Abstract This study examines the risks of data concentration and centralized data management in platform-based sharing businesses, assesses the limitations of existing regulatory frameworks in Japan, explores the potential of blockchain technology, and proposes blockchain-specific regulatory measures along with future strategies as potential solutions to these challenges. A qualitative, conceptual analysis was conducted, reviewing literature on sharing economy platforms, regulatory frameworks, and blockchain mechanisms. The study finds that platform-based sharing businesses generate economic, social, and environmental value but face technological, organizational, and structural vulnerabilities within centralized data management architectures. Blockchain technology offers decentralized architectures, traceability, and immutability, and may provide a basis for implementing Self-Sovereign Identity (SSI), which could enable individuals to exercise greater control over their personal data. Conventional centralized data-management architectures and existing legal regulations are limited in their ability to address structural vulnerabilities and security risks in platform-based sharing businesses. Integrating blockchain technology with blockchain-specific regulatory measures could enhance data security, mitigate vulnerabilities, and ensure operational and legal accountability. To achieve this, blockchain-specific legislation is necessary to account for the technical characteristics of blockchain systems and to provide clear mechanisms for regulatory compliance and risk management. Given the observed gap between the growing demand for blockchain-based applications and the absence of corresponding legal frameworks in Japan, a more detailed analysis of specific rules for blockchain-specific regulation constitutes an important direction for future research.
LI et al. (Tue,) studied this question.