Cai Pugh - 659783
Can TMT lawyers further regulate transactions that
take advantage of Blockchain Technology?
Student Name: Cai Pugh – 659783
Skills Challenge Certificate - Individual Project
Word Count: 5,474
1
, Cai Pugh - 659783
Table of Contents
1. Glossary of Acronyms.……………………………………………………..3
2. Abstract……………………………………………………………………...4
3. Introduction………………………………………………………………....5
4. Aims & Objectives………………………………………………………….7
5. Methodology………………………………………………………………..9
6. Analysis of Information & Data………………………………………….11
6.1. Demographical Analysis……………………………………………..11
6.2. Aim 1…………………………………………………………………...12
6.3. Aim 2…………………………………………………………………...17
6.4. Aim 3…………………………………………………………………...18
7. Conclusion…………………………………………………………………20
8. Bibliography……………………………………………………………….23
9. Appendix…………………………………………………………………..25
9.1. Review…………………………………………………………………25
9.2. Interview Transcript………………………………………………….27
9.3. Primary Research Survey…………………………………………….30
2
, Cai Pugh - 659783
1. Glossary of Acronyms
TMT: Technology, media and telecommunications. This typically refers to the area of
law that deals with the legal implications the world of technology can have1.
DLT: Distributed Ledger Technology. This refers to the distributed ledger that
blockchain technology takes advantage of; it uses its technological infrastructure and
protocols to allow simultaneous user access, validation, and record updating across
a wide-ranging network2.
GDPR: General Data Protection Regulation. This refers to a legal framework that sets
guidelines for businesses who collect and process personal data from individuals
who live in the EU. It is important to note that the UK have plans to form their own
data protection laws and abide by them post-Brexit; however, this has not yet taken
place to date3.
DFD: Data Flow Diagram. This refers to a graphical representation used to map out
the flow of information of any process or system4.
DPA: Data Protection Act. This refers to a United Kingdom Act of Parliament
designed to protect personal data stored digitally or in an organised paper filing
system5.
ROI: Return on Investment. This refers to the calculation of the amount of return on
a particular investment, relative to the investment’s cost6.
ATH: All-Time High. This refers to when the price of a particular stock hits the
highest point within a set period of time7.
3
, Cai Pugh - 659783
2. Abstract
The purpose of this project was to investigate whether TMT lawyers are able to
further regulate transactions that take advantage of blockchain technology. I focused
my study on how feasible it is for TMT lawyers to implement new safeguarding
measures by evaluating the impacts blockchain technology has multiple business
owners, examining the reasons for change in market capitalisation for blockchain
technology, and investigating the regulatory methods currently in place to safeguard
consumers from issues surrounding blockchain technology.
To complete my aims, I gathered relevant information and statistics from secondary
sources to compare with the results concluded from my primary research survey. I
also provided a demographical analysis of my survey participants to ensure my
survey was targeted to the correct audience, and to ensure my responses were
reliable and credible. In addition, I evaluated the validity of my secondary sources,
and the credibility of the author, throughout the information analysis while
comparing their interpretations to aid me in forming a justifiable, well-informed
conclusion.
Overall, I concluded that TMT lawyers cannot further regulate transactions that take
advantage of blockchain technology directly. However, they are able to educate their
clients about the dangers and risks that are involved with implementing this form of
technology into their business. This is because I believe that making this information
more readily available and easily accessible will encourage business owners to gain a
full understanding of what blockchain technology actually is, and will enable them
to draw their own opinions and reach a decision on whether they would like to
implement blockchain technology into their business based on the information they
have been provided with.
4
Can TMT lawyers further regulate transactions that
take advantage of Blockchain Technology?
Student Name: Cai Pugh – 659783
Skills Challenge Certificate - Individual Project
Word Count: 5,474
1
, Cai Pugh - 659783
Table of Contents
1. Glossary of Acronyms.……………………………………………………..3
2. Abstract……………………………………………………………………...4
3. Introduction………………………………………………………………....5
4. Aims & Objectives………………………………………………………….7
5. Methodology………………………………………………………………..9
6. Analysis of Information & Data………………………………………….11
6.1. Demographical Analysis……………………………………………..11
6.2. Aim 1…………………………………………………………………...12
6.3. Aim 2…………………………………………………………………...17
6.4. Aim 3…………………………………………………………………...18
7. Conclusion…………………………………………………………………20
8. Bibliography……………………………………………………………….23
9. Appendix…………………………………………………………………..25
9.1. Review…………………………………………………………………25
9.2. Interview Transcript………………………………………………….27
9.3. Primary Research Survey…………………………………………….30
2
, Cai Pugh - 659783
1. Glossary of Acronyms
TMT: Technology, media and telecommunications. This typically refers to the area of
law that deals with the legal implications the world of technology can have1.
DLT: Distributed Ledger Technology. This refers to the distributed ledger that
blockchain technology takes advantage of; it uses its technological infrastructure and
protocols to allow simultaneous user access, validation, and record updating across
a wide-ranging network2.
GDPR: General Data Protection Regulation. This refers to a legal framework that sets
guidelines for businesses who collect and process personal data from individuals
who live in the EU. It is important to note that the UK have plans to form their own
data protection laws and abide by them post-Brexit; however, this has not yet taken
place to date3.
DFD: Data Flow Diagram. This refers to a graphical representation used to map out
the flow of information of any process or system4.
DPA: Data Protection Act. This refers to a United Kingdom Act of Parliament
designed to protect personal data stored digitally or in an organised paper filing
system5.
ROI: Return on Investment. This refers to the calculation of the amount of return on
a particular investment, relative to the investment’s cost6.
ATH: All-Time High. This refers to when the price of a particular stock hits the
highest point within a set period of time7.
3
, Cai Pugh - 659783
2. Abstract
The purpose of this project was to investigate whether TMT lawyers are able to
further regulate transactions that take advantage of blockchain technology. I focused
my study on how feasible it is for TMT lawyers to implement new safeguarding
measures by evaluating the impacts blockchain technology has multiple business
owners, examining the reasons for change in market capitalisation for blockchain
technology, and investigating the regulatory methods currently in place to safeguard
consumers from issues surrounding blockchain technology.
To complete my aims, I gathered relevant information and statistics from secondary
sources to compare with the results concluded from my primary research survey. I
also provided a demographical analysis of my survey participants to ensure my
survey was targeted to the correct audience, and to ensure my responses were
reliable and credible. In addition, I evaluated the validity of my secondary sources,
and the credibility of the author, throughout the information analysis while
comparing their interpretations to aid me in forming a justifiable, well-informed
conclusion.
Overall, I concluded that TMT lawyers cannot further regulate transactions that take
advantage of blockchain technology directly. However, they are able to educate their
clients about the dangers and risks that are involved with implementing this form of
technology into their business. This is because I believe that making this information
more readily available and easily accessible will encourage business owners to gain a
full understanding of what blockchain technology actually is, and will enable them
to draw their own opinions and reach a decision on whether they would like to
implement blockchain technology into their business based on the information they
have been provided with.
4
