Presentation, Javier Ibáñez Jiménez
Banks and crypto-asset service providers between financial and data protection regulations, Jörn Erbguth
I. Introduction
II. On-chain transaction data
III. Controller of the on-chain data
IV. Possible Justifications
V. Unwanted token transfers
VI. Conclusion
The (not only) social impact of the eIDAS 2.0 digital identity approach in Germany and Europe, Steffen Schwalm
I. Introduction and current status of digital identities in Germany and Europe
II. Core changes in proposal of eIDAS 2.0
II.1. Overview
II.2. Main changes on electronic identification and European Digital Identity Wallet
II.3. Main changes regarding (qualified) trust services and trust service providers
III. Possible impacts of eIDAS 2.0
III.1. Chances and risks of eIDAS 2.0
III.2. Trustworthy decentralization with eIDAS 2
IV. Outlook
V. Bibliography
Metaverse Tokenized Economy: Key Reflections, Ricardo Palomo
I. Introduction
II. Metaverse: A new world for the new metaeconomy
III. Tokenization in a dual economic system?
IV. Conclusions
V. References
Entrepreneurs and enterprise in the metaverse: Legal challenges of the metaverse economy, Antonio Serrano Acitores
I. Introduction
II. The metaverse economy
II.1. Historical background
II.2. The new digital economy: from the data economy to the metaverse economy
III. Conceptualising the metaverse
IV. Characteristics of the metaverse
V. Activities to be developed in the metaverse
VI. Legal challenges of the metaverse economy
VI.1. The big questions
VI.2. Main legal risks of the metaverse
VII. Conclusions
VIII. Bibliography
DLT governance and accountability in the value chain: The issuance of governance tokens, María del Sagrario Navarro Lérida
I. Foreword
II. How does the blockchain understand the firm as a network?
III. Value chain in a decentralized reality: DAOS and tokenization
IV. References
'Token governance in DAOs', Ana Felícitas Muñoz Pérez
I. General overview
I.1. General definition of DAO
I.2. A general approach of certain features and legal issues of DAOs
I.3. Legal wrapper as a tool of personification and risk of token recharacterization
I.4. DAOS: movement towards greater private ordering or towards the 'Commons'?
II. Participation in DAOs
II.1. Tokens as means and 'title' of participation
II.2. Content of governance tokens
III. The process of foundation and Governance tokens distribution
IV. Government
IV.1. Government on the chain and off the chain
IV.2. Issues of governance
IV.3. Issues to the nature of the means of participation
V. Conclusion
DLT governance and EU investment token supervision policy issues, Javier Ibáñez Jiménez
I. Introduction to DLT network governance
I.1. Definition of DLT network governance according to international standards
I.2. Inner and outer blockchain network governance matters
I.3. Latest developments: inner/outer linkage enhancement and diversification
II. The position of internal and external governance in the architecture of DLT blockchain networks and its relevance for the blockchain ecosystem
II.1. Theoretical location of governance in the layers of the blockchain architecture: a synthetical approach according to telecommunication global standards
II.2. Relevance of the explained position for the structure of a blockchain ecosystem
III. Investment tokens in a blockchain ecosystem
III.1. Tokens and investment tokens: notion and boundaries
III.2. Significance of token trading for a blockchain permissioned ecosystem
III.3. The need of investment token supervision for a proper trusted blockchain network development: trusted trading applications
IV. A simplified introductory approach to key MiCA Supervision issues
IV.1. Supervision principles
IV.2. Some token-supervision rules: ART / EMT asset reserve control; market abuse
V. Specific questions posed by NFT supervision
V.1. The 2021 amendments and the MiCA coverage of the bulk of the NFTs
V.2. The key features of a traded token: number and market (ESMA objective approach) vs issuer and investor purpose (SEC subjective approach)
VI. MiCA regulatory policy assessment: the monetary policy and market stability EU regulatory design bias
VII. The IOSCO balanced global perspective for investment and market protection
VIII. Conclusion
The blockchain and token startup capital financing landscape, Matthias Fischer
From wallets to universal access device?, Rosa Giovanna Barresi & Filippo Zatti
I. Introduction
II. 'Transactions in the digital space
III. Offline transaction execution: searching for a device with the required features
IV. UAD: Risk or opportunity?
IV.1. A different model for innovation
IV.2. The RasPi and the 'DEVELOPER toolchain
IV.3. Improving by experiment
V. Criteria governing an offline transaction
V.1. Definitions
V.2. Rules
VI. Possible attacks against an offline transaction protocol: Bellum omnium contra omnes
VII. Our approach
VII.1. Offline transaction as a fair Two-Party Computation
VII.2. Secure processors
VII.3. Transactions privacy in an international dimension
VIII. Conclusions
Civil liability of token issuers, Carlos de Cores Helguera
I. Introduction
II. European regulation on virtual assets
III. Civil liability of the issuers of virtual assets. Introduction
III.1 Liability arising from noncompliance of information duties
III.1.1. Regulation insights
III.1.2. The nature of issuers civil liability deriving from noncompliance of information duties
III.2 Liability arising from other sources
Towards the New EU Token Economy, Joachim Schwerin
I. Flashback to Autumn 2008: Sunset of an Old Era, Sunrise of a New One
II. Tokenisation opportunities in finance
III. Industry processes and value chains
IV. A new approach for Digital Self-Governance: the token economy
V. Where are we? Decentralisation continues
VI. We are in a critical juncture
Annex