2021 Volume 41 Issue 1 Pages 4-15
Blockchain technology was first introduced as the technology behind the decentralized virtual currency, but there is the expectation that its characteristics of data transfer could make other applications possible. The goal of this paper is to define the three layers of Blockchain economy: (1) code layer guarantees the accurate and irreversible data with the distribution of virtual currency, (2) business protocol layer enables the smart contract as an autonomous machine, and (3) regulation layer ensures the enforcement of contract. This paper analyzes the inseparability of three layers in order to maximize the potential of Blockchain based economy.
