Blockchain Technology and the Law

Blockchain Technology and the Law: Opportunities and Risks was one of the first texts to offer a critical analysis of Blockchain and the legal and economic challenges faced by this new technology. It offered those who are unfamiliar with Blockchain an introduction as to how the technology works and demonstrates how a legal framework that governs it can be used to ensure that it can be successfully deployed. This second edition features a discussion of issues that did not exist at the time the first edition was published, presenting new topics will help to reinforce the central premise of the book that the acceptability of Blockchain-based applications will depend on whether they can enhance efficiency and lower transactions costs.Significant new content added to this edition includes an examination of the proliferation of new applications of distributed ledger technology, such as Non-Fungible Tokens (NFTs) and, in the payments realm, Stablecoins and proposals that relate to Central Bank Digital Currencies (CBDCs). High-profile incidents in the payments realm (for instance, the DAO case and a new case currently working its way through the Canadian and American Courts, the Cicada case, as well as Celsius and FTX) and also in the securities realm have forced regulators around the globe to take a hard look at enforcing existing regulations more vigorously, and promulgating new ones where existing regulations may be found lacking. There have also been new changes on the privacy law side (with respect to open banking proposals) and in the emergence of what is referred to as “big data” generally.These and other developments have led to a consideration of new legal issues that had not been considered at the time of the original book; as a result the second edition is greatly expanded throughout and features two new chapters. The book is written for practicing lawyers, jurists and academics. It should be found on the shelves of libraries of law firms and law faculties, business schools and universities in general.