Legal restriction of blockchain

1.

blockchain is an important concept of bitcoin. It is essentially a disintermediated database. At the same time, as the underlying technology of bitcoin, it is a series of data blocks generated by using cryptographic methods. Each data block contains the information of a bitcoin network transaction, which is used to verify the effectiveness of its information (anti-counterfeiting) and generate the next block

blockchain is a new application mode of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies

in a narrow sense, blockchain is a kind of chain data structure that combines data blocks in a sequential way according to the time sequence, and it can not be tampered with and forged by cryptography

broadly speaking, blockchain technology uses blockchain data structure to verify and store data, uses distributed node consensus algorithm to generate and update data, and uses cryptography to ensure the security of data transmission and access It is a new distributed infrastructure and computing method to program and operate data by using intelligent contract composed of automated script code

extended data:

the evolution mode of blockchain is as follows:

& 9642; Blockchain 1.0 - digital currency

▪ Blockchain 2.0 - digital assets and smart contracts

▪ Blockchain 3.0 - Implementation of distributed applications in various instries

blockchain features:

1. Disintermediation. Due to the use of Distributed Accounting and storage, there is no centralized hardware or management organization in the system, the rights and obligations of any node are equal, and the data blocks in the system are jointly maintained by the nodes with maintenance function in the whole system

2. Openness. The system is open. In addition to the private information of all parties to the transaction is encrypted, the data of the blockchain is open to all. Anyone can query the blockchain data and develop related applications through the open interface, so the information of the whole system is highly transparent

3. Autonomy. Blockchain adopts consensus based specifications and Protocols (such as a set of open and transparent algorithms) to enable all nodes in the whole system to exchange data freely and safely in a de trusted environment, so that the trust in "people" is changed into the trust in machines, and any human intervention does not work

The information can not be tampered with. Once the information is verified and added to the blockchain, it will be stored permanently. Unless more than 51% of the nodes in the system can be controlled at the same time, the modification of the database on a single node is invalid. Therefore, the data stability and reliability of the blockchain are extremely high

5. Anonymity. Because the exchange between nodes follows a fixed algorithm, the data interaction does not need to be trusted (the program rules in the blockchain will judge whether the activity is effective). Therefore, the counterparties do not need to make the other party trust themselves by disclosing their identities, which is very helpful for the accumulation of credit

2.

Blockchain is a term in the field of information technology. In essence, it is a shared database. The data or information stored in it is characterized by "unforgeability", "trace in the whole process", "traceability", "openness and transparency" and "collective maintenance". Based on these characteristics, blockchain technology has laid a solid "trust" foundation, created a reliable "cooperation" mechanism, and has broad application prospects

on January 10, 2019, the state Internet Information Office issued the regulations on the management of blockchain information services. In October 24, 2019, ring the eighteenth collective learning of the Central Political Bureau, general secretary Xi Jinping stressed that "block chain as an important breakthrough in core technology and independent innovation", "accelerating the development of block chain technology and instrial innovation". "Blockchain" has entered the public field of vision and become the focus of social attention

extended data:

related extension: blockchain financial application:

since 2016, the major financial giants have also carried out blockchain innovation projects to explore the possibility of applying blockchain technology in various financial scenarios. In particular, Puyin group took the lead in creating a "blockchain +" standard digital currency

standard digital currency refers to the process of assets identification, evaluation, right confirmation and insurance completed by a third party organization, which is written into the blockchain through careful digital algorithm to form the standard corresponding relationship between assets and digital currency, which is called standard digital currency

in order to realize the great leap forward development of blockchain finance, promote the new development of China's economy, accelerate the circulation of global assets, and realize the dream of rejuvenation that has been struggling for generations, Puyin group will hold the Guiyang strategic development ceremony of Puyin blockchain finance in Guizhou on December 9, 2016

the meeting will discuss the realization of digital circulation of assets by blockchain, the financial transaction mode of blockchain, and the application of blockchain services and social public instry. This conference will mark the beginning of the application of blockchain finance and the change and development of the new financial ecology

on June 1, 2020, Xinhua news agency was authorized to broadcast the "overall plan for the construction of Hainan free trade port" issued by the CPC Central Committee and the State Council, which will "actively participate in the formulation of international rules for cross-border data flow, and establish standards and rules for data rights confirmation, data trading, data security and blockchain finance" as one of the key tasks of Hainan free trade port before 2035

