February 14, 2018

Blockchain Law Epicentre

BLOCKCHAIN LAW EPICENTRE

Blockchain is a new paradigm of technological development.

As per Investopedia, a Blockchain is a digitized, decentralized, public ledger of all cryptocurrency transactions. Constantly growing as ‘completed’ blocks (the most recent transactions) are recorded and added to it in chronological order, it allows market participants to keep track of digital currency transactions without central record keeping. Each node (a computer connected to the network) gets a copy of the Blockchain, which is downloaded automatically.[1]

Gartner has described Blockchain as a type of distributed ledger in which value exchange transactions (in bitcoin or other token) are sequentially grouped into blocks. Each block is chained to the previous block and immutably recorded across a peer-to-peer network, using cryptographic trust and assurance mechanisms. Depending on the implementation, transactions can include programmable behavior.[2]

Blockchain is expected to be a game changer and would completely change various spheres of human activities. Blockchain is increasingly being used in a variety of applications in different sectors of the economy and society.

No wonder, it is predicted that The Blockchain Revolution Promises to Touch Every Industry.

It has been estimated that the global Blockchain market is expected to be worth $20 billion by 2024.The reported potential annual savings for banks utilizing Blockchain technology is $ 8-12 billion.[3]

The legalities of Blockchain are increasingly becoming important . That is the reason why Blockchain Law as a new discipline is beginning to emerge.

According to Pavan Duggal, internationally acclaimed authority and expert on Cyberlaw and Cyber Security Law, who is doing pioneering work in the area of Blockchain legal issues, Blockchain Law refers to the study of law, which examines the complicated legal, policy and regulatory issues concerning the digitized, decentralized, distributed public ledgers or blocks and the data and information stored thereon as well as their interplay with human and automated activities and conduct.

His two seminal books, “Blockchain Law- A Primer[4]”  and ” Blockchain Contracts and Cyberlaw[5]” elaborate the basic principles of law, on which the discipline of Blockchain Law is likely to develop.

Techradar.com refers to Blockchain Law as the new cutting-edge for digital law.[6]It will be sometime before  Blockchain Law completely crystallizes as a mature legal discipline.

 OBJECTIVES

Blockchain law Epicentre seeks to be the nerve centre of all evolving jurisprudence concerning Blockchain technology. It has the following objectives:-

  1. To contribute to the evolving jurisprudential growth of Blockchain Law.
  2. To act as a repository of all emerging legal developments concerning Blockchain technology.
  3.  To help collate all legal developments/events/perspectives concerning Blockchain.
  4. To increasingly track various cases and litigations concerning Blockchain technology.
  5. To identify potential trends on which further development of Blockchain Law could evolve in the coming times.
  6. To provide legal consultancy services and support to various stakeholders in the Blockchain ecosystem.
  7. To identify industry thought leaders and influencers, contributing to the evolution of Blockchain Law.
  8. To provide a platform for the publication, dissemination and transmission of case materials concerning Blockchain Law.
  9. To assist countries in terms of giving advice on, drafting and creation of enabling legal frameworks encouraging the further adoption and growth of Blockchain ecosystem.
  10. To contribute to evolving legal standards governing Blockchain.
  11. To coordinate and cooperate with various international stakeholders on the legalities concerning Blockchain.
  12. To provide a network for all legal professionals working in the area of Blockchain Law.

ACTIVITIES

Blockchain Law Epicentre would aim to engage in the following kinds of activities:-

  1. Organize seminars, conferences, webinars and discussions concerning the evolving jurisprudential growth of Blockchain Law.
  2. Act as a repository of all emerging legal developments concerning Blockchain technology.
  3.  Collation of all legal developments/events/perspectives concerning Blockchain

 4.Track various cases and litigations concerning the Blockchain technology.

  1. Identify potential trends on which further development of Blockchain Law could develop in the coming times.
  2. Provide legal consultancy services and support to various stakeholders in the Blockchain ecosystem.
  3. Identify and network with industry thought leaders and influencers, contributing to the evolution of Blockchain law.
  4. Provide a platform for the publication, dissemination and transmission of case materials concerning Blockchain law.
  5. Provide professional legal services to assist countries in terms of giving advice on, drafting and creation of enabling legal frameworks encouraging the further adoption and growth of Blockchain ecosystem.

10.Contribute, through various activities, to evolving legal standards governing Blockchain, by organizing various related activities.

  1. Network, coordinate and cooperate with various international stakeholders on the legalities concerning Blockchain.
  2. Provide a network for all legal professionals working in the area of Blockchain Law.

BLOCKCHAIN LAW EPICENTRE HEADED BY CHIEF MENTOR AND INTERNATIONALLY ACCLAIMED AUTHORITY ON BLOCKCHAIN LAW PAVAN DUGGAL

Blockchain Law Epicentre is being headed/mentored by its Chief Mentor Mr. Pavan Duggal internationally renowned expert and authority of Cyberlaw, Cybersecurity Law, who is also doing pioneering work in the area of Blockchain Law. Huffpost references Pavan Duggal as having been acknowledged as one of the top Four Lawyers in the cyber world. His work in Blockchain Law is manifested in his books on Blockchain legalities being “Blockchain Law- A Primer”[7]  and “Blockchain Contracts and Cyberlaw”[8]. He has addressed various international conferences and seminars on Blockchain legalities.

[1] https://www.investopedia.com/terms/b/blockchain.asp

[2] https://www.gartner.com/it-glossary/blockchain

[3] https://expandedramblings.com/index.php/blockchain-statistics/

[4] https://www.amazon.in/BLOCKCHAIN-LAW-PRIMER-PAVAN-DUGGAL-ebook/dp/B078P3G224

[5] https://www.amazon.in/BLOCKCHAIN-CONTRACTS-CYBERLAW-PAVAN-DUGGAL-ebook/dp/B019S2I1CE

[6] http://www.techradar.com/news/7-ways-blockchain-will-change-the-legal-industry-forever

[7] https://www.amazon.in/BLOCKCHAIN-LAW-PRIMER-PAVAN-DUGGAL-ebook/dp/B078P3G224

[8] https://www.amazon.in/BLOCKCHAIN-CONTRACTS-CYBERLAW-PAVAN-DUGGAL-ebook/dp/B019S2I1CE