The governance of blockchain financial networks

Philipp Paech

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

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.

Keywords: blockchain technology; fintech; financial assets; financial regulation; private law; private international law (search for similar items in EconPapers)
JEL-codes: K11 K12 K22 K33 (search for similar items in EconPapers)
Pages: 45 pages
Date: 2016-11-30
New Economics Papers: this item is included in nep-ict, nep-law and nep-pay
References: Add references at CitEc
Citations:

Downloads: (external link)
http://eprints.lse.ac.uk/87569/ Open access version. (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:87569

Access Statistics for this paper

More papers in LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library LSE Library Portugal Street London, WC2A 2HD, U.K.. Contact information at EDIRC.
Bibliographic data for series maintained by LSERO Manager ().