3. The subversive characteristics of blockchain lie in the following four aspects: first, transparency. The data record of the blockchain system is transparent to the nodes of the whole network, and the update operation of the data record is also transparent to the nodes of the whole network, which is the basis of the trustworthiness of the blockchain system. Because the blockchain system uses open source programs, open rules and high participation, the data records and operation rules of the blockchain can be reviewed and traced by the nodes of the whole network, with high transparency< Second, openness. The blockchain system is open. In addition to the fact that the private information of the parties directly related to the data is always encrypted, the data of the blockchain is open to all (except the blockchain system with special permission requirements). Anyone or participating nodes can query blockchain data records or develop related applications through the open interface, so the information of the whole system is highly transparent< Third, information can not be tampered with. Once the information of the blockchain system is verified and added to the blockchain, it will be permanently stored and cannot be changed (except for private blockchain systems with special change requirements). Unless more than 51% of the nodes in the system can be controlled at the same time, the modification of the database on a single node is invalid, so the data stability and reliability of the blockchain are extremely high
Fourth, decentralization. Decentralization is the most basic feature of the blockchain, which means that the blockchain no longer depends on the central processing node and realizes the distributed recording, storage and updating of data. In the traditional centralized network, attacking a central node can destroy the whole system, while in a decentralized blockchain network, attacking a single node cannot control or destroy the whole network. More than 5% of the nodes in the master network are just the beginning of gaining control. 2019 is the first year for the commercial application of blockchain technology, and the stimulation of favorable policies will make the development of blockchain technology more stable
with the application of blockchain technology graally penetrating into many fields such as digital finance and Internet, we have a clearer understanding of the value of blockchain
blockchain has formed a situation of global competition, and all countries are seizing the development opportunities, let alone China; Therefore, there is no doubt that blockchain has become a national strategy.

4. Domestic blockchain projects are still relatively conservative. Blockchain projects always involve a derivative instry, that is, digital currency transactions. If domestic projects are not allowed, what should we do? You can register a non-profit foundation in Singapore and add relevant legal opinions to prove that the project you are doing does not violate the current laws and regulations of Singapore, such as Biyuan chain and Leyte coin

after registering the main body of the foundation, we still need to do later legal compliance, the main purpose is to draw a clear line between law and crime, but I said it doesn't count. Because digital token is indispensable for blockchain. To put it bluntly, digital currency drives the popularization of blockchain in China, but what's the fact? Digital currency is just a small application of blockchain technology

e to the particularity of the instry, At present, there are no formal laws and regulations to restrict its development, involving a wide range of violations:
pyramid selling
illegal fund-raising
money laundering
absorbing public deposits
illegal operation
transnational foreign exchange crimes
providing more convenience for terrorist financing

therefore, different countries in the world have different attitudes towards blockchain, and China is explicitly prohibited, So we all go overseas to develop projects, such as Singapore and Thailand. First, the local laws and regulations are required. Who has the final say in the matter of whether the project is legal? There are two ways: to apply for a formal digital transaction license or to rely on a legal opinion issued by a lawyer. At present, the latter is in the majority, easy to operate and low cost.

