Arruñada, BenitoUniversitat Pompeu Fabra. Departament d'Economia i Empresa2018-02-142018-02-142017-01-18Minnesota Journal of Law, Science & Technology, 19, 55-105.http://hdl.handle.net/10230/27993The paper identifies what value blockchain adds to the contractual and property processes, exploring its potential and analyzing the main difficulties it is facing. It argues that, contrary to naive conceptions that proclaim the end of intermediaries and state involvement, blockchain applications will rely on a variety of interface, completion and enforcement specialists, including standard public interventions, especially for property transactions. Without these interventions, blockchain applications will at most enable trade in in personam claims instead of in rem rights , therefore facilitating personal instead of truly impersonal that is, asset-based transactions.application/pdfengL'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative CommonsBlockchain's struggle to deliver impersonal exchange<resourceType xmlns="http://datacite.org/schema/kernel-3" resourceTypeGeneral="Other">info:eu-repo/semantics/workingPaper</resourceType><subject xmlns="http://datacite.org/schema/kernel-3" subjectScheme="keyword">property rights</subject><subject xmlns="http://datacite.org/schema/kernel-3" subjectScheme="keyword">enforcement</subject><subject xmlns="http://datacite.org/schema/kernel-3" subjectScheme="keyword">transaction costs</subject><subject xmlns="http://datacite.org/schema/kernel-3" subjectScheme="keyword">impersonal exchange</subject><subject xmlns="http://datacite.org/schema/kernel-3" subjectScheme="keyword">Blockchain</subject><subject xmlns="http://datacite.org/schema/kernel-3" subjectScheme="keyword">distributed ledgers</subject><subject xmlns="http://datacite.org/schema/kernel-3" subjectScheme="keyword">Business economics and Industrial organization</subject><rights xmlns="http://datacite.org/schema/kernel-3">info:eu-repo/semantics/openAccess</rights>