The Governance of Blockchain Financial Networks

Bibliographic Data

ID9194294
AuthorsPhilipp Paech (United Nations, corresponding author)
Year2017
Volume80
Issue6
Pages1073-1110
Publication date2017-11-01
Open AccessYes
TypeARTICLE
VenueModern Law Review (JOURNAL)
Journal identifiersISSN: 0026-7961 • E-ISSN: 1468-2230
PublisherWiley (PUBLISHER • GB)
DOI10.1111/1468-2230.12303
OpenAlexW2624101300
LanguageEN
Citations received7

Since the emergence of the virtual currency Bitcoin in 2009, a new, Internet‐based way of recording entitlements and enforcing rights has increasingly captured the interest of businesses and governments. The technology is commonly called ‘blockchain’ and is often associated with a closely related phenomenon, the ‘smart contract’. The market is now exploring ways of using these concepts for financial assets, such as securities, fiat money and derivative contracts. This article develops a conceptual framework for the governance of blockchain‐based networks in financial markets. It constructs a vision of how financial regulation and private law should set the boundaries of this new technology in order to protect market participants and societies at large, while at the same time allowing the necessary room for innovation

Blockchain · Business · Commerce · Computer security · Corporate governance · Cryptocurrency · Currency · Digital currency · Economics · Financial market · Financial system · Monetary economics · Order (exchange) · Phenomenon · Virtual currency · Blockchain Technology Applications and Security · Computer Science · Finance · FinTech, Crowdfunding, Digital Finance · Global Financial Regulation and Crises

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Open DOISci-HubOpen Access