Liability Issues of Public Decentralized Platforms Based on Blockchain Technology: Administrative Law Aspect

Background and aim of study:

The interaction of technological progress and social phenomena is one of the main factors in the development of mankind. This paper focuses on one of such technologies that impacts the world not only technically, but also socially. Particularly, the article is dedicated to the question of possible legal issues that may appear within the use of public decentralised blockchain-based platforms, namely the liability which arises from functioning of such platforms within administrative law.

Research methods:

In order to carry out this study, such methods were used: dialectical, systematic, historical and logical. As for specific legal research methods, it can be mentioned mainly the formal legal and comparative legal methods.

Results:

Current development of blockchain technology operations and risks connected with its implementation were studied. It is established, that although the value aspect of blockchain technology is well researched, the role of blockchain technology as a new instrument of influencing the balance of existing social and individual values is still not fully understood. The basic concepts of liability of public decentralised platforms which are based on blockchain technology was explored. It was done within the administrative law context and explained why exactly administrative liability is the most applicable.

Conclusion:

Therefore, a well-structured list of main liability-related issues regarding public decentralised platforms based on blockchain technology was established.

Keywords:

blockchain, liability, administrative law regulation, public decentralised platforms

Copyright:

© 2021 Lysenko D. A.

DOI and UDC:

DOI: https://doi.org/10.26697/ijes.2021.3.7 JEL: K10, K24, M15, O38 UDC: 34.03:342.951:351.82