A Novel Centralized Blockchain and Cryptocurrency for E-Governance

The work undertaken in this research seeks to solve the problem of the lack of state of art Civil Law and legislation, which till now is rather unavailable. A proposed solution is a need of new legislation that offers coherent as well as thwartwise answers to address a proper and upright use of crypto-currencies. It is proposed that the legislators and lawmakers must aim to provide rules essential for achieving meticulous and explicit policies & goals with reference to virtual assets like cryptos. This research work also highlights some shortcomings in using existing legal concepts when it comes to regulating cryptocurrencies. Furthermore, in practice, the current legislative arrangement is rather unable to achieve the required enhancements to regulate crypto-currencies by just utilizing traditional concepts as used to regulate fiat currencies. It is also shown that the current work in this paper is actually in-line with the present corpus of literature, claiming that current suggestion to regulate crypto-currencies would not inhibit the required development and promoting blockchain and cryptocurrency technologies. However, this has to be developed and grown within the right legal framework.