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Cited by 42Blockchain Technology Applications and SecurityDigital Transformation in LawDigitalization, Law, and Regulation

Blockchain and associated legal issues for emerging markets

Open access
Salmon, John, Myers, Gordon·2019·International Finance Corporation, Washington, DC eBooks
DOI 10.1596/31202
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Abstract

Blockchain, or distributed ledger technology (DLT), is a tamper-evident and tamper-resistant digital ledger implemented in a distributed fashion.1 This emerging technology, which enables direct transactions within a ledger without need for a central authority or trusted intermediary, has the potential to re-engineer economic models and enable the creation of markets and products previously unavailable or unprofitable across emerging markets. However, in considering the potential benefits of blockchain, organizations must also consider the associated risks and how they can be managed. These risks include jurisdictional challenges, crypto assets, privacy and data protection, double spending, and distributed denial-of-service (DDoS) attacks. Several risks have been identified and overcome at similar innovative leaps in the recent past, including the commercialization of the Internet and cloud computing. It is essential that enterprises understand all risks inherent in blockchain systems, including being able to clearly identify who is accountable and legally responsible.

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Authors
Salmon, J., & Myers, G.
Venue
International Finance Corporation, Washington, DC eBooks
Publisher
International Finance Corporation, Washington, DC
Published
2019-01
DOI
10.1596/31202
OpenAlex
W2909592523
Cited by
42
References
0
Citations by year
2026: 2 · 2025: 3 · 2024: 6 · 2023: 7 · 2022: 2 · 2021: 20 · 2020: 1 · 2019: 1
FWCI
7.32
Type
book
Language
en
Open access
Licence
cc-by-nc-nd
Locations
  • International Finance Corporation, Washington, DC eBooks (publishedVersion, cc-by-nc-nd)
  • RePEc: Research Papers in Economics (submittedVersion)
  • The World Bank Open Knowledge Repository (World Bank) (submittedVersion, cc-by-nc-nd)
Topics
  • Physical Sciences › Computer Science › Information Systems › Blockchain Technology Applications and Security
  • Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Digital Transformation in Law
  • Social Sciences › Law › Digitalization, Law, and Regulation
Keywords
blockchain, distributed ledger technology, legal issues, emerging markets, jurisdictional issues, crypto-assets, privacy and data protection, double spending, DDoS attacks, risk management, legal accountability, decentralization (distributed systems)

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