Blockchain and Smart Contracts: Legal Issues and Regulatory Responses Between Public and Private Economic Law

The article investigates some of the most relevant legal issues that emerge in connection with blockchain technology and smart contracts by addressing them from a public policy perspective. In particular, it focuses on some under-investigated problems connected to some possible legal hurdles to their widespread adoption in the legal practice of business at the national and international levels. The legal analysis of blockchain and smart contracts is then employed to explore the more general question of how much the law needs to change in order to accommodate new technologies, or how much it is instead preferable to believe that the existing law is already capable of accommodating innovation, however radical it may be.