Blockchain technology allows the creation of distributed ledgers. These distribute control among the players rather than requiring a centralised database, and so can reduce costs and speed up transactions. However, when it is used for assets which exist outside the blockchain itself, an unmodified adoption of the technology would bypass legal and regulatory requirements which, for these kinds of assets, cannot be bypassed without fundamental change to the law. Building those requirements into any blockchain-based system introduces features which are not necessary for performing its core functions, and we call these ‘legal impurities’. The most important legal impurities required are those relating to identification of the parties, and introducing the ability of a trusted third party to make modifications to the ledger. Not only does introducing these legal impurities make fundamental changes to the concept behind blockchain, but it is also essential that they are implemented in ways which do not threaten the integrity of the blockchain as evidence.

中文翻译：

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超越比特币-法律杂质和链下资产

区块链技术允许创建分布式分类帐。这些可以在玩家之间分配控制权，而不是需要集中式数据库，因此可以降低成本并加快交易速度。但是，当将其用于存在于区块链本身之外的资产时，未经修改地采用该技术将绕过法律和法规要求，而对于这些类型的资产，如果不对法律进行根本性更改，就无法绕开。将这些要求构建到任何基于区块链的系统中都会引入执行其核心功能不必要的功能，我们称这些为“法律杂质”。所需的最重要的法律杂质是与识别各方有关的杂质，并引入了受信任的第三方对分类帐进行修改的能力。