Crypto-assets: Regulating the "dark side" of financial blockchain

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Abstract

The use of financial blockchain and decentralised ledgers system has many benefits. These include immutability, efficiency and security. Digital financial information can be securely stored on a network of computational devices, with changes to those records being reflected simultaneously across that network, but there is also a dark side. Public blockchains, although visible, are typically anonymous and this presents its own challenges. The source and destination of digital asset transfer can be misleading and masked, sometimes resulting in money laundering. Tax can be evaded and the proceeds of trade transactions difficult to audit. There are other concerns that need to be addressed as the increasing scale and sophistication of blockchain transactions grows. The digital wallet trail becomes more opaque with size. These dark traits will need to be properly regulated if the technology is to be used for societal good.
Original languageEnglish
Title of host publicationCrypto-Assets
Subtitle of host publicationInvestoren, Emittenten, Regulatoren/Investors, Issuers, Regulators
Place of PublicationFrankfurt am Main
Publication statusAccepted/In press - 20 May 2018

Keywords

  • blockchain
  • finance

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    Daniel Broby

    Person: Knowledge Exchange Only, Doctor of Philosophy

    Cite this

    Broby, D. (Accepted/In press). Crypto-assets: Regulating the "dark side" of financial blockchain . In Crypto-Assets: Investoren, Emittenten, Regulatoren/Investors, Issuers, Regulators