Journal of Legal Research

Journal of Legal Research

The Function of Blockchain Technology in International Economic Law with Emphasis on Green Economy Development

Document Type : Original Article

Authors
Meisam Norouzi 1
Sanaz Abolghasemi 2
Mehdi Eskandari Khoshgu 3
1 Assistant Professor, Department of Law, Faculty of Humanities, Bu-Ali Sina University, Hamedan, Iran.
2 PhD Student in Public International Law, Faculty of Humanities, Hamedan Branch, Islamic Azad University, Hamedan, Iran.
3 M.A in International Law, Institute of Civil and Development Higher Education, Hamedan, Iran.
10.48300/jlr.2024.430473.2519
Abstract
The rapid advancement of blockchain technology has revolutionized not only information systems but also the foundations of international economic law. As nations increasingly prioritize sustainable development, the intersection between economic growth and environmental protection has become undeniable - economic policies shape ecological outcomes just as environmental changes influence economic trajectories. This study examines blockchain's transformative potential in international economic law and its capacity to accelerate green economy development. As a secure, decentralized platform, blockchain offers unique advantages for sustainable economic systems. Its applications span critical areas including international trade, supply chain management, and e-commerce, where it enhances transparency, minimizes fraud, and enables real-time data verification. These features prove particularly valuable for green trade initiatives and natural resource management, where accountability and efficiency are paramount. By creating immutable records of environmental compliance and enabling smart contracts for sustainable practices, blockchain technology can optimize eco-friendly economic models while reducing administrative burdens. However, realizing this potential requires thoughtful regulatory frameworks. International economic law must evolve to address blockchain's unique characteristics, ensuring security and transparency while fostering innovation. The transition to a green economy ultimately demands coordinated efforts among governments, international organizations, and private sector actors - with blockchain serving as both a technological tool and a catalyst for institutional collaboration. This research highlights how strategic integration of blockchain systems can align economic activities with environmental objectives, creating synergies between technological progress and sustainable development.
Keywords
Green Economy
Green Trade
International Economic Law
Blockchain Technology
Sustainable Environment
  • Alzoubi, Yehia Ibrahim & Aneil Mishra. “Green blockchain - A move towards sustainability”. Journal of Cleaner Production, 430, (2023), 1-13.
  • Anser, Muhammad Khalid, Muhammad Usman, Danish Iqbal Godil, Malik Shahzad  Shabbir, Arshian Sharif, Mosab I Tabash & Lydia.Bares López. “Does globalization affect the green economy and environment? The relationship between energy consumption, carbon dioxide emissions, and economic growth”, Environmental Science and Pollution Research, 28, 37(2021), 51105 - 51118. https://doi.org/10.1007/s11356-021-14243-4
  • Avraamov, Georgy. “Experience of evergreen financing in the field of financial technologies”. Russian journal of resources, conservation and recycling, 9, 4(2022), 1-10. https://doi.org/10.15862/49ECOR422
  • Batrancea, Larissa, Marcel Ciprian Pop, Malar Maran Rathnaswamy, Ioan  Batrancea & Mircea-Iosif Rus. “An Empirical Investigation on the Transition Process toward a Green Economy”. Sustainability, 13, 23(2021), 131-51. https://doi.org/10.3390/su132313151
  • Chen, Delton B. “Utility of the Blockchain for Climate Mitigation”. Journal of the British Blockchain Association, 1, 1(2018), 1-9. https://doi.org/10.31585/jbba-1-1-(6)2018
  • Chiang, Chun-Wei, Betanzos Eber & Saiph Savage. “The Challenges and Trends of Deploying Blockchain in the Real World for the Users’ Need”. Journal of Cyberspace Studies, 3, 2(2019), 119-128. https://doi.org/10.22059/jcss.2019.72454
  • Cui, Ming-li, Tian-tian Feng & Hao-ran Wang. “How can blockchain be integrated into renewable energy? A bibliometric-based analysis”. Energy Strategy Reviews, 50, (2023), 1-20. https://doi.org/10.1016/j.esr.2023.101207
  • D’Amato, Dalia & Jouni Korhonen. “Integrating the green economy, circular economy and bioeconomy in a strategic sustainability framework”. Ecological Economics, 188, 2(2021), 107-143. https://doi.org/10.1016/j.ecolecon.2021.107143
  • Dierksmeier, Claus & Peter Seele. “Blockchain and business ethics”. Business Ethics: A European Review, 29, 2(2020), 348-359. https://doi.org/10.1111/beer.12259
  • Dorofeev, M. L. “Blockchain perspectives in the development of green economy finance”. Vestnik Universiteta, 5, (2020), 178-185. https://doi.org/10.26425/1816-4277-2020-5-178-185
