Understanding smart contracts as a new option in transaction cost economics

Among different concepts associated with the term blockchain, smart contracts have been a prominent one, especially popularized by the Ethereum platform. In this study, we unpack this concept within the framework of Transaction Cost Economics (TCE). This institutional economics theory emphasizes the role of distinctive (private and public) contract law regimes in shaping firm boundaries. We propose that widespread adoption of the smart contract concept creates a new option in public contracting, which may give rise to a smart-contract-augmented contract law regime. We discuss tradeoffs involved in the attractiveness of the smart contract concept for firms and the resulting potential for change in firm boundaries. Based on our new conceptualization, we discuss potential roles the three branches of government – judicial, executive, and legislative – in enabling and using this new contract law regime. We conclude the paper by pointing out limitations of the TCE perspective and suggesting future research directions

A Survey on Wireless Sensor Network Security

Wireless sensor networks (WSNs) have recently attracted a lot of interest in the research community due their wide range of applications. Due to distributed nature of these networks and their deployment in remote areas, these networks are vulnerable to numerous security threats that can adversely affect their proper functioning. This problem is more critical if the network is deployed for some mission-critical applications such as in a tactical battlefield. Random failure of nodes is also very likely in real-life deployment scenarios. Due to resource constraints in the sensor nodes, traditional security mechanisms with large overhead of computation and communication are infeasible in WSNs. Security in sensor networks is, therefore, a particularly challenging task. This paper discusses the current state of the art in security mechanisms for WSNs. Various types of attacks are discussed and their countermeasures presented. A brief discussion on the future direction of research in WSN security is also included.Comment: 24 pages, 4 figures, 2 table

Access to Electronic Data for Criminal Investigations Purposes in the EU. CEPS Paper in liberty and security in Europe No. 2020-01, February 2020

Within the EU and across the Atlantic, investigation and prosecution of crime increasingly relies on the possibility to access, collect and transfer electronic information and personal data held by private companies across borders. Cross-border access to and collection of data for the purpose of fighting crime raise several legal and jurisdictional issues. This paper comparatively examines the constitutional, legal and administrative frameworks on access to and use of digital information in cross-border criminal justice cooperation in a selection of EU member states. It presents key challenges in the application of the EU mutual recognition and mutual legal assistance instruments, as well as the existence of 'promising practices' across the EU and in transatlantic relations. The paper also assesses a set of legal and practical questions raised by the ongoing policy and normative debate on the so-called “E-Evidence” Package. Finally, it sets out a number of policy options and practical ways forward for EU and national policy makers to promote judicial cooperation for cross-border access to and collection of electronic data in line with EU and international rule law and fundamental rights standards