Mahivardhan Singh Rajawat, School of law, Manipal University, Jaipur
ABSTRACT
The alarming rate at which humans have made scientific and technological advances has now come a new legal challenge and these new challenges include cryptocurrency, blockchain and intelligence contracts. This article seeks to introduce these scientific and technological manuances through observation response to international law in this regard, while highlighting the need for that cryptocurrency control, blockchain and smart contracts as this helps many fields including, international trade and financial law. The article wishes to consider the need for control a framework that must be put in place to assist in the great struggle to bring about true democracy the world economy. WTO (World Trade Organization), and ICL (International Commercial Law) they must reach an agreement on the regulatory framework for this possible renaming transform the world economy. The article highlights the challenges facing all International Governing Body, which may be affected by this change. Although these inventions of propaganda modern technology can transform the global economy, posing a threat to the law as well order, and assistance in criminal activities, therefore brings government shock, and may reflect the inability of the legal process to regulate such activity. Therefore, this article suggests that the system must be controlled by governments with strict surveillance, rather than restricted again facing the consequences of the "forbidden apple". International agencies can assist in regulating framework as this new digital age now demands a budget-friendly lever system and to curb the lack of transparency in the global economy, opening up new kind of money to in the world and to bring order to existing payment systems that are neutral. This, therefore, it may also want to explore the current discussion of the e-commerce regulatory framework to the WTO, which includes a review and approval of a new legal invention to interpret the rules.
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