The Interface of Competition law and blockchain Technology: a global Perspective

• Authors: Deepankar Sharma , Vijaylaxmi Sharma , Amit Yadav , Vini Kewaliya

Abstracts

EN

The rule of law does not govern all human interactions. There are times when the state bypasses legal constraints, as documented by the World Justice Project. Other times, jurisdictions may be mutually unfriendly and refuse to enforce foreign laws. Blockchains create trust between contracting parties at the individual level, enabling them to transact freely and increase consumer welfare. Blockchains can only supple-ment antitrust if the legal constraints do not impede their development. The law should thus support the decentralization of blockchains so that blockchain-based mechanisms may take over (even if imperfectly) where the law does not apply. With that in mind, we justify the attractiveness of that approach by showing that blockchain causes an increase in the number of transactions by creating trust (Part 1), and that it may overall increase the decentralization of economic transactions (Part 2). The law should take into account where it applies (Part 3). We conclude afterward (Part 4).

Keywords

EN

law; enforcement; cross border; blockchain; competition law; technology

• Publisher: Akademia Leona Koźmińskiego
• Journal: Krytyka Prawa. Niezależne studia nad prawem
• Year: 2022
• Volume: 14
• Issue: 1
• Pages: 214-225

Dates

published

2022

Contributors

author

Deepankar Sharma

author

Vijaylaxmi Sharma

author

Amit Yadav

author

Vini Kewaliya

Identifiers

DOI

10.7206/kp.2080-1084.516

Biblioteka Nauki

2082795