What is the law applicable to transactions on blockchain private distributed ledgers ? ISDA, R3 and four major law firms answer the question in relation to the execution on distributed ledgers of ISDA Master Agreements, one of the most widely used trading contract set of templates worldwide.
A deep private international law analysis has been conducted in six major jurisdictions: England & Wales, NY, France, Irland, Japan, Singapour.
The papers are available here
Key questions include:
– Is a transaction on the ledger admissible as evidence before a court
– Would a court respect the choice of law made by the parties with respect to the transaction on the ledger and the operation of the ledger