"Are Blockchains and Cryptocurrencies disrupting t

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A look back at the Blockchain and Cryptocurrencies conference organized on September 25, 2018 by the MBA in International Business Law - Management and Finance at ESLSCA Business School Paris.





he legal order?" This was business owner database the question that the conference attempted to answer. To achieve this, the work was divided into two parts: the first devoted to a technical-financial approach, the second dedicated to understanding the phenomenon from a legal and regulatory point of view.



Technology regularly presents itself today with a double face. On the one hand, a technical face because some specialists can claim that there is no technology today that provides a level of security and reliability equal to that of the Blockchain. On the other hand, a legal and judicial face that leaves doubts hanging and that has difficulty aligning itself with the guarantees offered by technology and specialists.



The aim of the conference is to reduce the gaps that may exist between the two worlds. This is why it was agreed to bring together technicians, financiers, bankers, tax specialists and eminent lawyers.



The questions raised by the subject are multiple and varied. The work initiated so far has already provided some answers. Other questions, however, remain at the mercy of practice and the goodwill of the regulatory authorities. Here are some of these questions:



Technically, how does a Blockchain work? What is a private key and a public key? What are the possible supports for these keys? What is the law applicable to the issuer of the public key? Is it the owner or simply responsible for the data? What guarantees are there for the holder in the event of misappropriation?
On the field of ownership and liability: how do these media impact the property right on the key? What to do in the event of loss? How to protect the data contained in the key? What liability regime and what competent authority? How to react to uses for illicit purposes? Who would be responsible for transactions in the absence of an administrator or operator? What recourse do Blockchain users have? No one owns the Blockchain. Does this mean that "no one is responsible"?
Structurally, now that financial products can be traded in DEEP, can we now consider Blockchain IPOs in the same way as stock market IPOs? What about the issues of threshold crossing, price manipulation, insider circles, etc. Can ISPs still hope to play a role? Should they consider adapting their practices? What authority and what control? By whom? If the system escapes control and intermediation mechanisms, what future for ISPs in DEEPs? Will they one day play a role or should they mourn it?
As for comparative law, which authorities have legislated on Blockchain or other products or devices derived from Blockchain (ICO, Bitcoin, etc.)? What are the reasons and objectives of their interventions? What are the qualifications given to each of these products? What are the tax consequences?
As for ICOs, what is their status around the world? Which countries have allowed them? Which countries have banned them and why? What is the legislative situation in France and what is the evolution?
In terms of Bitcoin, do they or can they have a liberating effect? ​​What role for central banks? Is it possible to create central banks responsible for cryptocurrencies? What does the BDF think about this?