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Blockchain and Institutions (II): The Realm of Law

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  • Plinio Limata

    (LUMSA University)

Abstract

Blockchains promise to bring disruptive changes at several levels well beyond the realm of cryptocurrencies, in which they were first deployed; centralized institutions are challenged. The present survey focuses on the potential frictions between the application of blockchain technologies and the realm of law. Several subtopics are highlighted as problematic. Findings show that the current state of the art does not sufficiently support the blockchain’s implementation on a societal level. Shortcomings and confusion among legal and economic concepts are highlighted to be addressed, and therefore clarity and uniformity are needed to ensure the benefits that may derive from the application of this technology.

Suggested Citation

  • Plinio Limata, 2020. "Blockchain and Institutions (II): The Realm of Law," CERBE Working Papers wpC36, CERBE Center for Relationship Banking and Economics.
    • Handle: RePEc:lsa:wpaper:wpc36
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    References listed on IDEAS

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    More about this item

    Keywords

    Blockchain; Law; Regulation; Smart Contract; Property;
    All these keywords.

    JEL classification:

    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • K10 - Law and Economics - - Basic Areas of Law - - - General (Constitutional Law)
    • K11 - Law and Economics - - Basic Areas of Law - - - Property Law
    • P14 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Property Rights

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