of BC solution. Assesment of the
same risks DLT / BC technologies were then viewed from the angle of the company,
as potential purchaser of BC technological solutions from third party provider. A
paper finally proposes who should in the company take care of the application of new
BC technological solutions and ensure that those risks are prevented and/or efficiently
managed in the company.
Keywords
blockchain technology; misuse of BC technology; companies; responsibility of key developers
Hrčak ID:
287850
URI
Publication date:
20.12.2022.
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