Breaking the Transatlantic Data Trilemma: the EU Must Step Up Its Approach to EU-US Data Flows

The Euro-American data relationship is deeply troubled. In fact, it now faces an impossible "trilema" among three core policy objectives: bulk intelligence collection, open transatlantic digital commerce, and the EU’s fundamental rights. The EU needs to take action if it is to protect the economically critical transatlantic data corridor and maintain the tech leadership role Europe wants

Dilemmas in Legal Governance

This article develops the issue of power and language in Artificial Intelligence governance through three dilemmas that should be considered in the design of regulatory systems. Some previous uses of this figure in the literature are described. The article inspects some design choices that determine how legal governance in AI can be engineered. Stemming from the conundrum that enactment of rights and the implementation of good or better government can be facilitated at the cost of increasing control over citizens through AI-based systems, the article formulates three dilemmas—normative autonomy, legal isomorphism, and modes of regulation. Beyond deliberative and epistemic democracy, it expands then the notion of legal governance, connecting the three dilemmas with the ethical and political stances of the concept of linked democracy

Financial Regulation in the Bitcoin Era

The recent decade has witnessed an extraordinary degree of innovation in the financial sector. Developments in financial technology, computing power, and networking theory have allowed decentralized online platforms such as Bitcoin to fundamentally change the way that financial services are provided. While these innovations have been applauded by many as bringing a welcome degree of competition to a sector long dominated by powerful incumbents, they also create a set of challenges for current financial regulation. How do fiduciary standards apply to algorithms? How does online finance affect the behavior of investors? And more generally, how can regulators monitor and constrain the financial industry when it is increasingly run by autonomous, dispersed computer networks? This Article argues that current financial regulation is inadequate to address the unique problems presented by the rise of Bitcoin and other fintech industries. In particular, these innovations raise concerns about the ability of financial regulation to promote three inter-related financial goals: the efficient allocation of capital, the protection of consumers, and the prevention of systemic risk. These goals, at the core of current approaches to financial regulation, are all challenged by fintech’s defining feature: its reliance on disembodied institutions and complex algorithms for its functioning. These traits render the traditional tools used by regulators to discipline markets—substantive behavioral obligations, the threat of sanctions, and the constraining effect of reputation—largely ineffective. The Article concludes by proposing a set of principles to guide lawmakers in designing a more effective financial regulatory structure for the Bitcoin era

Blockchain in Enterprise Solutions: Assessing the Suitability of Blockchain for Corporate Sustainability Reporting

