Control Over Blockchain Network

Abstract

One of the key problems of blockchain technology is lack of control of users, organized societies, and state authorities over the transactions and asset on the decentralized network.

The distributed ledger and blockchain are interesting as an example of new technology, which is the rule not only for users but also for governments. Technology-driven rules can be viewed as a technological law for blockchain users and legislative authorities. No legal regulation can change the anonymity or immutability of blockchain. Only another technology could turn the situation around. This is a lesson for every lawyer to learn not only the law but the scope of technology.

The purpose of the article is an analysis of modern determinants of control distribution over assets, transactions, and decentralized organizations on blockchain distributed network.

The article shows how control appears in a variety of different situations on blockchain network. Examples range from the individual and organizational control to control over the networking system discussing the possibilities of the participants to exercise control.

On the base of the legal cases, the ability of controlling shareholder, directors, managers, governments, stakeholders and users of crypto-communities to control the organization, transactions and assets are discussed.

Keywords: control, blockchain, decentralized organization, virtual organization