Creation of a Single National ID: Challenges & Opportunities for India

A National ID for all citizens and residents of India has long being considered a critical necessity, albeit the related projects have been in pilot mode for the past several years and no distinct road ahead seems to be coming out. The government has been focusing on inclusive growth and has launched several schemes at different levels to facilitate the same. However, monitoring the execution of these schemes and understanding clearly if the targeted citizens actually have got benefited, would demand for substantial granularity of information and doing away with information bottlenecks. Interestingly, proper execution of the National ID project by the government can prove to be useful for execution of various schemes and projects as well as in accessing multiple government and private sector services. This paper focuses on the need for a single national identity system in India and its proposed execution which may actually be linked to citizen life cycle. The other aspects covered and analyzed include current Indian scenario, challenges, existing identification systems and loopholes in the existing systems. Major challenges seem to be coming from enrolments, technology platform choice and strategic design, corresponding policy and legal frameworks. The paper also discusses about international scenario of single national id projects undertaken in 27 countries across the globe to understand current status, adoption and usage. To reinforce the need for national ID, the existing IDs were analysed based on a scoring model considering various dimensions. Primary research was conducted, based on which it was found none of the existing IDs was able to satisfy as a National ID based on the scoring model. The proposed road map has been discussed in length i.e technology platform, smart card technology, legal and administrative framework, business model based on Private-Public Partnership (PPP) considering the mammoth and diverse population. A ranking matrix may be created to come up with a composite score for all districts based on various dimensions. The execution may be planned to be executed without asking Indians to stand in queue for one more ID and accelerating towards a more secured society and more importantly ensuring better delivery of Government services to citizens.

A Blockchain-Based Approach Towards Overcoming Financial Fraud in Public Sector Services

In financial markets it is common for companies and individuals to invest into foreign companies. To avoid the double taxation of investors on dividend payment - both in the country where the profit is generated as well as the country of residence - most governments have entered into bilateral double taxation treaties, whereby investors can claim a tax refund in the country where the profit is generated. Due to easily forgeable documents and insufficient international exchange of information between tax authorities, investors illegitimately apply for these tax returns causing an estimated damage of 1.8 billion USD, for example, in Denmark alone. This paper assesses the potential of a blockchain database to provide a feasible solution for overcoming this problem against the backdrop of recent advances in the public sector and the unique set of blockchain capacities. Towards this end, we develop and evaluate a blockchain-based prototype system aimed at eliminating this type of tax fraud and increasing transparency regarding the flow of dividends. While the prototype is based on the specific context of the Danish tax authority, we discuss how it can be generalized for tracking international and interorganizational transactions

Blockchain implications for auditing: a systematic literature review and bibliometric analysis

Blockchain technology, smart contracts, and asset tokenization have relevant implications for the auditing environment. This paper evaluates the current stage of blockchain application in auditing, analyzing scientific publications and identifying the impact of what is already a reality and the potential effects of its improvements in audit professionals’ activities performance. The article considers the proposals and suggestions on the leading research indexed by the Scopus and Web of Science databases. We analyzed 374 papers on the topic of blockchain and provide a summary and analysis of the current state of auditing research. The bibliometric analysis was performed using the Bibliometrix R Package and the VOSviewer software. After a systematic study of abstracts and a general review of the papers to only include those directly related to our work’s objectives, we found 78 papers. The work results in a framework of potential and effective implications of blockchain technology for auditing, pointing out several new challenges in terms of skills and knowledge needed in this new reality of audit professionals

The current limitations of blockchain traceability: challenges from industry

Blockchain technology is a chain of cryptographically linked blocks. It was designed to be immutable, so that the identity and traceability of the information entered would be guaranteed. After analyzing several traceability solutions, in the context of a Spanish company project, it was found that in order for a traceability solution to be efficient and agile, an additional layer is necessary in the blockchain. Since this need originated in the industrial sector, the subject has awakened considerable interest in the research community. This paper explains why the extra layer is essential and why it should ideally be totally independent of the information that is recorded on the blockchain network. Although data in a blockchain network is immutable, the paper also outlines the need for additional verification mechanisms capable of determining whether the raw data was correct. Finally, it includes planned future work.Ministerio de Ciencia, Innovación y Universidades PID2019-105455GB-C31Junta de Andalucía CEI-12-TIC02

