Blockchain as Digital Court

June 20, 2019

Land laws have been here for centuries and we have a good understanding of property rights about who owns what piece of real estate. With most of our economy going digital, data is becoming more and more valuable. This is one of the reasons big companies were able to provide their services for free in exchange for user data. However, there exist no extensive laws against data protection. Each day entities make profits by exploiting our data but these profits are not shared among the data owners instead it fills the pockets of big tech companies. Recent awareness of data privacy led to the passing EU General Data Protection Regulation (GDPR). However, these regulations live in the siloed confinement of our physical world.

Never much than now, there is a need for a system which can serve as a Digital Court (Blockchain). As the Internet is global and our data is not confined to a specific nation, this court also had to be a global one governed by game theoretical laws rather than culture laws. Programs(Smart Contracts) running on this system will serve as digital laws or contracts for our data protection.