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The governance of blockchain financial networks

Paech, Philipp (2016) The governance of blockchain financial networks. LSE Law, Society and Economy Working Papers (16/2017). London School of Economics and Political Science, Department of Law, London, UK.

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Identification Number: 10.2139/ssrn.2875487

Abstract

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, legal tender 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 for the necessary room for innovation.

Item Type: Monograph (Working Paper)
Official URL: http://www.lse.ac.uk/collections/law/wps/index.htm
Additional Information: © 2016 The Author
Divisions: Law
Subjects: H Social Sciences > HG Finance
K Law > K Law (General)
JEL classification: K - Law and Economics > K1 - Basic Areas of Law > K11 - Property Law
K - Law and Economics > K1 - Basic Areas of Law > K12 - Contract Law
K - Law and Economics > K2 - Regulation and Business Law > K22 - Corporation and Securities Law
K - Law and Economics > K3 - Other Substantive Areas of Law > K33 - International Law
Sets: Departments > Law
Date Deposited: 19 Apr 2018 14:31
Last Modified: 20 Feb 2019 04:00
URI: http://eprints.lse.ac.uk/id/eprint/87569

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