Open Letter Summary
The letter advocates for technological neutrality, ensuring freedom of choice and adaptability of regulations, irrespective of the technology used. It also emphasizes the need for clarification within the Data Act, as the current text could inadvertently limit the use of Smart Contracts based on public/permissionless technology and introduce uncertainty for already deployed Smart Contracts. This scenario could pose significant challenges for SMEs who heavily rely on these Smart Contracts for their operations and business models.
While we understand the intention of the EU regulator was not to regulate smart contracts deployed on public/permissionless technology, our proposed refinements emphasize three key potential amendments that aim to clarify the regulator’s intention and minimize potential negative impacts (in order of preference):
We believe these proposed changes align with the principle of technological neutrality, ensuring equal treatment to all technological solutions and fostering an environment conducive to innovation and growth.
Below you can read and download the Open Letter About Concerns and Proposed Refinements Regarding the Regulation of Smart Contracts in the Data Act. If you wish to support this Open Letter, send your logo and information about your organization’s representatives to one of the organisations leading discussions about the Data Act. You can find our email addresses on the About Us page.
Viktor Tron, Co-founder
Roald Parmentier, Founder
Ismael Arribas, Co-Founder & CEO
Radoslav Albrecht, Founder & CEO
Sabine de Witte, Chief of Staff
Martin Schmidt, co-founder
Raj K Bagadi, Founder & Director
Chris Donovan, General Counsel
Daniel Wellinger, Foundation Board Member
Angela Kreienweis, Founder
Miguel Angel Dominguez, Chairman