  • Frizzo-Barker, Julie, Peter A. Chow-White, Philippa R. Adams,  Jennifer Mentanko, Dung Ha & Sandy Green. “Blockchain as a disruptive technology for business: A systematic review”. International Journal of Information Management, 51, (2020). http://dx.doi.org/10.1016/j.ijinfomgt.2019.10.014
  • Hauck, Ronny. “Blockchain, Smart Contracts and Intellectual Property; Using distributed ledger technology to protect, license and enforce intellectual property rights”. Legal Issues in the Digital Age, 1, 1(2021), 17-41. https://doi.org/10.17323/2713-2749.2021.1.17.41
  • Howson, Peter. “Distributed degrowth technology: Challenges for blockchain beyond the green economy”. Ecological Economics, 184, (2021), 1-7. https://doi.org/10.1016/j.ecolecon.2021.107020
  • Huang, Lihong. “Regulation of Regional Economic Law Laws Incorporating Adaptive Differential Evolutionary Algorithms from a Blockchain Perspective”. Applied Mathematics and Nonlinear Sciences, 9, 1(2024), 1-18. https://doi.org/10.2478/amns.2023.2.00338
  • Kamal, Zainab Al & Rana F. Ghani. “A Proposed hash algorithm to use for blockchain base transaction flow system”. Periodicals of Engineering and Natural Sciences (PEN), 9, 4(2021), 657-673. http://dx.doi.org/10.21533/pen.v9i4.2401
  • Khan, Abdul Rehman, Muhammad Umar, Alam Asadov, Muhammad Tanveer & Zhang Yu. “Technological Revolution and Circular Economy Practices: A Mechanism of Green Economy”. Sustainability, 14, 8(2022), 4524. https://doi.org/10.3390/su14084524
  • Lin, Shi-Yi, Lei Zhang, Jing Li, Li-Ii Ji & Yue Sun. “A survey of application research based on blockchain smart contract”. Wireless Networks, 28, 2(2022), 635-690. http://dx.doi.org/10.1007/s11276-021-02874-x
  • Liu, Weihua, Xinyu Liu, Xiaoran Shi, Jiahe Hou, Victor Shi & Jingxin Dong. “Collaborative adoption of blockchain technology: A supply chain contract perspective”. Frontiers of Engineering Management, 10, 1(2023), 121 - 142. https://doi.org/10.1007/s42524-022-0239-8
  • Mubarik, Mobashar, Raja Zuraidah Raja Mohd Rasi, Muhammad Faraz Mubarak & Rashid Ashraf. “Impact of blockchain technology on green supply chain practices: evidence from emerging economy”. Management of Environmental Quality, 32, 5(2021), 1023-1039. https://doi.org/10.1108/MEQ-11-2020-0277
  • Munir, M. Adeel, M Salman Habib, Amjad  Hussain, Muhammad Ali  Shahbaz, Adnan  Qamar, Tariq  Masood, M. Sultan, M.A. Mujtaba, Shahid Imran, Mudassir Hasan, Muhammad.Saeed Akhtar, Hafiz Muhammad, Uzair Ayub & Chaudhary Awais Salman. “Blockchain Adoption for Sustainable Supply Chain Management: Economic, Environmental, and Social Perspectives”. Frontiers in Energy Research, 10, (2022), 1-24. https://doi.org/10.3389/fenrg.2022.899632
  • Ramazani Ghavamabadi, Mohammad Hossein. "Green Economy: A Step Toward Achieving Sustainable Development in International Environmental Law." Encyclopedia of Economic Law, 21, 6(2014), 114-141. https://doi.org/10.22067/le.v21i6.45080 (in Persian)
  • Sarvari, Sajjad. "Green Economy." Nashae Elm Journal, 2, 3(2011), 36-39. (in Persian)
  • Šilenskytė, Ausrine, Jurgita Butkevičienė & Andrius, Bartminas. “Blockchain-based connectivity within digital platforms and ecosystems in international business”. Journal of International Management, 30, 3(2024), 1-14. https://doi.org/10.1016/j.intman.2023.101109
  • Tan, Bing Qing, Fangfang Wang, Jia Liu, Kai Kang & Federica Costa. “A Blockchain-Based Framework for Green Logistics in Supply Chains”. Sustainability, 12, 11(2020), 1-13. http://dx.doi.org/10.3390/su12114656
  • Tripathi, Gautami, Mohd Abdul Ahad & Gabriella Casalino. “A comprehensive review of blockchain technology: Underlying principles and historical background with future challenge”. Decision Analytics Journal, 9, 1(2023), 100-344. https://doi.org/10.1016/j.dajour.2023.100344
  • Umarov, H. “The impact of blockchain and cryptocurrencies on the global financial system: Prospects and contradictions”. Finance and Credit, 27, 9(2021), 2096-2117.
  • Viano, Cristina, Sowelu Avanzo, Guido Boella, Claudio Schifanella & Vincenzo Giorgino. “Civic Blockchain: Making blockchains accessible for social collaborative economies”. Journal of Responsible Technology, 15, (2023), 1-11. https://doi.org/10.1016/j.jrt.2023.100066
  • William, John, Daniel Alfred, Rajendran Santhosh, Pranam Pradish, Berry Yosuva, Sreedharan Anuj, Gul Junaid & Paul Anand. “Blockchain Technologies: Smart Contracts for Consumer Electronics Data Sharing and Secure Payment”. Electronics, 12, 1(2022), 208. https://doi.org/10.3390/electronics12010208
  • Zheng, Z, S. Xie, H.N. Dai, X. Chen & H. Wang. “An overview of blockchain technology: architecture, consensus, and future trends”. IEEE transactions on big data, (2017), 557-564. DOI: 10.1109/BigDataCongress.2017.85
Journal of Legal Research
Volume 24, Issue 62
Summer 2025
Pages 109-136