Law technology

Abstract

In this chapter, I explain how regulators could help blockchain and antitrust to work in tandem. I start by identifying the unique challenges blockchain creates for policymakers and regulators in that regard (Section 1). I explain why blockchain is no “horse”, in the words of Judge Easterbrook would put it, meaning that it requires specific regulations for whomever wants to address the issues discussed in Part 2 of this book. Against this background, I encourage policymakers and antitrust agencies to consider four criteria when assessing the benefits of regulation: accuracy, manageability, applicability, and objectivity. With these factors in mind, I argue (Section 2) that although the confrontational approach might be tempting - after all, confrontation has always been the law’s way to impose its supremacy - adopting a “law is code” approach would maximize social welfare.