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Security and Privacy Oriented-Survey of Financial Applications Utilizing Blockchain
Křížová, Hana ; Malinka, Kamil (referee) ; Homoliak, Ivan (advisor)
Tato bakalářská práce se soustřeďuje na finanční aplikace vystavěné na blockchainu, kterým se také říká decentralizované finance (DeFi). Blockchain pro oblast finančnictví představuje zásadní technologii měnící dosavadní nastavení systému. V této práci jsou představeny reálné, ale také potencionální blockchainové aplikace z oblasti finančnictví a bankovnictví. Jsou ukázány jejich rozdíly a přínosy oproti dosavadním aplikacím, které jsou řízeny centrálním způsobem. Tato bakalářská práce se především soustřeďuje na identifikaci bezpečnostních hrozeb plynoucí z přechodu na blockchain a navrhuje jejich potencionální řešení.
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Collective management in the context of modern technologies
Smolka, Lucie ; Dobřichovský, Tomáš (referee)
COLLECTIVE MANAGEMENT IN THE CONTEXT OF MODERN TECHNOLOGIES MGR. BC. LUCIE SMOLKA, PH.D. The thesis focuses on transformation of the role of collective management in the online world. The main goal and the research question that this work sets is to analyse and provide an answer to the question how the collective management and its position changes depending on modern technologies (especially the Internet). Within this main research question, two tendencies are observed, two main areas influenced by the general characteristics of copyright, reflected in the functioning of collective management in the environment of modern technologies. An aspect that permeates the work is the view of copyright territoriality and its influence and its changes regarding the collective management. The goal is to find out how the application and perception of the principles of territoriality is changing in a context of ever-increasing intersection of copyright and modern technologies. In addition to the general features of collective management, in connection with the territoriality, we will concentrate on multi-territorial licensing instruments, which were introduced, despite the previous efforts, only through the Collective Management Directive. The second examined feature and an important principle is the autonomy...
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Blockchain at the European Level
Drašković, Teodora ; Kunertová, Tereza (advisor) ; Vondráčková, Aneta (referee)
Blockchain at the European Level Abstract The objective of this master thesis is to provide a basic overview of the blockchain technology, its features and its potential utilization, including an overview of European legal regulations that might be applicable to the technology, under certain conditions. In the first chapter, the master's thesis sets forth the legal framework of the EU primary law that establishes or can establish the EU's competence to act in the matters of blockchain technology, depending on its legal qualification (especially in the context of the internal market - namely the free movement of services and capital). The second and third chapters provide essential description of features of blockchain and cryptocurrency and related services. A more detailed description is provided in Annexes I-IV of this thesis. Further, the legal status and applicable regulation of cryptocurrencies are assessed at the European and national levels and in terms of other global jurisdictions. The assessment also includes the recent CJEU's judgment in the case Hedqvist, according to which bidirectional exchange services (purchase of cryptocurrency for fiat currency and vice versa) are to be exempted from VAT obligation under the VAT directive. In line with the CJEU's reasoning and the Advocate General's...
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Changes of financial system in the context of financial crisis
Karan, Boris ; Šíma, Ondřej (advisor) ; Pour, Jiří (referee)
In this paper, we analyse the relation between financial system and financial crises. Our goal is to find how, on the one hand, changes in the financial system affect the prospects for financial crises and, on the other hand, how the occurrence of financial crises shape the core elements of the financial system. We start by defining the financial crisis from three different perspectives. After it, we present the comprehensive history of financial crises that will allow us to continue by drawing some common patterns that are universal. Universal patterns in crises give us the ground for contemplating on some universal policy responses where we again follow different approaches. Taking into account the specifics of modern times and using the young and promising economy based on the blockchain, we are asking the question is this time different?. Analysis of initial development steps in the digital, trustless world gives us the basis for drawing parallels with the reality and the history. Our results suggest that there are many similarities throughout history and between the real and digital world. Instead of providing an exact answer on the question is this time different we conclude that there is a present strong feeling of Deja vu.
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Ronald Coase by rád Bitcoin? Jak Blockchain snižuje náklady na transakci a mění koasijskou firmu
Kaid, Amira ; Stroukal, Dominik (advisor) ; Prokop, Jaromír (referee)
The rising popularity of blockchain technology otherwise known as the technology that underlies the Bitcoin protocol has been the subject of a lot of investigation and enthusiasm among financial organizations for its potentially revolutionary properties that will likely change how the economy works in the future. The blockchain is a decentralized open source ledger that records bitcoin transactions and is maintained by a distributed network of miners. Blockchain technology however has many applications beyond currency and can be applied in various areas including the firm organizational structure and law. This thesis examines how blockchain technology would lower the transaction costs involved in organizing the firm and how it would thus change the role of the firm. Coase (1937) in his article (The Nature of the Firm) explained that firms exist and continue to operate in a hierarchal manner because of the transaction costs that are involved in using the market mechanism. This paper also examines how the blockchain would lower the transaction costs of resolving disputes through carrying out market transactions that were mentioned by Coase (1960) in (The Problem of Social Cost). In order to achieve this aim Coases framework is used to theoretically model a future firm and legal system which are blockchain-based and that use bitcoin in their transactions. The results indicate that blockchain technology would reduce the transaction costs pointed out by Coase in such a way that it would cause the firm to become less hierarchal in nature and would allow it to adopt a more inclusive and distributed management system. Similarly in the case of law the transaction costs would fall making it easier for parties to resolve their disputes using the market mechanism instead of having to rely on a central authority.
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