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Blockchain 1.0 and 2.0

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Blockchain 1.0 and 2.0




The development of the blockchain technology has brought us ‘smart contract’ as the product of blockchain 2.0. Smart contracts which are operated by the infrustracture of blockchain provide cost and time reduce in legal processes. On the other hand, in frame of current technology smart contracts have some clashes against our current legal regulations. In our opinion, especially the irrevocable record system of blockchain is in contradiction with some principles of Obligation Law and Data Protection Law. Moreover, the definition of cryptocurrencies are immessenly controversial issue among regulatory institutions. In this article, these dilemmas are emphasized with the short definitions of blockchain and smart contracts.

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