• Sri Sairam C R
• Sriram Sanjay M

This study examines the concept of technology and law in the light of its interactions with legal systems tracing from its evolution and changes over time, drawing inspiration Katharina Pistor's foundational book "The Code of Capital" and other relevant texts. With a fundamental question of “Do we need law at all in the age of computers, AI and coding?”, an attempt is made here to analyse if and whether Blockchain technology which is a decentralized and tamper-resistant digital ledger system, for instance, has emerged as a disruptive force for law as a sole functionary of legal system and why the markets may adopt such enforcement mechanisms rather than legal enforcement purely from a transactional economics perspective. Although it makes the promises of openness, security, and efficiency, integrating it into the current political and economic system there do lie many difficulty and challenges. Starting with the importance of property rights emphasized in Dr. Pistor's work, which also demonstrates how they support our legal and economic institutions. Important problems concerning digital assets, smart contracts, and dispute resolution in decentralized net works are addressed by the junction of blockchain technology and property rights. Additionally, blockchain's economic ramifications are significant, challenging ideas about money, monetary policy, and financial intermediation. Furthermore, since it involves property rights and transactions costs, It is pertinent to discuss the Coase Theorem and related ideas highlight the possibility for private bargaining and self-regulation to manage externalities resulting from blockchain activity in the context of law and economics. However, in order to protect the public interest, regulatory involvement is required due to the complexity of real-world issues including transaction costs, information asymmetry, and collective action issues. The emphasis of this abstract is on the necessity of regulatory monitoring in the blockchain industry firstly for the law to save itself, secondly striking a balance between innovation and for other outcomes such as consumer protection, fair competition, and financial stability. It also acknowledges the multidisciplinary character of this profession and the difficulties posed by its quickly changing environment. Future challenges include examining how blockchain affects financial markets, how smart contracts develop, and how governments regulate cryptocurrencies. Finally, this study explores the transformational potential and The intersection of blockchain technology, law, and economics poses regulatory issues. Interdisciplinary cooperation and adaptation in legal frameworks are essential as we traverse this changing terrain in order to fully utilize blockchain while addressing its complexity in our digital age.

"BLOCK-CHAIN TECH AND ITS INTERFACE WITH LAW ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.10, Issue 12, page no.b358-b362, December-2023, Available :http://www.jetir.org/papers/JETIR2312143.pdf

"BLOCK-CHAIN TECH AND ITS INTERFACE WITH LAW ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.10, Issue 12, page no. ppb358-b362, December-2023, Available at : http://www.jetir.org/papers/JETIR2312143.pdf