The New International Architecture

In 1998 Rüdiger Dornbusch gave the Munich Lectures in Economics entitled “International Financial Crises”. The CES Academic Council awarded him the prize and title “Distinguished CES Fellow” for his outstanding work on the monetary theory of foreign trade.Rüdiger Dornbusch passed away on July 25, 2002, before he was able to finalize the manuscript of his most stimulating and thought-provoking lectures. The manuscript was scheduled to appear in the CESifo book series with MIT Press. This working paper contains the introduction which was distributed at the lectures. CES would like to make this document available to the scientific community. There is a video presentation of the lectures on the CES website (www.CESifo.de), and a leaflet is also available with the introductory speech by Stanley Fisher.International Finance, Financial Crises, IMF

디지털 무역 거래에서의 전자계약서에 관한 법적 고찰

학위논문(석사) -- 서울대학교대학원 : 국제대학원 국제학과(국제지역학전공), 2023. 2. 안덕근.The fourth industrial revolution and technological development have accelerated the digital transformation. With this advancement, cross-border trade is becoming simpler and faster. Electronic purchase, documentation, data storage, exchanges of data from customers to traders push forward the implementation of e-contracts. Especially since 2010, the digitalized trade ecosystem is being processed more widely. Perhaps, the unprecedented global pandemic and the environmental-friendly movement have brought the digital transformation faster in diverse fields including trade. Countries are concluding bilateral and multilateral digital partnership agreements to promote economic activities while ensuring the national economic security. Unfortunately, the regulatory gaps exist because legislation procedure has not kept up with the speed of the progress in technology. The adaptation of digitalization seems systematical and prompt as people and industries follow the trend. However, it has certainly brought vagueness and asked for a pioneering leader to set standards to the modification in industrial movement be legally valid to execute. The world is closer to one another more than ever. The global trade scale has increased drastically. According to the WTO survey, 4300% growth has been reached in international trade from 1950 to 2021. In order to facilitate the trade ecosystem, digital transformation is unavoidable. One of the changes would be implementing e-contracts that is better known as smart contracts. Considering beneficiaries that e-contracts have: cost and time reduction, simple documentation and customs clearance, and guaranteeing privity and security, it is more favourable to utilize them. With their advantageous features notwithstanding, the absence of typical protocol disturbs more widespread usage of e-contracts. In fact, there is no concrete norm to define e-contract worldwide. Perhaps it is because e-contracts contain not only technical concepts but various related legal issues such as contractual relationship practice and e-identity. As a result, e-contracts lift many concerns not only in contract law but also in multiple legal fields like financial law, electronic transaction law and data protection law. This is why it is worth reviewing legal concerns of e-contracts and profits from using them on behalf of existing contracts. This research will provide a general preview of the concept, legal conditions and effects of e-contracts. How e-contracts are used in a real trade ecosystem will also