78 / European kill switch
Smart contracts must have a shutdown switch

Episode 78 reviews the Data Act and the European kill switch that will be required for smart contracts. It discusses whether the calculator app is a smart contract itself, based on the regulation interpretation. The potential illegality of Bitcoin and Ethereum mining unless they have backdoors is also explored.

Timeline

01:11 Slack broke GDPR

03:05 Article 30

05:06 Backdoor to the backdoor

08:42 Calculator is a smart contract

11:29 Is Bitcoin illegal?

13:58 Is Data Act even necessary?

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Episode notes

• European Data Act (see Article 30, “termination”), though most clearly written for IoT devices
• Definition of an ‘electronic ledger’ (ctrl+F “(53)”) “tamper proof electronic record of data, providing authenticity and integrity of the data it contains, accuracy of their date and time, and of their chronological ordering’;”
• Calculator app is a “smart contract”

• Invite to the episode: Makis, Sander, Raido, Estonia crypto chamber (co-sponsor?), BitBoy
• Photo: many fingers on a button
• Workshop: How to implement the European kill switch (required for smart contracts) // part 1 of 3, who can press the button
  • Draft status
  • Focused on internet of things
  • GDPR defined who is the owner of data and who is the processor of data
  • This is kind of a next step in GDPR
  • Requirement:
    • safe termination and interruption: ensure that a mechanism exists to terminate the continued execution of transactions: the smart contract shall include internal functions which can reset or instruct the contract to stop or interrupt the operation to avoid future (accidental) executions;
  • If you get published in the Official Journal of the European Union, the requirements are “presumed” to be followed
  • According to the definition of a “smart contract”, a calculator (or any program on a computer) counts.
  • Is the blockchain itself a “smart contract”? and that makes them all illegal?
  • Recommendation: recursive Gnosis safes
  • https://digital-strategy.ec.europa.eu/en/policies/data-act
• Invite: https://twitter.com/ProfSchrepel/status/1635556417930252288
• European Data Act (see Article 30, “termination”)
• Definition of an ‘electronic ledger’ (ctrl+F “(53)”)
  • “(53) ‘electronic ledger’ means a tamper proof electronic record of data, providing authenticity and integrity of the data it contains, accuracy of their date and time, and of their chronological ordering’;”
• Tweet: share to EUCI

Tweet

1. Episode 78 reviews the Data Act and the European kill switch that will be required for smart contracts.

   https://youtu.be/stPEVi5qivw

2. It looks like even the calculator app is a smart contract depending on how you read the regulation.

   Bitcoin and Ethereum mining also appear to be illegal unless they have backdoors.

   https://youtube.com/shorts/RUeSVrgF1TI