DLT and law

a necessary relation for legal certainty

Abstract

This paper discusses the relationship that should exist between distributed ledger technology and the law, understood as a legal system. In order to do so, it reviews the revolution that distributed ledger technology implies, as well as those who are interested in regulating it. DLT makes it possible to solve certain transactional problems. However, both the applicable law and the substantive law need to be developed to provide the legal certainty that technology requires. As DLT naturally operates in international contexts, differences and similarities between digital assets traded within DLT and other types of intangible rights, such as personal data, trade secrets or intellectual property, are explored. It also contrasts the regulatory attitude of two blocs, China and the European Union, as well as the role played by U.S. technology giants. Finally, the paper closes with some reflections