Gao Yandong, Zhejiang University: Blockchain is stable, and the law is indispensable

On November 19th, Gao Yandong, director of the Center for Internet Law Research at Guanghua Law School of Zhejiang University, published the article “The blockchain is stable and the law is not lacking.” Gao Yandong said that the natural task of the law is to prevent risks and to prevent the blockchain from being maliciously used as a tool for crime. First, in the face of the risk of blockchain technology being abused, the law must set a red line. Secondly, the judiciary must clearly distinguish the boundaries between entrepreneurial risks and malicious violations. The latter should not be soft, and it is necessary to blow up warning posts in the opening stage. At the same time, government departments must innovate the supervision mode, and can no longer follow the regulatory model of the license-based planned economy, and must carry out data supervision. Third, the purpose of preventing technical risks is to better develop technology, and must not sacrifice development efficiency in pursuit of zero risk.