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Science and Technology Law

2018

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Lessons From Case Study Of Secured Transactions With Bitcoin, Xuan-Thao Nguyen Jan 2018

Lessons From Case Study Of Secured Transactions With Bitcoin, Xuan-Thao Nguyen

Articles

There has been some discussion about the flaws in using secured transactions law, Article 9 of the Uniform Commercial Code (U.C.C.), to govern commercial transactions involving Bitcoins as collateral. Flaws necessitate the urgency of immediately fixing of the existing law. In the case of Bitcoins there is still much to learn about the marketplace for secured transactions with Bitcoins as collateral. The rapid change in technology, the speed of new ideas proposed, the constant announcements of adoption and adaptation of smart contracts in transactions, the volatility in cryptocurrency value, the endless reports of scams, and the rise of dark pools …