Blockchain Technology
/ˈblɒktʃeɪn tɛkˈnɒlədʒi/
Definitions
- (n.) A decentralized digital ledger system that records transactions across multiple computers, ensuring immutability and transparency.
Blockchain technology is increasingly used to secure smart contracts in legal agreements.
- (n.) The underlying technology that enables cryptocurrencies to operate securely and transparently.
Regulators are examining how blockchain technology impacts financial compliance.
Forms
- blockchain technology
Related terms
See also
Commentary
In legal drafting, precise definition of blockchain technology is crucial to address issues of jurisdiction, data ownership, and regulatory compliance.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.