LEGAL AND SOCIAL IMPLICATIONS OF BLOCKCHAIN TECHNOLOGY: A CASE STUDY APPROACH

Blockchain technology, which was initially conceived of as the underlying architecture for crypto currencies, has expanded into a disruptive force that has significant ramifications across a range of sectors. Bitcoin, Ethereum, and Litecoin are all examples of cryptocurrencies. This case study uses an extensive analysis of actual scenarios from the real world in order to elucidate the legal and social consequences of block chain technology. The objective of this inquiry is to reveal the ramifications of the technology. The research analyses the legal repercussions, looking into topics such as the handling of concerns over data privacy, the interpretation of the shifting regulatory landscape, and the evaluation of whether or not smart contracts can be enforced. The project analyses the ways in which block chain technology promotes financial inclusion, enhances the transparency of supply chain operations, and puts pressure on traditional power structures through decentralization. These are all social concerns that are being investigated. However, despite the fact that there is the potential for change, there are still challenges in terms of scale, interoperability, and regulatory clarity. In conclusion, the conclusion emphasizes the necessity of adopting a flexible strategy and working together in order to fully exploit the promise of block chain technology while also navigating the complex interaction that exists between technological frameworks, legal frameworks, and societal structures. This is done in order to fully exploit the potential of the technology.

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Keywords: Legal, Social, Block Chain.


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