Abstract.
As a global and decentralized payment system that operates without centralized control, Bitcoin held... JSTOR is part of ITHAKA, a not-for-profit organization helping the academic community use digital technologies to preserve the scholarly record and to advance research and teaching in sustainable ways. These characteristics, when combined, enable the deployment of autonomous software and explain why blockchains serve as a powerful new tool to facilitate economic and social activity that otherwise... AS THE GREAT RECESSION began to worsen, Alistair Darling, then the United Kingdom’s Chancellor of the Exchequer, faced a difficult choice. This paper expounds the latest main regulatory projects and industry-wide consultations in the United States (US), in the European Union (EU) and in the main economic countries where distributed ledgers (thereafter, “Blockchain”) regulations have … This page was processed by aws-apollo5 in 0.188 seconds, Using the URL or DOI link below will ensure access to this page indefinitely.
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©2000-2020 ITHAKA. Some have said this tool may change society as we know it. That is because disintermediation-a blockchain's greatest asset-subverts critical regulation. However, this particular drone was controlled by a smart contract running on the Ethereum blockchain.² The drone’s engines powered on, lifting the machine into the air and kicking into action a smart contract that sent the device across a predefined path dictated—only and exclusively—by code. (For EndNote, ProCite, Reference Manager, Zotero, Mendeley...), 1 Blockchains, Bitcoin, and Decentralized Computing Platforms, 3 Digital Currencies and Decentralized Payment Systems, 6 Tamper-Resistant, Certified, and Authenticated Data, 7 Resilient and Tamper-Resistant Information Systems. This book examines how cryptocurrencies based on blockchain technologies fit into existing general law categories of public and private law.
Lessons from the Berlin Airlift seeped into the private... ON OCTOBER 13, 2015, Clique Fund, a hedge fund based in New York City, borrowed $10 million in stock, relying on a blockchain-based securities system built by Patrick Byrne, the freethinking CEO of Overstock.com. Rather, it was the growth and expansion of a new form of anarchy, which May defined as “crypto anarchy.”² As May described in his “Crypto Anarchist Manifesto,” the Internet and advances in public-private key cryptography would soon enable individuals and groups to communicate and interact with one another in a more anonymous manner. Governments administer voting systems, molding the future of nations and states, and they maintain registries, defining property’s metes and bounds.³. WHEN ANALYZING how to regulate the Internet, Lawrence Lessig elaborated a theory—often referred to as the “pathetic dot theory”¹—that described how an individual’s actions could be controlled or affected via four different mechanisms:lawsenacted by the state,social normsdictated by society,market forcesderived from the laws of supply and demand, and thearchitecturethat shapes both the physical and digital worlds.².
The answer lies in a technology called blockchain, which can be used for much more than Bitcoin. Canada * A7. To learn more, visit our Cookies page. Because of these characteristics, many argued that the Internet would eliminate the need for centralized control. But asBlockchain and the Lawmakes clear, the technology cannot be harnessed productively without new rules and new approaches to legal thinking. Introduction * A2. You do not have access to this JSTOR®, the JSTOR logo, JPASS®, Artstor®, Reveal Digital™ and ITHAKA® are registered trademarks of ITHAKA. By relying on untraceable networks and “tamper-proof boxes implement[ing] cryptographic protocols,” people... UNTIL THE BIRTH of the Internet, computers suffered in isolation.
A general-purpose tool for creating secure, decentralized, peer-to-peer applications, blockchain technology has been compared to the Internet itself in both form and impact. The paper extensively covers and compares the current regulatory trends in selected relevant countries on the various applications enabled or issues raised by the Blockchain technology (Bitcoin/virtual currencies/crypto-tokens, smart contracts, decentralized autonomous organization (“DAO”), initial coin offerings/“ICO”…).
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