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| Problems, Schemas and Paths of Blockchain Legal Governance |
| DAI Wen-qi |
| Law School, Shenzhen University, Shenzhen, Guangdong, 518000 |
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Abstract Due to the belief that the decentralization of the blockchain conflicts with the traditional legal governance model, the current legal governance of the blockchain is represented by technological self-discipline instead of law and integration of law into technical governance, both of which ignore the importance of the autonomy of law. The essence of blockchain technology is to establish a centralized data “schedule” in the virtual digital world through distributed ledger that distinguish data into two types: “before ledgering” and “after ledgering”. The legal system is both operationally closed and cognitively open, and its unique function relative to the whole society is to stabilize normative expectations in the time dimension, which echoes the essence of blockchain technology. The complexity of modern society has increased rapidly, and the phenomenon of time acceleration has appeared. The cognitive expectation approach related to technological development cannot replace the important position of the normative expectation approach in the complexity reduction mechanism. On the premise of acknowledging that the scientific system and the legal system are independent of each other, the legal governance of the blockchain is realized by establishing a synchronic structural coupling mechanism between the systems. Whether the data temporality unfolded along the blockchain is reversible and the legal regulation through or oriented to the blockchain can construct the basic schema of the blockchain rule of law. On this basis, the basic approaches of blockchain legal governance are to use blockchain technology to assist the operation of the legal system and to correctly interpret the legal regulations in combination with the principles of blockchain technology.
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Received: 10 March 2023
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2023, Vol. 40 
