Affiliation:
1. International public law and dispute resolution , Max Planck Institute Luxembourg for International European and Regulatory Procedural Law , 4 rue Alphonse Weicker , Luxembourg 2721 , Luxembourg
Abstract
Abstract
Whether it is legally treated as a digital property, a commodity or a security, bitcoin’s identity crisis is mainly caused by its contradictions as a trustless monetary project. The paper argues that bitcoin’s trustlessness is a confusing concept that accounts for its legal and monetary troubles. As explicated by monetary sociologists and economists, money is based on a complex trust architecture. By questioning the interplay between code, trust and law in the monetary realm, the paper aims to enlighten the philosophy of bitcoin’s monetary project, the current trends, and some potential developments for bitcoin and distributed ledger technologies.
Subject
Law,Political Science and International Relations
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