International Law and Blockchain Governance: Supplements or Competitors

Abstract

Blockchain’s usage is increasing, and the number of possible implications that have been explored and created is mind-boggling. This paper would look at some other potential blockchain implementations in the legal sector, especially in the sense of social regulation. The blockchain-based social controller, which is neither created nor supported by sovereign foundations, has the potential to transform the planet or its components into something known as a Decentralized Autonomous Organization (DAO). These assumptions are most likely too broad. The presented research focuses on a key and practical overview of regulations in a blockchain DAO that could be framed in the future and has the potential to affect current legal essentials. The study applies comparative method, using international public law and Lex Mercatoria as primary juxtaposition.

Keywords

• international law
• blockchain governance
• consensus mechanism

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