Law Commons^™

Curb Your Enthusiasm: The Real Implications Of Blockchain In The Legal Industry, Justin Evans

The Journal of Business, Entrepreneurship & the Law

No abstract provided.

The Blockchain Explained, Or How To Make Lots Of Money In Cryptocurrency, Jason Tubinis

Presentations

The School of Law's Information Technology Librarian summarizes blockchain, the current impact is having on business, finance and e-commerce, and the potential implications for our not so distant future as it pertains to the law.

Coinsensus: The Need For Uniform National Virtual Currency Regulations, Anisha Reddy

Dickinson Law Review (2017-Present)

Google search volume for bitcoin and bitcoin-related keywords increased by as much as 1000 percent in 2017 from previous years. This increased interest comes hand-in-hand with increased regulatory and legislative scrutiny. Currently, there is disparate regulation for virtual currencies across national and state borders alike. States’ promulgation of various and incongruous virtual currency regulations have forced service providers to withdraw from different states within the country. However, transactions are not contained within state lines, and disparate state-by-state regulation is impracticable.

The Uniform Law Commission recognized the need for uniform guidance for those entering the North American market and drafted the …

Regtech, Compliance And Technology Judgement Rule, Nizan Geslevich Packin

Chicago-Kent Law Review

This Article focuses on the rise of Financial Technology, which revolutionized consumer financial service products, and challenged policymakers with regulating the rapidly evolving financial industry. In particular, it explores Regulatory Technology, also known as RegTech, which is the finance industry’s use of technology, especially information technology, in the context of regulatory monitoring, reporting and compliance. RegTech is designed to solve industry needs for a more effective and efficient way to automate corporate governance and compliance processes. Not only has FinTech proven to be a vital revenue source, especially in connection with lending or money transmission services, but it also helps …

Enforcing Constitutional Rights Through Computer Code, Steve Young

Catholic University Journal of Law and Technology

Lawmaking and enforcement has advanced since Hammurabi first wrote out his legal code thousands of years ago. Today, the American legal system relies on legislatively-enacted federal, state, county, and municipal legal codes, agency-created regulations, the judge-made common law, and various law enforcement entities. This can be a confusing and complex system of rules and their explanations with varying degrees of enforcement. Blockchain technology is an automatic and efficient alternative to written codes that must be humanly-enforced. There has been limited scholarly interest in the implications of a legal application of blockchain technology to a political system but there have been …

Changing Governance Models By Applying Blockchain Computing, Steve Young

Catholic University Journal of Law and Technology

No abstract provided.

From Alice To Bob: The Patent Eligibility Of Blockchain In A Post-Cls Bank World, Antonio M. Dinizo

Journal of Law, Technology, & the Internet

Every year the World Economic Forum publishes a list of the top ten emerging technologies. This list of breakthrough technologies has included 3-D printing, self-healing biomimicry materials, and human microbiome therapeutics. In 2016, the financial technology Blockchain dominated the list. Over $1 billion was invested into Blockchain technology and major financial firms are actively exploring Blockchain innovation.

As innovators enter the Blockchain space, they have pushed for patent protection. This Note examines whether Blockchain is patent eligible. Patent eligibility for business methods and software patents is determined under the Supreme Court’s holding in Alice v. CLS Bank. The first section …

Regulating Decentralized Cryptocurrencies Under Payment Services Law: Lessons From The European Union, Asress Adimi Gikay Dr.

Journal of Law, Technology, & the Internet

Several years after the inception of the most dominant cryptocurrency, bitcoin, the European Central Bank in 2015 indicated the need for establishing legal clarity by relevant authorities through explaining how the current legal framework applies to cryptocurrencies. Three years later, no meaningful step has been taken by any of the European Union (EU) institutions including the parliament. By examining the EU’s legal framework governing payments services, including the Single Euro Payment Area (SEPA) Regulation, the Electronic Money Directive, the Payment Services Directive and the proposed AML/CTF Directive, this article concludes that (a) because the existing payment services laws apply to …

Blockchain Technology: An Interconnected Legal Framework For An Interconnected System, Marina Fyrigou-Koulouri

Journal of Law, Technology, & the Internet

In 2018, someone hiding behind the pseudonym Satoshi Nakamoto created Bitcoin, the first decentralized cryptocurrency operating without a central bank or authority. However, the true revolution seems to be its underlying technology; blockchain. Today, a lot of discussion is taking place around the legal issues of this nascent technology. This paper focuses on blockchain and the law. After exploring blockchain’s basic features, it will propose an international regulatory framework suitable for this technology’s characteristics and its borderless nature.

The Commodification Of Cryptocurrency, Neil Tiwari

Michigan Law Review

Cryptocurrencies are digital tokens built on blockchain technology. This allows for a product that is fully decentralized, with no need for a third-party intermediary like a government or financial institution. Cryptocurrency creators use initial coin offerings (ICOs) to raise capital to build their tokens. Cryptocurrency ICOs are problematic because they do not fit neatly within either of two traditional categories—securities or commodities. Each of these categories has their own regulatory agency: the SEC for securities and the CFTC for commodities. At first blush, ICOs seem to be a sale of securities subject to regulation by the SEC, but this is …