Skip to content
Open access

Trust, but Verify: Why the Blockchain Needs the Law

2018 · Berkeley Technology Law Journal · Vol 33, pp. 487 · 0 citations

Abstract

The blockchain could be the most consequential development in information technology since the Internet. Created to support the Bitcoin digital currency, the blockchain is actually something deeper: a novel solution to the age-old human problem of trust. Its potential is extraordinary. Yet, this approach may not promote trust at all without effective governance. Wholly divorced from legal enforcement, blockchain-based systems may be counterproductive or even dangerous. And they are less insulated from the law’s reach than it seems. The central question is not how to regulate blockchains but how blockchains regulate. They may supplement, complement, or substitute for legal enforcement. Excessive or premature application of rigid legal obligations will stymie innovation and forego opportunities to leverage technology to achieve public policy objectives. Blockchain developers and legal institutions can work together. Each must recognize the unique affordances of the other system.

Read PDF

Similar papers

Open access Aug 2026

Beyond Verification: How Blockchain Technology Challenges the Future Role of External Auditors

It is argued that blockchain automates a narrow and historically labor-intensive slice of the audit, namely the verification of the existence, occurrence, and mathematical accuracy of recorded transactions, while leaving untouched the components of assurance that depend on professional judgment.

Gaduga Godwin · 0 citations
Open access 2026

Blockchain in Banking

Traditionally, banks have maintained separate databases and exchanged messages to reconcile their records. Blockchain technology offers a different form of recordkeeping: a shared ledger whose approved entries are synchronized across authorized participants and protected by cryptographic controls. It offers banking a n...

Matthew N. O. Sadiku, David Padi, Janet O. Sadiku · 0 citations
#explainable ai Open access Sep 2026

The Trust Paradox in AI–Blockchain Systems: Exploring Transparency, Immutability, and Human Trust

The study argues that trustworthy AI–Blockchain systems require more than technological guarantees: they require understandable explanations, appropriate human oversight, data governance, accountability mechanisms, and context-sensitive transparency.

Akash Kanhai · 0 citations
Open access Sep 2026

From Paper to Blockchain: Smart Contracts and the Future of Real Estate Law in Moroccan Legislation

Blockchain technology and self-executing "smart contracts" promise to transform real estate conveyancing by replacing paper deeds, professional intermediaries, and land registration procedures with automated code. Proponents describe this shift through the maxim "Code is Law", suggesting that automated agreements can o...

Chaima Lamrani Alaoui · 0 citations
Book Open access Sep 2026

Blockchain or Not? An Auditable Decision Framework for Organisations

Determining when not to adopt blockchain or distributed ledger technology (DLT) remains difficult, especially in public-sector and social-good initiatives where unjustified experimentation can waste scarce resources, increase compliance burden, and weaken institutional accountability. This paper presents a compact, evi...

Silvio Meneguzzo, Stefano Leto, Noemi Romani et al. · 0 citations

We use cookies to run the site and, with your consent, for analytics and to show ads. See our Cookie Policy.