How to Improve Smart Contracts in the European Union Data Act

Journal article

Abstract The article analyses the role of smart contracts in the architecture of the European Union’s Data Act proposal. It identifies five difficulties: lack of flexibility in terms of both content and operation; dependence on oracles which could lead to errors; vulnerability to bugs and changes in architecture; immutability and privacy; and problems of enforcement. It then offers some recommendations about how to address them to improve the Data Act.

Authors: Casolari, F; Taddeo, M; Turillazzi, A; Floridi, L

• Publication status: Published
• Peer review status: Peer reviewed
• Publisher: Springer Nature
• Journal: Digital Society
• Volume: 2
• Issue: 1
• Pages: 9
• Article number: 9
• Publication date: 2023-03-18
• DOI: 10.1007/s44206-023-00038-2
• ISSN: 2731-4650
• Language: English
• Keywords: Blockchain; European union; Business; International trade; Computer science; Law; Risk analysis (engineering); Immutability; Political science; Data Protection Act 1998; Economics; Flexibility (engineering); Computer security; Data retention; Architecture; Internet privacy; Enforcement; Vulnerability (computing)