{"id":365,"date":"2019-06-04T10:09:35","date_gmt":"2019-06-04T09:09:35","guid":{"rendered":"https:\/\/affidaty.io\/blog\/?p=365"},"modified":"2023-03-20T09:10:28","modified_gmt":"2023-03-20T08:10:28","slug":"blockchain-and-the-thin-line-of-regulation","status":"publish","type":"post","link":"https:\/\/affidaty.io\/blog\/en\/2019\/06\/blockchain-and-the-thin-line-of-regulation\/","title":{"rendered":"Blockchain and the thin line of regulation"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/affidaty.io\/blog\/wp-content\/uploads\/2019\/06\/Articolo-LEGALITA-rid-1.jpg\" alt=\"Blockchain and the thin line of regulation\" class=\"wp-image-371 lazyload\"><noscript><img decoding=\"async\" width=\"600\" height=\"317\" src=\"https:\/\/affidaty.io\/blog\/wp-content\/uploads\/2019\/06\/Articolo-LEGALITA-rid-1.jpg\" alt=\"Blockchain and the thin line of regulation\" class=\"wp-image-371\" srcset=\"https:\/\/affidaty.io\/blog\/wp-content\/uploads\/2019\/06\/Articolo-LEGALITA-rid-1.jpg 600w, https:\/\/affidaty.io\/blog\/wp-content\/uploads\/2019\/06\/Articolo-LEGALITA-rid-1-300x158.jpg 300w, https:\/\/affidaty.io\/blog\/wp-content\/uploads\/2019\/06\/Articolo-LEGALITA-rid-1-768x405.jpg 768w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/noscript><\/figure>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">edited by:<br><b>Dane Marciano, CEO of Affidaty S.p.A<\/b><br><b>Giovanni Capaccioli, R&amp;D of Affidaty S.p.A<\/b><\/p>\n\n\n\n<div style=\"height:52px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Legality<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Often one stops to primary considerations while analyzing the <a href=\"https:\/\/affidaty.io\/blog\/en\/2019\/04\/blockchain-applications-the-future-is-here\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (apre in una nuova scheda)\">blockchain<\/a> to identify eventual assets suitable to his\/her working field. While doing that sometimes it is possible to neglect side details that then manifest themselves as critical areas in a second moment.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For example, the most famous <a href=\"https:\/\/affidaty.io\/blog\/en\/2019\/04\/blockchain-applications-the-future-is-here\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (apre in una nuova scheda)\">blockchains<\/a> rely on <b>automated processes that guarantee both sides in a transaction that can be carried out by smart contracts only in the presence of positive balance<\/b>. It means that to pay inside the public, decentralized and distributed circle <b>one needs a positive balance in his\/her e-Wallet, where cryptocurrency is deposited and used to pay miners.<\/b><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It means that if a company wanted to implement certification through blockchain, <b>it would need a cryptocurrency checking account.&nbsp;<\/b><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So far, this process doesn&#8217;t look problematic. However, the problem exists, since <b>currently there is no legal regulation for a company to have an account in cryptocurrency<\/b>. It\u2019s important that it is not like that all over the world, but it is in most states, except for Switzerland and Malte, to cite two close-by examples.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The <b>legality\/illegality issue<\/b> is sensitive, even more in the case of the introduction of new methods or technologies in a country or a continent. Currently some states, like the abovementioned, already started to fill the legislative holes concerning <a href=\"https:\/\/affidaty.io\/blog\/en\/2019\/04\/blockchain-applications-the-future-is-here\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (apre in una nuova scheda)\">blockchain<\/a> and that&#8217;s why in their territories the illegality issue is limited and easily verifiable.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The situation changes when looking at other states or inside European borders: <b>being a new technology, it moves inside the current gaps in the legislation<\/b>. Moreover, in such cases, the analogy principle is applied, allowing the judge or the court to rule on the case, intervening in a deductive way, relying on a different, but comparable, regulated discipline or deducting from the system general principles.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is how fast the problem evolves changing from a user to a firm point of view. A company finds hard dealing legally with this technology. As a direct consequence, the whole system, as explained and used, is not that simple and risk-free.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This said <b>it doesn&#8217;t mean that <a href=\"https:\/\/affidaty.io\/blog\/en\/2019\/04\/blockchain-applications-the-future-is-here\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (apre in una nuova scheda)\">blockchain<\/a> is incompatible with the enterprise world<\/b>, the concept remains the same: the difference between useful and useless, legal and illegal, performing and underperforming, is due to the technology itself, but how it is applied to the reference ecosystem. It isn&#8217;t possible to judge a fish by how it runs a hundred-meter dash. Every instrument needs to be set as good as possible to fit the environment better.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>edited by:Dane Marciano, CEO of Affidaty S.p.AGiovanni Capaccioli, R&amp;D of Affidaty S.p.A Legality Often one stops to primary considerations while analyzing the blockchain to identify eventual assets suitable to his\/her working field. While doing that sometimes it is possible to neglect side details that then manifest themselves as critical areas in a second moment. For [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":372,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override":[{"single_blog_custom":"","sidebar":"","second_sidebar":"","share_position":"","share_float_style":"","post_date_format":"","post_date_format_custom":"","post_reading_time_wpm":"","zoom_button_out_step":"1","zoom_button_in_step":"1","number_popup_post":"1"}],"image_override":[{"single_post_thumbnail_size":"","single_post_gallery_size":""}],"trending_post_position":"","trending_post_label":"","sponsored_post_label":"","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo":"","sponsored_post_desc":""},"jnews_primary_category":{"id":""},"jnews_social_meta":{"fb_title":"","fb_description":"","fb_image":"","twitter_title":"","twitter_description":"","twitter_image":""},"footnotes":""},"categories":[1487,349,525],"tags":[792,794,170,804,842,183,177,846],"coauthors":[88],"class_list":["post-365","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-educational-ita-en","category-educational-eng","category-real-applications-en","tag-affidaty-en","tag-ai-eng","tag-blockchain-en","tag-crypto-en","tag-legal-value-eng","tag-pos-en","tag-smart-contracts-en","tag-wallet-eng"],"_links":{"self":[{"href":"https:\/\/affidaty.io\/blog\/wp-json\/wp\/v2\/posts\/365","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/affidaty.io\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/affidaty.io\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/affidaty.io\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/affidaty.io\/blog\/wp-json\/wp\/v2\/comments?post=365"}],"version-history":[{"count":0,"href":"https:\/\/affidaty.io\/blog\/wp-json\/wp\/v2\/posts\/365\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/affidaty.io\/blog\/wp-json\/wp\/v2\/media\/372"}],"wp:attachment":[{"href":"https:\/\/affidaty.io\/blog\/wp-json\/wp\/v2\/media?parent=365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/affidaty.io\/blog\/wp-json\/wp\/v2\/categories?post=365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/affidaty.io\/blog\/wp-json\/wp\/v2\/tags?post=365"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/affidaty.io\/blog\/wp-json\/wp\/v2\/coauthors?post=365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}