BLOCKCHAIN IN COMPANIES LAW

Abstract

Blockchain technology has emerged as a transformative force in companies' law, revolutionizing the way businesses operate and interact within legal frameworks. This abstract focuses on the integration of blockchain technology in companies' law and its implications for transparency, efficiency, and security. Specifically, this article explores the use of blockchain in companies' law, with an emphasis on two jurisdictions: Estonia, Switzerland, Malta and Singapore. The article highlights the advantages of blockchain technology in companies' law, including the immutability of records, enhanced security through cryptography, and the potential for smart contract automation. It also emphasizes the importance of the legal frameworks in Estonia, Switzerland, Malta and Singapore, which aim to recognize the legal validity of blockchain-based transactions and provide regulatory clarity. By leveraging blockchain's features of transparency, immutability, and decentralization, companies can enhance corporate governance, improve shareholder rights, and streamline administrative processes. It is important for legal frameworks to adapt to these advancements and provide clarity on the legal validity and enforceability of blockchain-based shareholder management systems. Since Romania has yet to adopt any blockchain – based business law tools, this article is aimed to provide an insight on currently available good practices, both European and from Singapore, in view of setting a standard to which we should be focusing on, as well.

Keywords

• blockchain
• companies’ law
• shareholders registry
• crypto application of blockchain
• corporate governance