Research Article

Distributed Ledgers And Their Implications In Information Technology Law

Volume: 5 Number: 2 December 29, 2023
TR EN

Distributed Ledgers And Their Implications In Information Technology Law

Abstract

Electronic communications security has gained a considerable significance in parallel with the increasing usage of the information and communication technologies. Being one of these technologies, distributed ledger technologies (DLTs), more specifically the blockchains, are regarded as a revolution which propose a new era, called “blockchain of things” following the era of “internet of things”. While DLTs promoted the business functionalities and compliance with information security obligations, it has also some vulnerabilities. By the DLTs the cost of intermediaries could easily be eliminated while at the same time assets/transactions are recorded and secured digitally. Nevertheless, this has simultaneously resulted in decentralised power/anarchy. Besides, majority of the studies focus on the contributions of the DLTs. This article aims to concentrate on the security aspect of this technology, which is often disregarded. Thus, after addressing fundamental characteristics of DLTs, it will unfold their tools and advantages in terms of compliance to information security obligations, then, exercise its vulnerabilities and related risks with respect to information security legal frameworks from over the world.

Keywords

Ethical Statement

This article is based on a study of the author presented for the master program in Queen Mary University of London.

References

  1. Accenture. (2016) Seizing the Opportunities Unlocked by the EU’s Revised Payment Services Directive PSD2: A Catalyst for New Growth Strategies in Payments and Digital Banking. Everyday Bank Research Series accessed 3 May 2023.
  2. Article 29 Data Protection Working Party. (2014) Opinion 05/2014 on Anonymisation Techniques 0829/14/EN WP216. accessed 4 November 2023.
  3. European Network and Information Security Agency. (2014) Network and Information Security in The Finance Sector: Regulatory Landscape and Industry Priorities. accessed 10 February 2019.
  4. European Union Agency for Network and Information Security. (2015) Information Security and Privacy Standards for SMEs: Recommendations to Improve the Adoption of Information Security and Privacy Standards in Small and Medium Enterprises accessed 4 November 2023.
  5. Fedorov, A. K., Kiktenko, E. O. and Lvovsky, A. I. (2018) Quantum Computers Put Blockchain Security at Risk. Nature, 563, 465.
  6. Filippi, P. D. and Wright, A. (2018) Blockchain and the Law: The Rule of Code (2nd edn). Cambridge, Massachusetts: Harvard University Press.
  7. Kuszmaul, W. (15 January 2019) The (Almost) Secret Algorithm Researchers Used to Break Thousands of RSA Keys. Algorithm Soup accessed 3 May 2023.
  8. Lee, Y.N. (12 December 2017) Bitcoin Hack: Expect Larger Cyber Attacks in 2018, A10 Networks Says. CNBC accessed 3 May 2023.

Details

Primary Language

English

Subjects

Information and Technology Law

Journal Section

Research Article

Early Pub Date

December 26, 2023

Publication Date

December 29, 2023

Submission Date

November 5, 2023

Acceptance Date

December 25, 2023

Published in Issue

Year 2023 Volume: 5 Number: 2

APA
Sümer Özdemir, N. (2023). Distributed Ledgers And Their Implications In Information Technology Law. Kişisel Verileri Koruma Dergisi, 5(2), 15-27. https://izlik.org/JA25SR62RB
AMA
1.Sümer Özdemir N. Distributed Ledgers And Their Implications In Information Technology Law. Kişisel Verileri Koruma Dergisi. 2023;5(2):15-27. https://izlik.org/JA25SR62RB
Chicago
Sümer Özdemir, Necla. 2023. “Distributed Ledgers And Their Implications In Information Technology Law”. Kişisel Verileri Koruma Dergisi 5 (2): 15-27. https://izlik.org/JA25SR62RB.
EndNote
Sümer Özdemir N (December 1, 2023) Distributed Ledgers And Their Implications In Information Technology Law. Kişisel Verileri Koruma Dergisi 5 2 15–27.
IEEE
[1]N. Sümer Özdemir, “Distributed Ledgers And Their Implications In Information Technology Law”, Kişisel Verileri Koruma Dergisi, vol. 5, no. 2, pp. 15–27, Dec. 2023, [Online]. Available: https://izlik.org/JA25SR62RB
ISNAD
Sümer Özdemir, Necla. “Distributed Ledgers And Their Implications In Information Technology Law”. Kişisel Verileri Koruma Dergisi 5/2 (December 1, 2023): 15-27. https://izlik.org/JA25SR62RB.
JAMA
1.Sümer Özdemir N. Distributed Ledgers And Their Implications In Information Technology Law. Kişisel Verileri Koruma Dergisi. 2023;5:15–27.
MLA
Sümer Özdemir, Necla. “Distributed Ledgers And Their Implications In Information Technology Law”. Kişisel Verileri Koruma Dergisi, vol. 5, no. 2, Dec. 2023, pp. 15-27, https://izlik.org/JA25SR62RB.
Vancouver
1.Necla Sümer Özdemir. Distributed Ledgers And Their Implications In Information Technology Law. Kişisel Verileri Koruma Dergisi [Internet]. 2023 Dec. 1;5(2):15-27. Available from: https://izlik.org/JA25SR62RB