Sebastian Pech

Investigator:
Sebastian Pech

Abstract:
Blockchain technology is mainly discussed in connection with cryptocurrencies, such as Bitcoin. However, blockchain is a multipurpose technology with many potential applications other than cryptocurrencies. One of them is the tokenization of assets, especially artworks. In the context of tokens, issues on securities law have been mainly discussed thus far. However, the tokenization of artworks also raises various copyright implications, which are examined under United States (US) and European Union (EU) law. The key questions addressed in this context include which rights the acquirer of a tokenized artwork receives, which rights are affected by creating and offering tokenized works, and whether the author of the tokenized work will receive a share of the sales proceeds. Based on the current legal situation, the project also elaborates on whether legislative amendments are advisable or whether the existing regulations are sufficient.