Abstract
We are living in a 21st century where technology is entering into our life, our home and our daily-routine. Nevertheless, an ordinary citizen usually does not understand how deeply technology is integrated in our modern world. Technology is not only influencing private individuals, it is also coming to the public sector. One of the core examples of such a development is blockchain - a brand-new trust-based system used in both private and public sectors that is seen by them as an alternative to traditional systems of societal relations. Blockchain remains one of the most legally controversial topics of the modern community. Now, there are no official legal means to control the blockchain system, as origin and legal status of it cannot be explained by legal scholars. However, as blockchain is a largely used system, it cannot stay unregulated. This paper will elaborate on what blockchain is as an issue, on what has already been done by states towards its regulation and on benefits it can bring to states and private entities.
| Original language | English |
|---|---|
| Article number | 6 |
| Pages (from-to) | 48-50 |
| Number of pages | 3 |
| Journal | ELSA Synergy Magazine |
| Volume | 66 |
| Issue number | 1 |
| Publication status | Published - 24 Dec 2019 |
| Externally published | Yes |
Keywords
- Blockchain technology
- Regulation
- Innovation