The aim of this master’s thesis was to assess the suitability of blockchain technology as enterprise solution for corporate sustainability reporting through evaluating the technological properties and enterprise use-cases of blockchain technology and challenges in corporate sustainability reporting. Furthermore, a special focus on literature review was to demystify the properties of blockchain technology that provide its most well-known qualities. In this thesis, blockchain technology was assessed through a review of prior literature, and the current state of corporate sustainability reporting was mainly evaluated through data collected in expert interviews. Blockchain technology has been found to have potential as an enterprise solution for a large number of corporate functions, such as supply chain management and accounting. Global corporations have publicly announced to be piloting with the technology in recent years. However, a level of technological abstraction prohibits the visibility of how the technology is concretely improving existing processes. Prior research exists on both levels, on high-level enterprise use-cases and technological deep dives, but rarely together. Corporate sustainability reporting is becoming more harmonised and standardized due to EU regulations such as the corporate sustainability reporting directive (CSRD) and EU Taxonomy. Corporations subject to the regulations are facing challenges in sourcing and managing the data required for compliant reporting. For blockchain implementations in corporate sustainability reporting, prior research is very limited and research including a more detailed technological evaluation of blockchain does not seem to exist to the knowledge of this thesis. This thesis fills a gap in the literature by providing in-depth insights into the suitability of blockchain technology for enterprise solutions, with a specific focus on sustainability reporting. Unlike previous studies that primarily address high-level concepts, this research offers a comprehensive explanation of blockchain basics, catering to readers who may not be familiar with the technology. Furthermore, given the novelty of sustainability reporting solutions, it is crucial to explore alternative options beyond traditional systems. The main findings of this thesis validated the presumed challenges corporations face in accustoming to the new sustainability regulation and highlighted the need for efficient IT solutions to manage the vast amounts of data points and insights required for compliant reporting. While blockchain-based solutions certainly have the potential to streamline and manage the reporting process, no indications of advantages over more traditional systems built on shared databases were found. Rather, this thesis highlighted the very specific advantages and use-cases blockchain technology currently has over traditional data management solutions, which are not currently relevant in the case of corporate sustainability reporting. As both enterprise blockchains and corporate sustainability reporting systems continue to evolve and mature, this research emphasizes the need for a fresh perspective and deeper examination of the topic. By shedding light on the challenges faced by corporations in adapting to new sustainability regulations and evaluating the potential of blockchain technology as an enterprise solution for sustainability reporting, this thesis offers valuable insights and calls for further exploration in this rapidly evolving field.Tämän pro gradu -tutkielma tavoitteena oli arvioida lohkoketjuteknologian soveltuvuutta teknologiaratkaisuksi yritysten kestävyysraportointiin arvioimalla lohkoketjuteknologian teknologisia ominaisuuksia sekä yrityskäyttötapauksia, että yritysten kestävyysraportoinnin haasteita. Lisäksi kirjallisuuskatsaukseen keskityttiin erityisesti lohkoketjuteknologian ominaisuuksien esittelemiseen, jotka ovat sen tunnetuimpien ominaisuuksien takana. Tässä tutkielmassa lohkoketjuteknologiaa arvioitiin kirjallisuuskatsauksen avulla, ja yritysten kestävän kehityksen raportoinnin nykytilaa arvioitiin pääasiassa asiantuntijahaastatteluissa kerätyn tiedon avulla. Lohkoketjuteknologialla on todettu olevan potentiaalia yritysratkaisuna monissa yritystoiminnoissa, kuten toimitusketjujen hallinnassa ja kirjanpidossa. Suuret globaalit yritykset ovat viime vuosina julkisesti ilmoittaneet pilotoivansa teknologiaa. Teknologinen abstraktiotaso estää kuitenkin usein suoraan näkemästä, miten lohkoketjuteknologia todellisuudessa parantaa nykyisiä prosesseja. Aiempaa tutkimusta on tehty molemmilla tasoilla, sekä korkean tason yrityskäyttötapauksista, että teknologian syvemmistä tasoista, mutta harvoin yhdessä. Yritysten kestävän kehityksen raportointi on yhdenmukaistumassa ja standardisoitumassa EU:n säädösten, kuten yritysten kestävän kehityksen raportointia koskevan direktiivin (CSRD) ja EU taksonomian ansiosta. Säädösten piiriin kuuluvilla yrityksillä on haasteita vaatimustenmukaiseen raportointiin tarvittavien tietojen hankinnassa ja hallinnassa. Lohkoketjutoteutuksia yritysten kestävän kehityksen raportointia varten on tutkittu hyvin vähän, eikä tämän tutkielman tietämyksen mukaan näytä olevan olemassa tutkimusta, joka myös sisältäisi lohkoketjujen yksityiskohtaisemman teknologisen arvioinnin. Tämä tutkielma täyttää kirjallisuudessa olevan aukon tarjoamalla syvällistä tietoa lohkoketjuteknologian soveltuvuudesta yritysratkaisuihin keskittyen erityisesti kestävän kehityksen raportointiin. Toisin kuin aiemmissa tutkimuksissa, joissa käsitellään pääasiassa korkean tason käsitteitä, tämä tutkimus tarjoaa kattavan selityksen lohkoketjun perusteista, mikä palvelee lukijoita, jotka eivät ehkä tunne teknologiaa. Lisäksi kestävyysraportointiratkaisujen uutuuden vuoksi on tärkeää tutkia vaihtoehtoja perinteisten järjestelmien lisäksi. Tämän tutkielman tärkeimmät tulokset vahvistivat haasteet, joita yritykset kohtaavat kestävyysraportointiprosesseissaan, ja korostivat tehokkaiden tietoteknisten ratkaisujen tarvetta, jotta voidaan tehokkaammin hallita raportointiin vaadittua määrää informaatiota. Vaikka lohkoketjupohjaisilla ratkaisuilla on varmasti potentiaalia virtaviivaistaa raportointiprosessia, ei havaittu mitään viitteitä siitä, että niillä olisi etuja verrattuna perinteisempiin jaettuihin tietokantoihin perustuviin järjestelmiin. Pikemminkin tässä tutkimuksessa nousi esiin viitteitä siitä, että lohkoketjuteknologialla ei ole tällä hetkellä perinteisiin tiedonhallintaratkaisuihin verrattuna merkittäviä etuja yritysjärjestelminä, etenkään kestävyysraportoinnin piirissä

Decentralization in messaging applications with support for contactless interaction

