Auszug aus dem Artikel von Josh Stark: "It's rare for any issue in the blockchain industry to escape conversation about legal implications. This past summer, The DAO hack prompted
discussion of the legal responsibilities of blockchain developers, and the differences between code and law. The popularity of token crowd-sales has led many to wonder about
the application of securities laws to blockchain technology. Virtually every blockchain use case involves considering the capabilities and limitations of smart contract code and
smart legal contracts. As such, "law and blockchain" as a subject covers many areas of law. It can be applied to many different industries, and it cuts across many different use cases of the
technology. Yet, it can be hard to see from a high level what these topics have in common, or how they might be organized in relation to one another.
In my view, the questions that make up the study of "law and blockchain" can be usefully divided into two types:
- First, we have questions of application. How does the law apply to blockchain technology? How should it apply? Included in this category are questions such as whether
cryptocurrencies are legal tender, or how to regulate decentralized applications. Here, blockchain technology is a subject of law – something that our laws will have to adapt to, just as they
adapted to the Internet, new medical technology, or social media.
- Second, there are questions of transformation. How will blockchain technology change the legal system? How will it change the legal services industry? In this category you'll find topics
like how smart legal contracts might be used by businesses, or the potential for decentralized applications to offer services to consumers without a legal entity.
In this instance, blockchains are not simply some new technology to which our laws and regulations must adapt. Rather, they are a tool for the law itself – a new technology that could be usefully
applied in legal services. They are part of the more general category of "LegalTech", alongside artificial intelligence and Big Data. Distinguishing between these two
categories helps us view each more clearly. [...]"