Posted on Categories other

The tech revolution: A threat to the core values of civil society and the legal profession?

Over the past 20 years we have experienced technological developments dramatically changing our way of life. These developments, like all technological developments in general, help us perform various tasks more precisely, more efficiently, and faster. In general, they enable us to gain time.

However, when an invention solves one problem, it is quickly used for other purposes. It becomes applicable in completely different areas and leads to results not predicted and often not at all favoured by the inventor.

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Posted on Categories anti-money laundering, fintech

Terminating bank accounts of cryptocurrency exchanges: Why we should all be concerned

This will not be another article about cryptocurrencies. Instead, I want to focus on a dangerous precedent we may have overlooked in the broader debate over cryptocurrencies. Cryptocurrency exchanges and other enterprises operating on the cryptocurrency market have been targeted by the highly controversial practice of banks shutting down their accounts. This practice displays the universal threats arising along with the increasing digitalisation of commerce.

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Posted on Categories changes in law, crowdfunding

Amendment to the Public Offering Act: Removal of prospectus requirement an opportunity for crowdfunding

The high costs of preparing a prospectus and the required intermediation of an investment firm have discouraged many companies from raising financing through a public offering. Given the low threshold (EUR 100,000) for the value of a public offering requiring publication of a prospectus, the obligations connected with public offerings have also had a negative impact on other methods of financing such as crowdfunding. The new regulations are aimed at relaxing the national requirements by raising the threshold to EUR 1 million and adjusting other regulations to this change.

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Posted on Categories privacy/personal data protection, research

DSRC – vehicle-to-vehicle communication and data protection

Dedicated Short Range Communication (DSRC) is a system in which information is shared between vehicles (V2V) and between vehicles and infrastructure (V2I). In general, this technology is intended to aid the flow of anonymised information on driving conditions. It seems however that DSRC might also entail collection and processing of personal data.

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Posted on Categories blockchain

Is blockchain to be regulated at international level?

As mentioned in the article on trends in blockchain regulation in 2018, 2018 will probably be remembered as the year in which blockchain began to be regulated in various areas. Public institutions are constantly floating new ideas in a number of different countries.

The measures taken by lawmakers and regulators do not solely reflect a wish to perform tasks such as ensuring financial stability, consumer and investor protection, and crime prevention. Legislators have evidently noticed that there may be true benefits to development of blockchain in their jurisdictions, such as assistance for the local innovation ecosystem, capital inflow, or the attracting of businesses and technological projects.

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Posted on Categories artificial intelligence

A limited liability company as a means of attributing legal personality to algorithms?

In a recent article I discussed possible solutions to the question of liability of algorithms for copyright infringement. The solution put forward some time ago by the European Parliament Committee on Legal Affairs is creating the status of electronic persons. This would mean that an algorithm, and not people responsible for the algorithm, would be directly liable for breaking the law.

An alternative, originally proposed in the US and subsequently analysed under Swiss, English, and German law, is use of equivalents of a Polish spółka z ograniczoną odpowiedzialnością (in the US a limited liability company and GmbH in Germany) as a legal vehicle for attributing legal personality to an algorithm. This would be a ‘memberless entity’.

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