Blockchain Unchained or the Virtual El Dorado of Unlimited Opportunities. The Conflict-of-Law Context
2019
Abstract
The blockchain phenomenon is often perceived as a rather antagonistic element in relation to the current concept of the social contract, especially in the context of the pillar relations between the state and its citizens. This attitude has been formed mainly due to the understanding of blockchain technology through the prism of rapidly developing Bitcoin (BTC) or Ether (ETH) cryptocurrencies.
Nevertheless, the blockchain may not be identified only with cryptocurrencies. This technology may be a suitable platform for functioning of many other socially useful systems, in particular for securities settlement systems.