Blockchain and its Applications: A Conceptual Legal Primer

Forthcoming Journal of International Economic Law

UNSW Law Research Paper No. 22-46

46 Pages Posted: 12 Jan 2023 Last revised: 6 Feb 2023

See all articles by Ross P. Buckley

Ross P. Buckley

University of New South Wales (UNSW) - UNSW Law & Justice

Anton N. Didenko

University of New South Wales (UNSW) - Faculty of Law

Mia Trzecinski

Sch of Private&Commercial Law

Date Written: December 1, 2022

Abstract

Blockchain is a potent buzzword and a potentially transformative technology. Diverse businesses are looking to leverage this technology to reap its alleged benefits of increased efficiency, reduced costs, enhanced transparency and improved traceability. Yet, significant confusion persists about the structure, utility and applicability of blockchain technology. A clear understanding of what blockchain is and how it works is especially important for lawyers tasked with advising clients on the applications that use, or purport to use, it. This article aims to assist lawyers and scholars by providing conceptual clarity about what blockchain is, how it works, and its main use cases. These use cases include ICOs, STOs, cryptoassets, smart contracts, NFTs (non-fungible tokens), and some central bank digital currencies. These applications may transform business practices, or even entire monetary and payment systems. Rigorous conceptual clarity is needed around this technology and its principal applications.

Keywords: Blockchain, Smart Contracts, Cryptoassets, Initial Coin Offerings, Security Token Offering, Stablecoins, Non-Fungible Tokens, Central Bank Digital Currencies, CBDCs, DLT, Distributed Ledgers

Suggested Citation

Buckley, Ross P. and Didenko, Anton N. and Trzecinski, Mia, Blockchain and its Applications: A Conceptual Legal Primer (December 1, 2022). Forthcoming Journal of International Economic Law, UNSW Law Research Paper No. 22-46, Available at SSRN: https://ssrn.com/abstract=4318284

Ross P. Buckley (Contact Author)

University of New South Wales (UNSW) - UNSW Law & Justice ( email )

Sydney, New South Wales 2052
Australia

Anton N. Didenko

University of New South Wales (UNSW) - Faculty of Law ( email )

Kensington, New South Wales 2052
Australia

Mia Trzecinski

Sch of Private&Commercial Law ( email )

Kensington, New South Wales 2052
Australia

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