Smart contracts, blockchain and export control compliance

Blockchain, export control, cross border trade

Andreas Furrer, Peter Henschel and Chris Gschwend describe in their essay "Compliance Officers: - Smart Contracts, Blockchain and Export Control Compliance" the possible effects of Blockchain technology on the role of the Export Control Compliance Officer. The opportunities arising from the introduction of this technology will be highlighted.

The authors recommend that compliance officers should deal intensively with these projects right from the start, making sure that the design of so-called blockchain-based smart contract systems is tailored to the compliance tasks. In addition to risk avoidance, this opens up the opportunity to implement a consistent "compliant by design" approach and thus efficiently support the tasks of the Compliance Officer.

The original of the essay can be called up here (PDF, 186 Kb).

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