In this bounty we will promote the study and the analysis of the emerging crypto legal primitives.
Primitives are self-sustaining building blocks, which are designed to do one specific task, and can be used in different contexts. Cryptographic primitives, such as hashing functions and digital signatures are the technological building blocks of blockchains. These have been complemented in blockchain networks by cryptoeconomic and financial primitives. Legal crypto primitives refer to performance obligations and risk management in blockchain based transactions, which can be expressed in deterministic code. Crypto Legal primitives will serve as the foundation for enabling and enforcing digital rights.
We will reward promising proposals with BRLN reputation tokens from Bounties Network.
Some of these primitives may include:
Management of ownership rights of digital assets (Owner ID / Property ID / Authentication / Authorisation)
Parties of a transaction (Self-sovereign identity)
Title (Smart Property, fractional ownership, bundle of rights). Embodied in a NFT with subtokens that represent auxiliary rights
Termination primitives (change of state)
Limitation of Liability (cap payments in case of termination or dispute resolution procedure)
Vesting / option based primitives (condition activated by an oracle)
Escrow primitives (managed by multisig smart contracts)
Blue Swan is an ecosystem for decentralised innovations bringing blockchain solutions to life. Our vision is the mass use of decentralised ledgers. Our mission is to build the basis for a decentralised environment through a new technology of trust. Blue Swan Academy is building a decentralised educational and talent platform in the areas of Blockchain Law, Cryptoeconomics and blockchain development. More information:
Identify a crypto legal primitive and provide a working example of it.
Description of a crypto legal primitive and a concrete use case.
Escrow deposit for tenancy contract
When a new tenancy is created, the deposit for the tenancy goes into a smart contract escrow denominated in a relevant stablecoin, with clear conditions for the return of the deposit and information about the dispute resolution procedure.
The deposit is automatically released to the tenant at the end of the tenancy contract if the conditions of the return of the deposit is fulfilled. If there is dispute over the deposit, the remains held in escrow while a resolution procedure takes place, and then distributes the deposit to the owner and the tenant in the proportions agreed.