The Linkage Between Blockchain and the Regulatory Function of Governments

Abstract

The study mainly aims to understand the linkage between “blockchain” and “the regulatory function of governments”. The research questions are 1) How can be identified the blockchain as a concept and assessed the regulatory function of governments with the trust/compliance relationship? and 2) What extend the blockchain has affected the regulatory function of government, and how can be unveiled the relevance between the blockchain and the regulatory function of governments? In methodology, it is a theoretical and exploratory study. This study has constructed in three sections. In the first section, the conceptual aspects of blockchain have assessed. The second section is about the regulatory function of governments in the trust. The studies on “regulatory state” and “state-citizen relationship” have respectively scanned, and the virtues and drawbacks of blockchain have combined in terms of “trustless, privacy sensible organizational, public efficiency social impact.” Discussion and conclusion sections, the linkage between the blockchain and the regulatory function of the State is evaluated.