Drafts by Ashim Chapagain
This research paper aims to explore the legality of blockchain technology and smart contracts and... more This research paper aims to explore the legality of blockchain technology and smart contracts and its impact on the existing legal framework of Nepal. The paper reviews the relevant Nepalese laws and regulations, including the Constitution of Nepal, the Civil Code, and the Electronic Transaction Act, to determine the legal status of blockchain technology and smart contracts. The study finds that the existing legal framework in Nepal is not yet fully equipped to address the complex legal issues arising from blockchain and smart contracts. The paper discusses the challenges and opportunities presented by this emerging technology, including the potential benefits for financial inclusion, transparency, and security. Furthermore, the research identifies the need for regulatory clarity and the development of a legal framework that recognizes the unique features of blockchain technology and smart contracts. The paper concludes by offering recommendations for policymakers to promote the development of a supportive legal framework that fosters innovation while protecting the rights of all stakeholders.
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Drafts by Ashim Chapagain