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Early Regulations of Distributed Ledger Technology/Blockchain Providers: A Comparative Case Study
Item Summary
Title: | Early Regulations of Distributed Ledger Technology/Blockchain Providers: A Comparative Case Study |
Authors: | Scholl, Hans Jochen Pomeshchikov, Roman Rodríguez Bolívar, Manuel Pedro |
Keywords: | Blockchain, DLT, Tokenization, and Digital Government distributed ledger technology blockchain token economy regulation show 1 moredigital government show less |
Date Issued: | 07 Jan 2020 |
Abstract: | Distributed Ledger Technologies (DLTs) such as Blockchain have been heralded for their potential to fundamentally disrupt traditional industries and longstanding practices in private and public business-es. In the financial sectors, for example, quite a number of novel financial technology (fintech) services based on DLT/Blockchain have been introduced with cryptocur-rencies representing prominent cases. While the already highly regulated financial sectors have emerged as ear-ly targets for DLT/Blockchain induced disruption, a diverse set of other areas, such as healthcare record keeping, insurance record keeping, industrial and retail supply chain management, property registries, citizen identification systems, and voting systems to name a few, has also come into the focus of DLT/Blockchain innovation. These new types of services might be in need of both complementary and novel regulations for DLT/Blockchain-based services. Interestingly, smaller jurisdictions such as Bermuda, Gibraltar, Malta, and Liechtenstein were among the first to provide advice and regulation for DLT/Blockchain service provisions. The study compares these early regulatory approaches to each other and discusses the prospects of DLT/Blockchain service regulation based on the study’s findings. DLT/Blockchain service regulation appears to incorporate predominantly principle-based rather than rule-based regulations, which makes the regulation en-forcement a uniquely individual case-based task. |
Pages/Duration: | 10 pages |
URI: | http://hdl.handle.net/10125/63957 |
ISBN: | 978-0-9981331-3-3 |
DOI: | 10.24251/HICSS.2020.218 |
Rights: | Attribution-NonCommercial-NoDerivatives 4.0 International https://creativecommons.org/licenses/by-nc-nd/4.0/ |
Appears in Collections: |
Blockchain, DLT, Tokenization, and Digital Government |
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