Jurnal Wawasan Yuridika
Vol 7, No 1 (2023): March 2023

Virtual Land: Deciphering Blockchain-Based Property Transactions and Their Legal Implications

Muhammad Asrul Maulana (Faculty of Law, Universitas Muhammadiyah Sidoarjo)
Mochamad Tanzil Multazam (Faculty of Law, Universitas Muhammadiyah Sidoarjo)



Article Info

Publish Date
30 Mar 2023

Abstract

This study aims to investigate the scheme of virtual land transactions based on blockchain technology and the legal relationships among parties involved in such transactions. This research is descriptive, with the type of normative juridical research, using statutory and conceptual approaches, data collection techniques in the form of literature studies, then the data are analyzed qualitatively. The results reveal that the transaction process on platforms like Decentraland and The Sandbox includes registering a digital wallet, purchasing virtual land, managing and developing the land, reselling it as an NFT asset, and exchanging cryptocurrencies for local currency. The legal relationships between sellers, buyers, and platform owners are also identified. This research contributes to users' understanding of virtual land transactions and intellectual property ownership in the digital realm.

Copyrights © 2023






Journal Info

Abbrev

jwy

Publisher

Subject

Law, Crime, Criminology & Criminal Justice

Description

Jurnal Wawasan Yuridika (JWY) is a peer-reviewed journal published by Sekolah Tinggi Hukum Bandung. Jurnal Wawasan Yuridika (JWY) is a Journal published biannually in March and September. This journal provides immediate open access to its content on the principle that making research freely ...