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First, let’s understand meaning of Blockchain. Basically Blockchain means distributed ledger. The ledger contains a continuous and complete record (the chain) of all transactions performed which are grouped into blocks: a block is only added to the chain if the nodes, which are members in the blockchain network with high level computing capacity.

Blockchains have legal issues associated with them too such as:-

  1. As the nodes can be placed anywhere in the world, it can cross the boundaries of jurisdiction.
  2. Risk to customers of trading in case of accounts settled or not correctly settled.
  3. Ownership of Intellectual Property
  4. Data privacy of end users.
  5. Working with Decentralised autonomous organisations.
  6. Enforcement of Smart Contracts
Blockchainl Legal