Legal Aspects of Using Blockchain Technologies in the Field of E-Commerce on SDG'S

Abstract

Objective: The objective of this study is legal aspects of blockchain. Theoretical Framework: Blockchain is one of the most prominent technologies and it has become a driving factor in business transformation. Method: Methods of historical and logical analysis and comparison, expert opinions, system analysis and forecasting were used. The research materials included legal aspects, in particular, in the development of blockchain technology. Results and Discussion: Blockchain, like any electronic technology, can have different forms of social implementation. Their openness is manifested in the fact that anyone can become a network node participating in the consensus procedure. Information in public blockchains is actually and legally publicly available. The listed qualities ensure a high level of security of public blockchains and a high level of users’ trust toward them. Research Implications: The legal regulation of digital technologies is becoming an important tool for ensuring a balance between public and private interests, benefits and risks of the digital age. Originality/Value: The global blockchain market will grow significantly in the coming years. The new vector of blockchain technology will be aimed at accelerating the pace of digitalization, financial inclusion and enhancing security. There is no doubt that blockchain is a disruptive technology and will continue to dominate the business world in the coming years.