Soon the death of smart contracts in Europe?
The EU votes the agreement on the Data Governance Act
On May 30, 2022, the European Parliament voted the Data Governance Act. Initially intended to improve the sharing of personal and non-personal data for the IoT, it later reported a surprising mention of smart contracts.
Thus, since the beginning of 2023, a new article, article 30, concerns the “essential prerequisites relating to smart contracts dedicated to data sharing”. Among these prerequisites, the EU wants the systematic implementation of a “kill switch”. In other words, a functionality allowing to terminate or interrupt any transaction in connection with a given smart contract.