While the reliability of decentralized networks has long aroused distrust, Blockchain technology has been able to provide a sufficiently credible technological response not only to support many industrial use cases, but also to interest legal professionals. Archipels removes any doubts that may exist on the probative value of this technology and on the use of the Blockchain in business needs.
I. Blockchain is already recognized as a proof mechanism
Blockchain technology represents a universal proof mechanism. In particular, the technical means for producing and capturing evidence are homogeneous throughout the world, thus going beyond the single framework of national borders and regulations. Trust is in technology.
From a regulatory point of view, some countries have wanted to go beyond this technical reality to go even further in recognizing this technology.
II. More and more areas of law include blockchain
For the moment and in France, the legal recognition of the Blockchain is still sectorial. However, more and more areas of law include blockchain, thus following a trend of official recognition of the probative value of this technology: the Monetary and Financial Code or the PACTE law.
In Blockchain, evidence is generated by electronic signature and seal, electronic timestamps, and hash function processes. Signed, timestamped, or hashed data is useful evidence in the context of a litigation or to demonstrate compliance to a regulatory authority.
III. The legal value of electronic certificates
Regulatory changes are underway that will strengthen the evidential value of blockchain technology and associated services, such as the release of electronic attributes certification.
In European legislation, the proposed EUid regulation establishes a new trust service for the provision of electronic attribute certificates. An attribute is defined therein in particular as a characteristic or quality of a natural or legal person or entity, in electronic form. The attribute qualified electronic certificate is expected to produce the same legal effects as certificates legally issued on paper.
Therefore, by 2023, the provision of a qualified electronic certificate will have the same legal value as a paper certificate in a customer knowledge file.
The regulatory changes taking place at European and French level will therefore further strengthen the legal security offered by the Archipels blockchain.
IV. Bridging the gap between today and tomorrow
Since blockchain evidence can be legally produced in court, the judge will have to evaluate its probative value, without being able to reject it for the sole reason that it is digital. However, the conclusion of a convention on evidence makes it possible to facilitate the work of the judge but also to ensure legal certainty of the plaintiffs before the adoption of the EUid regulation.
With a view to always reinforcing legal certainty, the use of the blockchain makes it possible to offer a sufficiently defined governance to conclude a test agreement between its users.
Only the use of an authorized blockchain allows you to set up this contractual tool.
The Blockchain is a universal evidential mechanism and will soon be recognized by law in all its evidential value, thus making the verification of data in customer journeys compliant with the legal provisions governing business activity.