5. Brother, you're kidding. How loud is that? Do you know

6. As a mechanism of allocating social resources, law is determined by the objective requirements of social and economic development and directly affects the whole process of economic operation. It can simplify the complexity of social relations, save transaction costs, and help social members conct transactions safely, normatively and orderly
based on the legal framework, the blockchain technology makes the transaction information more secure and transparent, and the data more traceable through the pre-set automatic execution of intelligent contracts, which greatly reces the cost of law enforcement, presents the situation that the law and technology complement each other, and the law and economy are integrated, which makes the legal constraints and enforcement graally move towards intelligence
what is blockchain
blockchain is an innovative application mode of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies in the Internet era
blockchain is essentially a decentralized distributed ledger database. It is a series of data blocks associated with cryptography. Each data block contains the information of effective confirmation of multiple bitcoin network transactions, which is used to verify the validity of the information (anti-counterfeiting) and generate the next block
foreign legal regulations on blockchain
as the blockchain technology itself is still in the exploration stage and has not been applied on a large scale, only some countries have enacted special legislation on blockchain technology< In the United States, Vermont and Arizona have passed bills to clearly define and support blockchain technology for public use. The bill stipulates the use specifications of blockchain and smart contract, and states that all data related to blockchain are "considered as electronic format and become electronic records", which is recognized by the state
UK
distributed ledger Technology: beyond blockchain mentions that the UK federal government will invest in blockchain technology to analyze the potential of blockchain application in traditional financial instry
Singapore
the government supports financial technology enterprises such as blockchain technology, and has launched a regulatory sandbox to provide a more tolerant development environment for blockchain start-ups
China's legal regulation on blockchain
in addition to the above-mentioned policies on blockchain itself, a series of regulatory provisions have been issued internationally for virtual currencies such as bitcoin
in our country, in addition to the policies on the transaction and financing of bitcoin and other virtual currencies, the government has also issued many policy regulations on blockchain
on December 27, 2016, blockchain technology was listed in the notice of the State Council on printing and distributing the 13th five year plan for national informatization. At the same time, the State Council also issued a document "China's blockchain instry is expected to walk in the forefront of the world" to support the healthy development of blockchain
it is mentioned in the guidance of the general office of the State Council on actively promoting the innovation and application of supply chain that we should study and use emerging technologies such as blockchain and artificial intelligence to establish a credit evaluation mechanism based on supply chain. Promote the organic docking of various supply chain platforms, and strengthen the disclosure and sharing of credit rating, credit record, risk warning, illegal and dishonest behavior and other information< In the eyes of lawyers, the legal risks of blockchain technology
as a distributed system, blockchain is an innovative application in the field of technology. According to the current exploration results, its technical concept can bring great changes to the development of various instries
however, as the law has not yet issued clear instry standards and applicable norms for blockchain, there are still problems such as national supervision and legal regulation in the future
taking bitcoin as a typical digital currency as an example, the first problem we face is supervision. Bitcoin and other digital currencies based on blockchain technology are logically decentralized and opposed to centralized supervision
secondly, the application of blockchain technology has to face huge risks. Taking bitcoin as an example, loss, theft, attack, speculation, money laundering and all kinds of disturbances, doubts and events have been accompanied by the development of bitcoin
the wide application of blockchain technology is inseparable from smart contract, which defines commitment in the form of digital coding. The two sides of the transaction do not need to trust each other, all transactions are enforced by the code
however, the validity of the form and content of smart contract has not been formally recognized by the law and the judiciary. As the contract text in the form of digital coding, it is not clear whether it can constitute the elements of an effective contract and whether it can meet the authenticity, legality and validity of the evidence to be accepted by the judiciary
e to the decentralized nature of blockchain technology, its own rules are bound to conflict and contradict with social rules and national legal rules. It is precisely conflicts and contradictions, risks and problems that can stimulate motivation and imagination, including that of society, the state and indivials
in the process of transaction, virtual currency based on the application of blockchain technology has posed great challenges to the legal tender and financial system of various countries, and caused investment risks and even social problems.

7.

At the bottom right of the front page of the post bar you want to apply for, there is a position of "information of this bar". There will be a text link of "apply for a small bar owner", as shown in the figure. Click:

this small bar owner's application requirements. Different post bar requirements are different, so it depends on what kind of post bar requirements you apply for

8.

Blockchain technology is a modern information technology. To use this technology for governance, we must adhere to the unity of the party's leadership, the people's ownership and the rule of law, and adhere to the people-centered idea

the government must adhere to the principle of administration according to law, use power prudently, perform legal ties, and do nothing without legal authorization

The organs of state power should legislate according to law, provide legal protection and strengthen supervision

other state organs should perform their ties according to law and pay attention to information security

9. Regulation protects the blockchain to some extent, but it can also destroy it
in order to integrate the business of blockchain for wider application, transactions on blockchain need to be regarded as legally binding and acceptable within the current compliance requirements
this should include review record rules, or at least ensure that the new regulatory rules will not hinder the organization from concting transactions on the blockchain
at the very least, the rules and regulations should allow them to experiment with the technology and demonstrate new functions - to know where they can lead
you can see examples of "sandboxes" created for innovation in many different areas For example, decent, a foreign content publishing platform developed by using blockchain technology, allows anyone to publish information without any restrictions. However, it is basically not feasible in China. There is an audit mechanism in China.