be introduced to show the validity of the study goal. Then, the review of blockchain technology on e-contracts will follow to explain the technical conditions and the structure of e-contracts. Finally, already existing domestic laws and partnership agreements will be reviewed to be able to make suggestions for policymakers and trade negotiators to update the current legal framework for e-contracts. Therefore, it is important to review from the current status of e-contracts from the definition and the cornerstone technology to the legal framework to suggest comprehensive digital partnership agreements in the digital trade era.4차 산업혁명의 발생으로 인한 디지털기술발전은 사회의 많은 영역에의 디지털 전환을 가속화하고 있다. 기술 발전으로 세상은 그 어느때보다 긴밀히 연결되어 있으며, 글로벌 가치 사슬을 통해 세계 무역 규모 역시 급격히 증가했다. WTO 조사에 따르면, 1950년부터 2021년까지 국제 무역은 4300%의 성장을 이루었다. 특히 전례 없는 코로나19를 겪으며 전자상거래를 비롯한 국경을 넘나드는 무역(Cross-border trade)의 디지털 전환을 더욱 앞당겼다. 무역업무과정에 발생하는 모든 단계들(구매, 서류의 문서화, 데이터 저장, 데이터 교환 등)은 '전자 계약(e-contract)'을 통해 더욱 용이하게 이행될 수 있다. 즉, 무역 생태계를 원활하게 하기 위해서는 디지털 전환이 불가피하다. 실제로 많은 국가들은 각국의 경제 활동을 촉진하고 국가 경제 안보를 보장하기 위해 양자 및 다자간 디지털 파트너십 협정을 체결하고 있는 실정이다. 하지만 기술 발전의 속도가 너무 빠르면 법 제정 절차가 이를 따라가지 못해, 기술 발전과 규제 사이에 격차가 발생한다. 산업이나 일상을 생각해보면 디지털전환이 꽤나 자연스레 이루어지는 것 같지만, 아직 진행 중인 과정에서의 법적 구속력을 결정짓기엔 고려해야할 어려움이 뒤따르고 있다. 비용과 시간의 절감, 통관절차 간소화, 프라이버시와 보안 보장 등 전자계약이 가진 이점들은 결코 무시할 수 없다. 이러한 장점에도 불구하고, 정형화된 기준 및 규제의 부재는 더 광범위한 전자 계약의 사용을 방해한다. 사실 전 세계적으로 정해진 전자 계약'의 정의는 없다. 아마도 전자계약에는 기술적 개념 뿐만 아니라 계약관계 관행, 전자정체성 등 다양한 관련 법적 문제가 포함되어 있기 때문일 것이다. 이에 따라 전자계약은 계약법은 물론, 금융법, 전자거래법, 데이터보호법 등 여러 법률 분야에서 검토되어야 한다. 본 연구는 전자계약의 개념, 법적 조건 및 효과에 대한 일반적인 시사점을 소개하면서 전자계약이 실제 무역 생태계에서 어떻게 활용되는지를 검토한다. 이어 블록체인 기술과 이를 기반으로 한 전자계약에 대한 검토를 통해 전자계약의 기술적 조건과 구조를 설명한다. 마지막으로 관련 항목을 가진 한국, 미국, 유럽 연합의 국내법과 파트너십 협정의 검토를 필요로 한다. 이를 통해 정책 입안자나 무역 전문가들이 전자계약에 대한 현행법 개정 또는 새로운 디지털 파트너십 계약을 체결할 때 고려해보 수 있을 것이라 판단된다.Chapter I. Introduction 1 1. Study Background 1 2. Purpose of Research 3 Chapter II. What is an E-contract 6 1. Definition of E-Contracts 6 2. Legal Characteristics of E-Contracts 8 3. Effects of Using E-Contracts 11 Chapter III. E-Contract issues and trends in trade 14 1. Current Status of E-Contracts in South Korea 14 2. E-Contract Usage in International Trade 19 Chapter IV. Blockchain and E-contracts 22 1. What is Blockchain Technology 22 2. Blockchain Application in Digital Trade 23 3. E-Contracts in Digital Trade 26 Chapter V. Legal Agreement Analysis 32 1. Comparisons of Bilateral Agreements 32 2. United States Legislation Status and Prospect 36 3. Europes Legislation Status and Prospect 38 4. South Koreas Legislation Status and Prospect 41 Chapter VI. Conclusion 43 Bibliography 47 Abstract in Korean (국문 초록) 51석

REGULATORY SANDBOXES ENABLE PRAGMATIC BLOCKCHAIN REGULATION

Since blockchain technology supports digitally-native money, the centralized chokepoints that governments have traditionally targeted to regulate commerce no longer apply to our (digital) property. However, competent regulation furthers basic public policy goals and should enable responsible innovation of this promising technology. This Article discusses pragmatic policies that enable responsible innovation by cultivating regulatory expertise required to write enforceable rules. Responsible innovation is necessary because unlike the early internet, where programmers could manipulate simple colors and text on webpages, these same individuals can now create financial services applications that manipulate actual money—we are faced with an inescapable reality that more is at stake