ABUSES OF BLOCKCHAIN TEHNOLOGY AND IMPACT ON COMPANIES
DOI:
https://doi.org/10.30925/zpfsr.43.3.9Keywords:
blockchain technology; misuse of BC technology; companies; responsibility of key developers.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 extra-institutionally 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.
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Copyright (c) 2022 Edita Čulinović Herc
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