Law Commons^™

The Influencers: Facebook’S Libra, Public Blockchains, And The Ethical Considerations Of Centralization, Michele Benedetto Neitz

Publications

The theoretical promise of blockchain technology is truly extraordinary: a peer-to-peer distributed immutable ledger that could revolutionize economies, societies, and even our daily lives. But what if blockchain technology is not as decentralized as people think? What are the ramifications if, in reality, a blockchain’s core decisions are actually influenced by small groups of people or corporations?

This short article seeks to answer that question, by demonstrating that decentralized public blockchains are only as immutable as the decentralization of their governance. Moreover, the announcement of Libra, Facebook’s new permissioned blockchain, shows a growing trend of centralized control around decentralized technologies. …

Securing Mobile Technology & Financial Transactions In The United States, Eleanor Lumsden

Publications

One of the paradoxes of modern life is the conflict between convenience and security. Advances in technology simultaneously usher in progress and pain. The development of mobile and smartphone technology will have a significant positive impact on financial transactions and the average consumer’s access to financial services. Nevertheless, there are several reasons to secure mobile technology and financial transactions in the United States. First, cell phones increase the risk to personal security and most U.S. wireless carriers are using outdated encryption technology. Second, many cell phone users are more concerned with convenience—caring more about the availability and functionality of smartphone …