Why the Law Needs to Encompass Token

Academic Paper from the year 2021 in the subject Law - Miscellaneous, grade: 1,0, University of Bologna, language: English, abstract: This paper examines the question of whether and why distributed ledger token should be legally encompassed. To ensure a fundamental understanding, it first describes the basic features of the distributed ledger technology and the main characteristics of token. This is followed by a look at the function of law in general as well as with regard to property and technology in particular. From these considerations, the necessity of recognizing token as legal goods is derived, coming to the concluding section where it will be addressed whether property law can be used to encompass token. Though not evaluating any specific application of norms, the paper argues for a corresponding openness in legal interpretation, especially when it comes to disruptive technologies.