Interaction Between Blockchain and the Rule of Law
摘要
In this chapter, the friction or harmony between blockchain and the rule of law will be discussed: what are the critical points of friction or harmony that arise during the interaction between the blockchain (lex cryptographica) and the rule of law? Here, various aspects of code in public and private regulatory frameworks are examined, followed by the assessment of the intersection between the rule of code and the rule of law, where the focus is on the normative influence of the rule of code and its effects on the law. Classifying blockchain applications into three categories—a tool for law avoidance, a tool acting complementary to law, and a tool for the purpose of friction alleviation—reveals the constant battle of supremacy between code and law. This analysis will facilitate in recognizing the ex-post situations that may originate due to the political, economic, and social contacts between each other and help determine what is or what is not acceptable under the rule of law environment and what modifications or recommendations can be made in respect of a blockchain application either at the micro level or macro level to focus on fulfilling and fostering of the rule of law standards and values.