2019
DOI: 10.1017/err.2019.39
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How to Make Sure My Cryptokitties Are Here Forever? The Complementary Roles of Blockchain and the Law to Bring Trust

Abstract: Under the phrase “code is law” and based on its “trustless trust”, blockchain has emerged as a disrupting technology considered by some as an alternative to the law. Based on a study of real-life blockchain-based decentralised applications (Dapps), this article takes blockchain developers at their word and adopts the point of view of users: can blockchain live up to its promise and enable them to transact with each other without the need for the trust granted by the law? The article particularly highlights tha… Show more

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Cited by 16 publications
(11 citation statements)
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“…nodes) who have their own, immutable version of the ledger (GOScience, 2016). The network of participants performs and supports transactional activities through the computationally achieved consensus mechanism and replaces the intermediaries traditionally needed to instill trust among trading partners (Ducuing, 2019), forming the foundation of trust-free economic transactions (Risius & Spohrer, 2017). With blockchain technology, actors do not need to trust their human counterparts or institutions, but rather they need to trust the technology itself (Finck, 2018).…”
Section: Blockchain Technology As a Solution To Trust Issues In Trade...mentioning
confidence: 99%
See 1 more Smart Citation
“…nodes) who have their own, immutable version of the ledger (GOScience, 2016). The network of participants performs and supports transactional activities through the computationally achieved consensus mechanism and replaces the intermediaries traditionally needed to instill trust among trading partners (Ducuing, 2019), forming the foundation of trust-free economic transactions (Risius & Spohrer, 2017). With blockchain technology, actors do not need to trust their human counterparts or institutions, but rather they need to trust the technology itself (Finck, 2018).…”
Section: Blockchain Technology As a Solution To Trust Issues In Trade...mentioning
confidence: 99%
“…With blockchain technology, actors do not need to trust their human counterparts or institutions, but rather they need to trust the technology itself (Finck, 2018). Such characteristics of blockchain technology have been known as "trustless trust" or "trustby-computation" which are capable of revolutionizing economic transactions that have traditionally hinged on mutual trust among human agents (Ducuing, 2019).…”
Section: Blockchain Technology As a Solution To Trust Issues In Trade...mentioning
confidence: 99%
“…Although the platform did not use actual genome data, each CryptoKitty, to a certain extent, had its own "virtual" genome, making each virtual cat unique and having its own set of traits and attributes that determine its appearance and abilities. CryptoKitties retained its unreached levels of identity and personalization [69]. But perhaps a more universal use-case of utilizing a genome-based code is enhanced authentication and identity on Blockchain [70].…”
Section: Discussionmentioning
confidence: 99%
“…Moreover, the smart contract is pieces of code running on the blockchain that can be automatically executed without intervention, mainly to implement algorithms and custom logic. The application layer encapsules various application scenarios and cases of blockchain, such as Cryptokitties [ 18 ] and DApp, and the future programmable society will also be built on the application layer.…”
Section: Background Knowledge Of Smart Contract Applicationmentioning
confidence: 99%