Peer-to-peer communication has increasingly been gaining prevalence in people’s daily lives, with its widespread adoption being catalysed by technological advances. Although there have been strides for the inclusion of disabled individuals to ease communication between peers, people who suffer arm/hand impairments have little to no support in regular mainstream applications to efficiently communicate with other individuals. Additionally, as centralized systems have come into scrutiny regarding privacy and security, the development of alternative, decentralized solutions have increased, a movement pioneered by Bitcoin that culminated in the blockchain technology and its variants. Aiming towards expanding inclusivity in the messaging applications panorama, this project showcases an alternative on contactless human-computer interaction with support for disabled individuals with focus on the decentralized backend counterpart. Users of the application partake in a decentralized network based on a distributed hash table that is designed for secure communication (granted by a custom cryptographic messaging protocol) and exchange of data between peers. Such system is both resilient to tampering attacks and central points of failure (akin to blockchains), as well as having no long-term restrictions regarding scalability prospects, something that is a recurring issue in blockchain-based platforms. The conducted experiments showcase a level of performance similar to mainstream centralized approaches, outperforming blockchain-based decentralized applications on the delay between sending and receiving messages.A comunicação ponto-a-ponto tem cada vez mais ganhado prevalência na vida contemporânea de pessoas, tendo a sua adoção sido catalisada pelos avanços tecnológicos. Embora tenham havido desenvolvimentos relativamente à inclusão de indivíduos com deficiência para facilitar a comunicação entre pessoas, as que sofrem imparidades no braço/mão têm um suporte escasso em aplicações convencionais para comunicar de forma eficiente com outros sujeitos. Adicionalmente, à medida que sistemas centralizados têm atraído ceticismo relativamente à sua privacidade e segurança, o desenvolvimento de soluções descentralizadas e alternativas têm aumentado, um movimento iniciado pela Bitcoin que culminou na tecnologia de blockchain e as suas variantes. Tendo como objectivo expandir a inclusão no panorama de aplicações de messaging, este projeto pretende demonstrar uma alternativa na interação humano-computador sem contacto direto físico e com suporte para indivíduos com deficiência, com foco no componente backend decentralizado. Utilizadores da aplicação são inseridos num sistema decentralizado baseado numa hash table distribuída que foi desenhado para comunicação segura (providenciado por um protocolo de messaging criptográfico customizado) e para troca de dados entre utilizadores. Tal sistema é tanto resiliente a ataques de adulteração de dados como também a pontos centrais de falha (presente em blockains), não tendo adicionalmente restrições ao nível de escabilidade a longo-prazo, algo que é um problem recorrente em plataformas baseadas em blockchain. As avaliações e experiências realizadas neste projeto demonstram um nível de performance semelhante a abordagens centralizadas convencionais, tendo uma melhor prestação que aplicações descentralizadas baseadas em blockchain no que toca à diferença no tempo entre enviar e receber mensagens

Crypto and Blockchain Fundamentals

I believe blockchain will do for trusted transactions what the Internet has done for information. - Ginni Rometty, CEO of IBM Since the 1990s, we have had an Internet of Information that allows us to seamlessly share information such as documents, images, emails, and videos over the Internet. While most Internet users do not need to understand the details of the technical protocols operating underneath user-friendly software interfaces, it is helplful to understand how they work at a high-level. With the Internet of Information, copies of information are routed over the Internet. If a sender emails a friend, the sender keeps the original email, and the friend receives a copy of the email. To transact value, i.e., money, over the Internet, one cannot send a copy. Instead, after the transfer of value is complete, the sender should no longer have the money, but rather the recipient should

Decentralized Autonomous Organizations and Decentralized Finance, A Bibliometric and Content Analysis

Decentralized Autonomous Organizations (DAOs) present a new technological advancement that may pose a challenge to traditional organizations in terms of governance and decision-making. DAOs offer a novel approach to organization and collaboration by implementing a decentralized, immutable, and trustless system. These organizations run on blockchain technology through the use of smart contracts, enabling autonomous and self-executing operations. Despite their potential, DAOs still face uncertainties regarding their security, governance, and scalability, among other challenges. To determine research gaps and aid in the successful development of DAOs, this paper conducts a bibliometric and content analysis, which is currently missing from existing literature, to provide structural support for this process. This paper identifies the most significant research streams and influential articles on DAOs, providing a comprehensive overview of the current state of this field. Moreover, it investigates the performance of major Decentralized Finance (DeFi) DAOs in light of these research streams, offering insights into their practical applications and effectiveness. To facilitate future research in this domain, the paper proposes several research questions for each identified research stream. These questions aim to address gaps in the current understanding of DAOs, paving the way for novel research that can contribute to the development and enhancement of this innovative technology

Blockchain in Agriculture: A PESTELS Analysis JAVIER

Blockchain (BC) represents a disruptive technology that has been extensively used to ensure immutability of digital transactions. Starting as an underlying mechanism in the digital currency sector, it has been applicable in a wide range of sectors and application domains. Agriculture represents a sector of significance for overall sustainability challenges that is benefiting from digitalisation and technological evolution and the enforcement of Industry 4.0 paradigm shift towards precision agriculture. Introduction of Internet of Things, and Cyber-Physical Systems increase overall complexity, with Big Data analysis and Machine Learning technologies paving the way for innovative applications. BC appears to be a promising technology for agriculture introducing new mechanisms for tracing of products and overall agricultural Supply Chain management from the farm to the fork. The authors perform a review of 152 scientific works, providing a concise summary for each and extracting current challenges and open issues for the application of BC in agriculture. By synthesizing their findings, they perform a state of the art analysis along the PESTELS framework. A large number of challenges including technological ones, create big research potential for the evolution of the area.SUSTAINABLE Project, funded by the European Union’s Horizon 2020 Research and Innovation Program, through the Marie Skłodowska-Curie-Research and Innovation Staff Exchange (RISE) under Grant 10100770