טכנולוגיית הבלוקצ׳יין – לא מה שחשבתם: שיקולים טכנולוגיים ומשפטיים

Blockchain technologies have made headlines with the rise of cryptocurrency. Using this technology, it is possible to produce a distributed, consistent, chronological database (with time signatures), and often without the need for a central body that controls the contents of the database. Despite the common assumption that the blockchain can be a technological solution in many cases, it seems that there is no real technological need to use the blockchain in the vast majority of cases. Modern cryptography offers a variety of mechanisms that can provide similar capabilities, and even efficiencies, to many blockchain networks. Moreover, contrary to the public image, blockchain networks are not immune to problems and failures, and are exposed– in some cases – to manipulations and biases, whether due to their technological characteristics or possible human failures. Blockchain networks create various legal and social challenges, in the field of privacy protection, in the field of cryptocurrencies and the like.The purpose of the article is to present the problems inherent in the adoption of blockchain technology to the public and in particular to regulators. In doing so, the article maps various issues in blockchain technology, attempts to refute assumptions and misconceptions regarding blockchain, presents tools for examining whether there is a need to use this technology, presents possible more effective alternatives in most cases, and discusses some of the legal implications that may arise with adoption of blockchain technology.