Research on Legal Regulations of Blockchain

Abstract

Blockchain is a chained data structure that combines data blocks in sequence in chronological order. It has the advantages of decentralization, immutability, distribution and transparency. Blockchain is mainly used in economy and finance, judicial practice, social governance, public welfare and charity, and other fields in China. As a new technology, the risks and challenges brought by blockchain include but are not limited to: algorithm security, convenience for crime, difficulty in determining jurisdiction, and inability to guarantee the right to be forgotten. To prevent blockchain risks requires to establish scientific algorithm rules, improve blockchain legislation, innovate regulatory measures, and establish a blockchain global governance system.