Blockchains, Smart Contracts, Decentralised Autonomous Organisations and the Law
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Blockchains, Smart Contracts, Decentralised Autonomous Organisations and the Law

Edited by Daniel Kraus, Thierry Obrist and Olivier Hari

The growth of Blockchain technology presents a number of legal questions for lawyers, regulators and industry participants alike. Primarily, regulators must allow Blockchain technology to develop whilst also ensuring it is not being abused. This book addresses the challenges posed by various applications of Blockchain technology, such as cryptocurrencies, smart contracts and initial coin offerings, across different fields of law. Contributors explore whether the problems posed by Blockchain and its applications can be addressed within the present legal system or whether significant rethinking is required.
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Chapter 3: Aspects of private international law related to blockchain transactions

Florence Guillaume

Abstract

Blockchain transactions are international by nature: each transaction can lead to a potential conflict between the laws of different States. The lack of uniform private law rules adopted at the international level makes it necessary to apply private international law rules to blockchain transactions in order to identify the situations in which a State offers the protection of its courts (jurisdiction), which law is applicable to the transactions (choice of law), and which conditions must be met for the judgment to have legal effect abroad (recognition and enforcement of foreign judgments). These three issues will be examined to determine whether existing conflict-of-law rules offer satisfying solutions for blockchain transactions. Proposals of necessary adaptations to improve legal security in the digital economy will then be made.

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