Photo by Dmitry Demidko on UnsplashBlockchain technology has developed by operating autonomously, outside of the jurisdiction of any state. By its design, a blockchain does not require any traditional legal instruments (like those in contract law) or intermediaries in order to transfer crypto assets between users through blockchain applications worldwide (as well as to buy, sell, lend, borrow, deposit assets for staking, etc.). Enforcement of these relationships is done automatically by achieving consensus or by executing smart contracts when pre-defined code rules are met. However, while operating alongside legal systems, the blockchain intersects with them and produces legal consequences for crypto users in their daily reality. One of the key aspects here is the ownership of crypto assets.Crypto assets can be held, used, and disposed of. These properties de-facto give bitcoin a character of personal property (it is intangible as it does not have any physical presence). In traditional terms of private law, a property can be acquired in the ways specified in the national laws (e.g., by possession, agreement, and prescription). In the case of blockchains, the concept of private keys (a form of cryptography) has been put in the first place where the transfer of crypto assets does not depend on any legal rules. Whoever has a private key fully controls his or her cryptocurrency stored in a corresponding public address.When new crypto coins have been minted (first issued), they go to a public address of their first possessor, and the latter acquires the right of ownership to them. His private key is prima facie evidence of the ownership.A person can acquire crypto assets that have already been transacted before the acquisition. While within the legal framework, the transfer of ownership is mainly performed by agreement on behalf of the legal owner. In a blockchain, the transfer is\u2026<\/p>","protected":false},"excerpt":{"rendered":"
Photo by Dmitry Demidko on UnsplashBlockchain technology has developed by operating autonomously, outside of the jurisdiction of any state. By its design, a blockchain does not [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts\/3689"}],"collection":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/comments?post=3689"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts\/3689\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/media?parent=3689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/categories?post=3689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/tags?post=3689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}