區塊鏈技術應用於我國公司治理法制之研究

Study on Applications of Blockchain Technology in Taiwan Corporate Governance

區塊鏈技術（Blockchain Technology）原是作為比特幣（Bitcoin）（即為一種虛擬加密貨幣）的基礎技術，本質是去中心化（Decentralized）的網路資料庫，即不需要透過中介機構，使用者可直接透過網路進行電子商務交易。區塊鏈技術具有以下優點，去中心化、去中介化、可溯性、開放性、獨立性、高度安全性及匿名性。本文擬探討區塊鏈技術運用在公司治理時所可能碰觸之相關法律制度，例如股權移轉時點認定、會計帳目記載方式及審計制度、公司重大事項的即時紀錄及董事責任或報酬計算的連動影響等，而我國法制目前並未有因應此一新科技的相關配套，故有本文撰寫動機。良好的公司治理法制追求降低企業代理成本（AgencyCost）、重要資訊（Material Information）能有效且即時公開、提升會計與審計之核實準確度、維護全體股東權益等目的，而區塊鏈技術是否能協助前揭目的達成，實值探究。本文擬以美國德拉瓦州公司法2017年通過之區塊鏈技術法制發展為基礎，進而探討區塊鏈技術運用於我國公司治理的可行性與可能遭遇的法制問題，最終提出對於我國未來法制運作可能之參考方向作為本文結論。 The blockchain technology at the first time is to formulate a public ledger that recordsbitcoin transactions. Bockchain is decentralized data inherently resistant to modification ofthe data, so it is deemed as an open, distributed ledger that can efficiently record transactionsbetween two parties and the record is verifiable and permanent. At this paper, the authorplans to discuss and analyze issues relating to the interrelationship between blockchain andcorporate governance, such as how to calculate duration of a stock transaction, how to improvethe quality of accounting and auditing, how to record material information of a corporationsimultaneously and how liability and compensation of a corporate director will be affectedby this new technology. It is an open question how Taiwan business law (including CompanyAct, Securities and Exchange Act and Mergers and Acquisitions Act) would address suchissues deriving from the blockchain technology in the near future. Enterprise has been seekingto r educe agency cost. Moreover, it seeks for how to disclose the material information ina timely manner, how to make trading systems transparency, how to keep accurate auditingand checking functions, and how to ensure shareholders’ rights. In conclusion, this paper isexpected to offer legislative and policy suggestions for Taiwan with a comparative view bylegal analyses and cases studies.