NORDSCI Conference proceedings 2019, Book 2

Law

APPLICATION OF THE BLOCKCHAIN TECHNOLOGY IN ORGANISATIONAL UNITS WITH LEGAL CAPACITY OR LEGAL PERSONALITY, FOR THE LAW AS IT STANDS AND THE LAW AS IT SHOULD STAND (DE LEGE LATA AND DE LEGE FERENDA), ON THE EXAMPLE OF REGULATIONS OF POLISH LAW

Prof. MCSU dr hab. Grzegorz Kozieł

ABSTRACT

The statement concerns the scope of possible application of the blockchain technology in organisational units with legal capacity or legal personality, for the law as it stands and the law as it should stand (de lege lata and de lege ferenda) in the regulations of Polish law. Organisational units in which the use of this technology is being considered (de lege lata) in the area related to trading in stocks in dematerialised form, include companies. This technology can be used – in the event of the adoption and entry into force of the proposed provisions – in accordance with the current draft amendments to the Code of Commercial Companies in a so-called simple joint-stock company in the area of keeping stock records. The organisational units in which the use of blockchain technology in a wider scope than mentioned above can be considered de lege ferenda should include, with the assumption of dematerialisation of equity interest (or other participation units than equity interest), primarily capital companies, mutual insurance companies (or mutual reinsurance companies) and cooperatives, including in particular European cooperatives, as well as commercial partnerships. One cannot exclude the admissibility of using blockchain technology, for the law as it should stand, also with regard to other organizational units having legal capacity, in which there are legal institutions identical or similar to those above-mentioned, also in other legal systems than in Poland. This study applies primarily the formal-dogmatic method in relation to generally applicable legal acts, and within this methodology, as a rule, all available methods of interpretation, including in particular linguistic interpretation and systemic interpretation.

KEYWORDS

blockchain technology, organisational units, commercial companies and partnerships, cooperatives, mutual insurance (or reinsurance) companies

REFERENCE

NORDSCI Conference Proceedings 2019, Book 2, Conference Proceedings, ISSN 2603-4107, ISBN 978-619-7495-06-5, APPLICATION OF THE BLOCKCHAIN TECHNOLOGY IN ORGANISATIONAL UNITS WITH LEGAL CAPACITY OR LEGAL PERSONALITY, FOR THE LAW AS IT STANDS AND THE LAW AS IT SHOULD STAND (DE LEGE LATA AND DE LEGE FERENDA), ON THE EXAMPLE OF REGULATIONS OF POLISH LAW, 233-239 pp, DOI paper 10.32008/nordsci2019/b2/v2/21