Blockchain is a new technology widely used in many fields such as voting, tracking, medical data storage, and transfer. Anyone can access the information on the blockchain, and anyone can add to it, but it is extremely difficult to modify data. Cryptocurrencies are also making use of blockchain technology and are currently proliferating at an unprecedented pace. The rise of cryptocurrencies has led to several reactions from governments around the world. One reaction has been the design of Central Bank Digital Currencies (CBDCs). Cryptocurrencies are generally not considered legal tender in many countries. This LL.M. Thesis studies the central bank's uses of blockchain-based currencies using the example of El Salvador, which is the first state to introduce a cryptocurrency, Bitcoin, as legal tender. It also analyzes comparatively the legal framework and economic ramifications of two Gulf countries, the UAE and Qatar, in view of a potential future adoption of blockchain-based currencies as legal tender.
| Date of Award | 2023 |
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| Original language | American English |
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| Awarding Institution | |
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THE USE OF CRYPTOCURRENCY AS A LEGAL TENDER: A LEGAL ASSESSMENT
Alhammadi, M. (Author). 2023
Student thesis: Doctoral Dissertation