Blockchain, Digital Transformation and the Law

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Blockchain, Digital Transformation and the Law

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Titel: Blockchain, Digital Transformation and the Law
What Can We Learn from the Recent Deals?
Forfatter: Savin, Andrej
Resume: Recent years have seen a surge in the use of blockchain technologies, not least because of the increased use of cryptocurrencies such as Bitcoin which rely on it. While some of the generated interest can be dismissed as hype, there is little doubt that blockchain is a technology with the potential to revolutionise certain areas of law. A careful reader following the trends would have noticed that Maersk, the Danish business conglomerate, was involved with no less than three deals revolving, in one way or another, around blockchain technology Such news should intrigue the reader since adoption of experimental methods or newest IT technologies does not normally characterise the inert maritime and transport industries. We will in this short piece give an overview of the relevance of blockchain and briefly look at three different deals which Maersk concluded around the technology. We will then give an outline of potential legal problems which these and similar deals might bring. Our preliminary conclusion is that blockchain technology - in some instances at least - has the potential to disrupt the role law traditionally plays in negotiating and executing international contracts.
URI: http://hdl.handle.net/10398/9648
Dato: 2018-07-12
Note: Paper presented at the Maritime Contracts Seminar: Negotiation and Collaboration Through International Contracts. March 22 2018, Frederiksberg, Denmark

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