BLOCKCHAIN-BASED SOLUTIONS FOR FINANCIALLY DISTRESSED OR INSOLVENT COMPANIES
Journal Title: Challenges of the knowledge society ( Provocari ale societatii cunoasterii ) - Year 2019, Vol 11, Issue 13
Abstract
The era of technology has been developing numerous instruments constantly, with high impact even upon areas of commercial law. One of these instruments consists of the blockchain technology, which has revolutionized traditional businesses in terms of their functioning, performance and even funding. Funding is one of the best means for companies to deal with their state of financial difficulty or insolvency, which means that the blockchain technology may be able to represent a solution for insolvency prevention or even treatment. Moreover, the blockchain technology may be helpful in other insolvency-related issues, such as debtors' stocks', assets' and contracts' management and may even substitute the traditional process of voting a restructuring plan. This paper aims to identify if and how the blockchain technology may be used as an instrument of companies' insolvency treatment and even financial difficulty prevention, given the fact that so far, it hasn't been widely used for this purpose.
Authors and Affiliations
Corina Georgiana COSTEA
Keywords
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