Blockchain, Regulation, and the Business Ecosystem: A Legal Perspective

Abstract

Purpose- This study explores the critical business implications of Web3 technologies within Türkiye's unique legal landscape, a nation experiencing significant crypto adoption and evolving regulations. By analyzing the architectural shifts from Web1.0 to Web3, we aim to understand how traditional legal frameworks create significant challenges for all stakeholders affected by decentralized environments, not just those operating within them.
Design/methodology/approach- This study adopts a multidisciplinary and comparative research design, integrating both technological and legal perspectives to investigate the evolution from Web1.0 to Web3 and the associated legal implications. Given the complexity and scope of the subject matter, a mixed methods approach is employed, combining qualitative content analysis, document analysis, and comparative case study methodologies.
Findings- The findings suggest that existing legislation is inadequate and outdated and poses a risk of future legislative actions causing irreversible or difficult-to-remedy harm if current legal gaps remain unaddressed.
Discussion- Drawing from real-world case scenarios, the study highlights the urgent need for adaptive legal strategies that align with the decentralized, borderless, and immutable nature of blockchain infrastructures. The findings aim to support business leaders, legal practitioners, and policymakers seeking to innovate responsibly within the emerging Web3 economy.