53 Pages Posted: 21 Dec 2017 Last revised: 5 Nov 2018
Date Written: December 20, 2017
This paper provides an introduction to blockchain technology and its legal implications. It explains how the underlying technology works and can be deployed in various ways to create applications with different features, including distributed and centralised platforms. It analyses the technology’s implications for law enforcement, private law (including contracts, companies, and securities), and EU data protection law. The purpose of this paper is to help legal and other professional advisors understand blockchain technology, so they can tailor appropriate advice, and to alert users of blockchain technology to the current legal uncertainty and associated risks.
This is a draft working paper. A shorter version of this paper, with an updated legal analysis, will be published forthcoming in JOLT, citation: Jean Bacon, Johan David Michels, Christopher Millard, Jatinder Singh, Blockchain Demystified: A Technical and Legal Introduction to Distributed and Centralised Ledgers, 25 Rich. J.L. & Tech. 2 (2018).
JEL Classification: C88, C99, K00, K12, K14, K2, K20, K21, K22, K29, K30, K42, K49, L86, O34, O38
Suggested Citation: Suggested Citation