Abstract
Blockchain technology is a new general-purpose technology that poses significant challenges to the existing state of law, economy, and society. Blockchain has one feature that makes it even more distinctive than other disruptive technologies: It is, by nature and design, global and transnational. Moreover, blockchain operates based on its own rules and principles that have a law-like quality. What may be called the lex cryptographia of blockchain has been designed based on a rational choice vision of human behavior. Blockchain adopts a framing derived from neoclassical economics, and instantiates it in a new machinery that implements rational choice paradigms using blockchain in a semi-automatic way, across all spheres of life, and without regard to borders. Accordingly, a global law and cryptoeconomics movement is now emerging owing to the spread of blockchain.
| Original language | English |
|---|---|
| Pages (from-to) | 1117-1192 |
| Number of pages | 76 |
| Journal | Washington Law Review |
| Volume | 95 |
| Issue number | 3 |
| DOIs | |
| Publication status | Published - 17 Apr 2020 |
Keywords
- Bitcoin
- Blockchain
- Cryptoasset
- Ethereum
- Infrastructure
- Law and cryptoeconomics
- Law and political economy