In this Hogan Lovells video, Counsel Susan McKiernan looks at the challenges that one of the core strengths of blockchain throws up – namely that no single party has control over the system.
More specifically, she discusses:
- The challenges involved in trying to implement decentralisation
- The fact that in decentralised and shared systems there may not be one party that has control
- Some of the issues that arise, eg operational issues, security breaches, liability, what legal questions arise if blockchain users are across multiple jurisdictions
- Can some level of governance be built into the blockchain and, if so, what are they?
- What about the levels of governance that sit outside the technology?
- What kind of governance frameworks could be available
- How robust governance arrangements will have a key role in giving legal certainty to users of blockchain and build the trust necessary to market adoption
Click here to watch the video.
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