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

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.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 4: When disruptive meets streamline: international standardization in blockchain

Panagiotis Delimatsis


The emergence of blockchain may transform the way we work, operate and interact. Through the use of distributed ledger technology, blockchain challenges the fundamental of any business model built around middlemen and centralization, while ensuring anonymity, market confidence and trust. Depending on the manner they are structured, blockchains have the advantage of lowering entry barriers; transaction costs and information asymmetries. While the jury is not out yet as to the really disruptive features of the new technology, it is quite clear that blockchain has the traits necessary to alter the way sectors such as health, business and financial services or government services operate. For that to occur, a common vernacular would need to be created. Standardization can successfully offer such vernacular, which could constitute the foundations for enhancing market confidence around the new technology. Against this background, this chapter offers an analysis of recent developments on standardizing blockchain at the international level. More specifically, it discusses the focus areas on which international standardization within the International Organization for Standardization (ISO) can be meaningful and indeed crucial if this technology is to benefit from rapid expansion. These notably include security, privacy and overall resilience.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information

or login to access all content.