Die Hamburg Commercial Bank AG (HCOB) und das Frankfurt School Blockchain Center (FSBC) an der Frankfurt School of Finance and Management haben eine Studie zur Tokenisierung von Immobilien mittels Blockchain-Technologie veröffentlicht. Die Autoren analysieren in der Studie die Anbieter tokenisierter Immobilien weltweit und vergleichen Unternehmen und Transaktionen anhand objektiver Kriterien…


Authors: Jonas Gross, John Kiff

While much attention is focused on the retail central bank digital currency (rCBDC) ruminations of China, Europe and the United States, aside from China, smaller jurisdictions are actually leading the way. Although the People’s Bank of China launched their rCBDC pilot in April 2020, Banco…


Authors: Maximilian Forster, Jonas Gross, Anja Kristina Kamping, Serkan Katilmis, Dr. Mario Reichel, Prof. Dr. Philipp Sandner, Philipp Schröder

Digitization is taking hold of entire industries, including in Germany. The area of the “Internet of Things (IoT)”, in particular, promises revolutionary, new types of business models. In this context, the…


Authors: Markus Kaulartz, Jonas Gross, Constantin Lichti, Philipp Sandner, Stephan Raubach

In this article, we analyze from a legal perspective how the topic of data protection, in particular the General Data Protection Regulation (GDPR), plays out specifically in the context of blockchain-based databases. In our legal assessment, we distinguish between…


Authors: Markus Kaulartz, Jonas Gross, Constantin Lichti, Philipp Sandner, Stephan Raubach

In this article, we analyze from a legal perspective whether information systems such as computers or IT infrastructure technologies such as blockchain technology are subject to a legal obligation for audits or some other form of functional verification prior…


Authors: Maximilian Forster, Jonas Gross, Anja Kristina Kamping, Serkan Katilmis, Dr. Mario Reichel, Prof. Dr. Philipp Sandner, Philipp Schröder

Digitization is taking hold of entire industries, including in Germany. The area of the “Internet of Things (IoT)”, in particular, promises revolutionary, new types of business models. In this context, the…


Authors: Jonas Gross, Manuel Klein, Philipp Sandner

Recently, the Digital Euro Association, a thinktank around the digitization of money, was launched to help shaping the discussion around the digitization of money — especially in the Euro area — to stimulate public discourse and act as a unified voice on digital…


Authors: Martin Schäffner, Constantin Lichti, Jonas Gross, Philipp Sandner

Distributed ledger technology (DLT) has the potential to address industrial challenges, build trust, and unlock new value across businesses and industries via the use of smart contracts. Initially, DLT was mainly used for financial applications, such as Bitcoin as the first…


Authors: Philipp Sandner, Jonas Gross, Ilia Drozdov

This article sheds light on the application of blockchain technology to the existing financial market infrastructure, namely to post-trade settlement. We show how blockchain technology can facilitate trustless delivery vs. payment (DVP) settlement without any intermediary. Moving settlement processes entirely on decentral technologies…


Authors: Markus Kaulartz, Jonas Gross, Constantin Lichti, Philipp Sandner, Daniel Holk

In this article, we analyze from a legal perspective under which circumstances companies providing specific financial services require regulatory approval. We differentiate in our legal assessment between (i) finance leasing, (ii) factoring services, and (iii) sales financing. Furthermore, we…

Jonas Gross

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