Blockchain, Digital Transformation and the Law: What Can We Learn from the Recent Deals?

Research output: Contribution to conferencePaperResearchpeer-review

Abstract

Recent years have seen a surge in the use of blockchain technologies, not least because of the increased use of cryptocurrencies such as Bitcoin which rely on it. While some of the generated interest can be dismissed as hype, there is little doubt that blockchain is a technology with the potential to revolutionise certain areas of law. A careful reader following the trends would have noticed that Maersk, the Danish business conglomerate, was involved with no less than three deals revolving, in one way or another, around blockchain technology Such news should intrigue the reader since adoption of experimental methods or newest IT technologies does not normally characterise the inert maritime and transport industries. We will in this short piece give an overview of the relevance of blockchain and briefly look at three different deals which Maersk concluded around the technology. We will then give an outline of potential legal problems which these and similar deals might bring. Our preliminary conclusion is that blockchain technology - in some instances at least - has the potential to disrupt the role law traditionally plays in negotiating and executing international contracts.
Recent years have seen a surge in the use of blockchain technologies, not least because of the increased use of cryptocurrencies such as Bitcoin which rely on it. While some of the generated interest can be dismissed as hype, there is little doubt that blockchain is a technology with the potential to revolutionise certain areas of law. A careful reader following the trends would have noticed that Maersk, the Danish business conglomerate, was involved with no less than three deals revolving, in one way or another, around blockchain technology Such news should intrigue the reader since adoption of experimental methods or newest IT technologies does not normally characterise the inert maritime and transport industries. We will in this short piece give an overview of the relevance of blockchain and briefly look at three different deals which Maersk concluded around the technology. We will then give an outline of potential legal problems which these and similar deals might bring. Our preliminary conclusion is that blockchain technology - in some instances at least - has the potential to disrupt the role law traditionally plays in negotiating and executing international contracts.

Seminar

SeminarMaritime Contracts Seminar
LocationCopenhagen Business School
CountryDenmark
CityFrederiksberg
Period22/03/201822/03/2018
Internet address

Cite this

Savin, A. (2018). Blockchain, Digital Transformation and the Law: What Can We Learn from the Recent Deals?. Paper presented at Maritime Contracts Seminar, Frederiksberg, Denmark.
Savin, Andrej. / Blockchain, Digital Transformation and the Law : What Can We Learn from the Recent Deals?. Paper presented at Maritime Contracts Seminar, Frederiksberg, Denmark.6 p.
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title = "Blockchain, Digital Transformation and the Law: What Can We Learn from the Recent Deals?",
abstract = "Recent years have seen a surge in the use of blockchain technologies, not least because of the increased use of cryptocurrencies such as Bitcoin which rely on it. While some of the generated interest can be dismissed as hype, there is little doubt that blockchain is a technology with the potential to revolutionise certain areas of law. A careful reader following the trends would have noticed that Maersk, the Danish business conglomerate, was involved with no less than three deals revolving, in one way or another, around blockchain technology Such news should intrigue the reader since adoption of experimental methods or newest IT technologies does not normally characterise the inert maritime and transport industries. We will in this short piece give an overview of the relevance of blockchain and briefly look at three different deals which Maersk concluded around the technology. We will then give an outline of potential legal problems which these and similar deals might bring. Our preliminary conclusion is that blockchain technology - in some instances at least - has the potential to disrupt the role law traditionally plays in negotiating and executing international contracts.",
author = "Andrej Savin",
year = "2018",
language = "English",
note = "null ; Conference date: 22-03-2018 Through 22-03-2018",
url = "https://www.cbs.dk/forskning/institutter-centre/juridisk-institut/arrangementer/maritime-contracts-seminar",

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Savin, A 2018, 'Blockchain, Digital Transformation and the Law: What Can We Learn from the Recent Deals?' Paper presented at, Frederiksberg, Denmark, 22/03/2018 - 22/03/2018, .

Blockchain, Digital Transformation and the Law : What Can We Learn from the Recent Deals? / Savin, Andrej.

2018. Paper presented at Maritime Contracts Seminar, Frederiksberg, Denmark.

Research output: Contribution to conferencePaperResearchpeer-review

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T1 - Blockchain, Digital Transformation and the Law

T2 - What Can We Learn from the Recent Deals?

AU - Savin,Andrej

PY - 2018

Y1 - 2018

N2 - Recent years have seen a surge in the use of blockchain technologies, not least because of the increased use of cryptocurrencies such as Bitcoin which rely on it. While some of the generated interest can be dismissed as hype, there is little doubt that blockchain is a technology with the potential to revolutionise certain areas of law. A careful reader following the trends would have noticed that Maersk, the Danish business conglomerate, was involved with no less than three deals revolving, in one way or another, around blockchain technology Such news should intrigue the reader since adoption of experimental methods or newest IT technologies does not normally characterise the inert maritime and transport industries. We will in this short piece give an overview of the relevance of blockchain and briefly look at three different deals which Maersk concluded around the technology. We will then give an outline of potential legal problems which these and similar deals might bring. Our preliminary conclusion is that blockchain technology - in some instances at least - has the potential to disrupt the role law traditionally plays in negotiating and executing international contracts.

AB - Recent years have seen a surge in the use of blockchain technologies, not least because of the increased use of cryptocurrencies such as Bitcoin which rely on it. While some of the generated interest can be dismissed as hype, there is little doubt that blockchain is a technology with the potential to revolutionise certain areas of law. A careful reader following the trends would have noticed that Maersk, the Danish business conglomerate, was involved with no less than three deals revolving, in one way or another, around blockchain technology Such news should intrigue the reader since adoption of experimental methods or newest IT technologies does not normally characterise the inert maritime and transport industries. We will in this short piece give an overview of the relevance of blockchain and briefly look at three different deals which Maersk concluded around the technology. We will then give an outline of potential legal problems which these and similar deals might bring. Our preliminary conclusion is that blockchain technology - in some instances at least - has the potential to disrupt the role law traditionally plays in negotiating and executing international contracts.

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Savin A. Blockchain, Digital Transformation and the Law: What Can We Learn from the Recent Deals?. 2018. Paper presented at Maritime Contracts Seminar, Frederiksberg, Denmark.