블록체인과 비트코인의 법적 규제와 한계

With the "Fourth Industrial Revolution" being adopted as a core theme at the Davos Forum in Switzerland (World Economic Forum: WEF) in 2016, it is being treated as a very hot topic both in the business world as well as academia. The block chain, which is emerging as the core technology of the fourth industrial revolution, is called 'the fourth generation revolution' and is emerging as the universal value of the global society connected to the Internet. The block chain technology, which started from the transaction of passwords (typically bit coin), is spreading to all industries including finance, logistics, distribution, medical, manufacturing and energy.The World Economic Forum estimates that by 2025, 10% of global GDP will be stored in distributed public books on the block chain. The block chain is being utilized in various application fields because it has the advantage of using a global peer-to-peer network to ensure the integrity of the value exchanged between trading partners without going through a third trust institution.A block chain is a structure in which a chain is formed by generating a block containing transaction information generated during a specific time, verifying the transaction information in a block by transmitting the block to all members, and connecting to the existing block if there is no abnormality. Using this block chain technology, information is stored on the network rather than on the server. Since new information is stored on the network, it is difficult to counterfeit or tamper with the data. Therefore, the block chain overcomes the problems of the existing centralized system and is an innovation technology based on the integrity and reliability of the system. Therefore, it is time to look for legal regulatory methods for the cryptographic market and the block chain technology to be activated in Korea in the future. In addition, it is time to examine various financial models that utilize bit coins and other financial products, provide consumer-friendly financial products, and develop financial markets through partnerships or fostering with pin tech companies based on block chain technology. Governments that manage centralized billing systems must also closely monitor and prepare for changes in the financial IT infrastructure that will be driven by future block-chain technologies. This paper examines the characteristics and use cases of the block chain, the transaction and mining of the password coin (bit coin), application limit of the block chain technology, and the bitcoin. This paper examines the legislation of foreign countries on legal regulations and suggests the legislative direction for the regulation of bit coin in Korea.