Traditional jurisdictional tests fail for blockchain because the concepts of location and presence do not apply: the blockchain has no location, physical or electronic, and no single node holds the entire chain.
Source quote, verbatim
The concept of location or presence in jurisdictional means does not apply to the blockchain. A location for the blockchain does not exist - not physically or even electronically.
From
Wulf A. Kaal, Marco Dell'Erba, Blockchain Innovation in Private Investment Funds - A Comparative Analysis of the United States and (2017), III. Regulatory Recognition of Blockchain Technology, p. 12 https://ssrn.com/abstract=3002908 · source PDF
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Wulf A. Kaal, Marco Dell'Erba, Blockchain Innovation in Private Investment Funds - A Comparative Analysis of the United States and (2017). SSRN: https://ssrn.com/abstract=3002908
restated_bykaal:claim:3441904-032 Traditional jurisdictional principles cannot directly apply to blockchain technology because the blockchain is...
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