Hello my colleagues! My name is Ivan Stanković.

Today I have a presentation about

“Blockchain and the law”. Firstly, I will introduce you to the content of my presentation. I
will speak about Blockchain, DLT, smart contract, tokens and their legal definition,
something about Bitcoin and about blockchain in criminal law. For the end I will show you
my literature.
Slide 3.
Blockchain is a system in which a record of transaction made in bitcoin or another
cryptocurrency are maintained across several computers that are linked in a peer-to-peer
network. The blockchain is an undeniably ingenious invention – the brainchild of a person or
group of people known by the pseudonym. It is a distributed among a number of independent
and isolated nodes in a peer-to-peer network.
Slide 4.
Blockchain means a cryptographically secured, chronological and decentralized consensus
ledger or consensus database, maintained via Internet interaction or via peer-to-peer network.
Blockchain technology means distributed ledger technology that uses a distributed,
decentralized, shared and replicated ledger, which may be public or private. The data on the
ledger is protected with cryptography.
Slide 5.
Distributed ledger technology is a consensus of replicated, shared, and synchronized digital
data spread across several devices on peer-to-peer network. Distributed ledgers may be
permissioned or permissionless. This determines if anyone or only approved people can run a
node to validate transactions.
Slide 6.
Distributed ledger technology means a database system in which information is recorded and
consensually shared and synchronized across a network and all copies of database are
regarded as equally authentic. DLT is closely connected to the latest concepts of
understanding the term “document” because authorized information is more important than
the formal document containing it.
Slide 7.
Smart contract was described in 1997 by Nick Szabo as a combination of protocols with user
interfaces for the purpose of formalizing and securing relationships in computer networks.
The basic idea of “smart contract” is that many types of contractual clauses may be installed
in our equipment and software. The potential benefits of smart contracts are law contracting,
enforcement and compliance costs.
Slide 8.
Smart contract means an event-driven program, with state, that runs on a distributed,
decentralized, shared and replicated ledger that can take custody over and instruct transfer of
assets on that ledger. The first-ever country that legalize smart contract is Belarus in the
president Decree on Development of Digital Economy.
Slide 9.
The “term” token is not new. It has been functioning more years in digital economy as a
security mechanism, for example in banking or PKI. Tokens are element of smart contract
(technological tool).
Slide 10.
Token is some kind of digital certificate of indebtedness for the underlying right, which may
be general or privy. When a token is false, it is indicated a general intent to defraud, and it is
used for that purpose, it will render the offender guilty of the crime of cheating, but if it is a
privy token, as counterfeiting a letter in another man's name, in order to cheat but. one
individual, it would not be indictable
Slide 11.
Bitcoin is digital cryptocurrency which is made by Satoshi Nakamura. Satoshi Nakamura isn´t
name, it is a pseudonym. Bitcoin offers the promise of lower transaction fees than traditional
online payment mechanisms and is operated by a decentralized authority, unlike government-
issued currencies.
Slide 12.
The Bitcoin network is sharing a public ledger called the "blockchain". This ledger contains
every transaction ever processed, allowing a user's computer to verify the validity of each
transaction. The authenticity of each transaction is protected by digital signatures
corresponding to the sending addresses, allowing all users to have full control over sending
bitcoins from their own Bitcoin addresses.
Slide 13.
There are a growing number of businesses and individuals using Bitcoin. This includes brick-
and-mortar businesses like restaurants, apartments, and law firms, e.g. popular online services
such as Namecheap and Overstock.com