New Blockchain Law Society to study legal issues surrounding new tech

A group of South Korean experts on blockchain technology said Monday it will launch the Blockchain Law Society to speed up legal studies on the decentralized database system.

"Blockchain Law Society was founded not only to study blockchain technology from a legal aspect but to promote interdisciplinary collaborations between diverse areas, such as economics, computer engineering (and) field business," the organization said in its release.

Blockchain is a key technology for digital currencies, enabling data sharing across a network of individual computers.

The organization said it will invite experts from various fields, including judges, prosecutors, lawyers, professors and industry experts.

The official launch ceremony will be held on Friday.

The society is set to carry out studies on various legal aspects of the emerging technology, including on blockchain-related legislation.