- Collection:
- Georgia Law Review
- Title:
- Blockchain Neutrality
- Creator:
- Weinstein, Samuel N.
- Date of Original:
- 2021-01-01
- Subject:
- University of Georgia. School of Law
Law--Study and teaching
Georgia Law Review Association - Location:
- United States, Georgia, Clarke County, Athens, 33.96095, -83.37794
- Medium:
- articles
- Type:
- Text
- Format:
- application/pdf
- Description:
- Blockchain technology is transforming how markets work.
Blockchains eliminate the need for trusted gatekeepers like
banks to execute, verify, and record transactions. In the
financial markets, their disruptive potential threatens both
Wall Street banks and Silicon Valley venture capitalists. How
blockchain technology is regulated will determine whether it
encourages or inhibits competition. Some blockchain
applications present serious fraud and systemic risks,
complicating regulation. This Article explores the antitrust and
competition policy challenges blockchain presents and proposes
a regulatory strategy, modeled on Internet regulation and net
neutrality principles, to unlock blockchain’s competitive
potential. It contends that financial regulators should promote
blockchain competition—and the resulting market
decentralization—except in cases where specific applications
are shown to harm consumers or threaten systemic safety.
Regulators also should ensure open access and non-
discrimination on dominant blockchain networks. This
approach will not only serve traditional antitrust goals of
lowering prices and promoting innovation, but it also might
achieve broader economic and social reform by reducing the
power and influence of the biggest financial institutions.
Blockchain -- Neutrality -- Banking and Finance Law -- Internet Law -- Law - External Identifiers:
- Metadata URL:
- https://digitalcommons.law.uga.edu/glr/vol55/iss2/2
- Holding Institution:
- Alexander Campbell King Law Library
- Rights:
-
