Various Dimensions and Aspects of the Legal Problems of the Blockchain Technology

Comparative Law Working Papers, Volume 3. No. 1. 2019

13 Pages Posted: 8 Nov 2019

See all articles by Bedrettin Gürcan

Bedrettin Gürcan

University of Szeged Faculty of Law and Political Sciences

Date Written: January 1, 2019

Abstract

With technological developments in IT, many of the effective regulations start to have problems to answer the new technologic features and possibilities. These developments take advantage of the legal loophole and uncontrollably grow in worldwide. One another aspect of the developments on the IT is we start to talk about not only national legal gaps, but also international legal gaps due to the nature of the IT technology worldwide network.

One of the most promising technology since 2010 is blockchain technology, which is the technology that is open source, software-based, peer to peer technology. It uses a distributed ledger, to store users' transactions. Due to the emerging technology of blockchain and cryptocurrencies together, differences of the blockchain technology and cryptocurrencies could not be understood well. The blockchain is a technology, behind of the cryptocurrencies. Cryptocurrency is just a small part of the main driven technology of the blockchain.

There have been several legal concerns of the services that stored or provided a base on the blockchain technology. There is some research to try to determine which kind of legal gaps may be emerged due to blockchain technology. In addition, the big part of the research on the topic examines current legal problems of the blockchain services. However, it has not been studied is the wide scope of the impact of the blockchain technology in the different legal fields of law.

This study is going to include extensive research into the motivations to blockchain legal frame on the several fields of the law. We will also examine the different solutions for the problem or legal gaps of the blockchain services in order to shape the legal framework of the blockchain technology.

Keywords: Cryptocurrency, Blockchain, Law

JEL Classification: K00, K23

Suggested Citation

Gürcan, Bedrettin, Various Dimensions and Aspects of the Legal Problems of the Blockchain Technology (January 1, 2019). Comparative Law Working Papers, Volume 3. No. 1. 2019, Available at SSRN: https://ssrn.com/abstract=3475940

Bedrettin Gürcan (Contact Author)

University of Szeged Faculty of Law and Political Sciences ( email )

Szeged
Hungary

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