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Articles 1 - 8 of 8
Full-Text Articles in Law
Tragedy Of The Energy Commons: How Government Regulation Can Help Mitigate The Environmental And Public Health Consequences Of Cryptocurrency Mining, Jeff Thomson
Seattle Journal of Technology, Environmental & Innovation Law
The use of cryptocurrencies in daily life has continued to rise over the last decade and shows no signs of slowing down. Although cryptocurrencies, such as Bitcoin, provide numerous tangible benefits to society, the process of mining these cryptocurrencies is extremely energy intensive. Accordingly, a tragedy of the energy commons has resulted whereby the monetary incentive to mine cryptocurrencies has distorted our collective ability to care for our shared energy resources. The current system allows for industrious individuals to set up cryptocurrency mines in regions that have access to plentiful and cheap energy sources, utilize this energy to power their …
Rethinking Mistake In The Age Of Algorithms, Vincent Ooi, Kian Peng Soh
Rethinking Mistake In The Age Of Algorithms, Vincent Ooi, Kian Peng Soh
Research Collection Yong Pung How School Of Law
In our previous note: Cryptocurrencies and Code before the Courts ((2019) 30(3) King’s Law Journal 331 - 337), we discussed the Singapore International Commercial Court (High Court)’s decision in B2C2 Ltd v Quoine Pte Ltd. The case subsequently went on appeal, and the Singapore International Commercial Court (Court of Appeal), by a majority, affirmed the decision of the lower court in Quoine v B2C2 (“Quoine”). The case of Quoine represents the first time an apex court in the Commonwealth has ruled on the applicability of contractual principles to situations involving automated trading software. In our recent case note: Rethinking Mistake …
Rethinking Mistake In The Age Of Algorithms: Quoine Pte Ltd V B2c2 Ltd, Vincent Ooi, Kian Peng Soh
Rethinking Mistake In The Age Of Algorithms: Quoine Pte Ltd V B2c2 Ltd, Vincent Ooi, Kian Peng Soh
Research Collection Yong Pung How School Of Law
Good traders remove emotion from the decision-making process. Automated trading algorithms have enabled this, allowing one to trade round the clock, and without the constant need to monitor one’s investments. But software has gremlins. Given the vast amounts of money involved in such trades, it was only a matter of time before disputes involving automated trading software came before the courts. The decision in Quoine v B2C2 (“Quoine”) represents the first time an apex court in the Commonwealth has ruled on the applicability of contractual principles to situations involving automated trading software.
Cryptocurrencies, Cybersecurity And Bankruptcy Law: How Global Issues Are Globalizing National Remedies, Renato Mangano
Cryptocurrencies, Cybersecurity And Bankruptcy Law: How Global Issues Are Globalizing National Remedies, Renato Mangano
University of Miami International and Comparative Law Review
The market for cryptocurrencies is interspersed with cases of loss, theft and fraud and a new transnational practice in bankruptcy law is emerging whereby cryptocurrency exchanges compensate the injured users on a collective basis. This paper will argue: first, that this trend has transplanted into Asia and Europe the US idea according to which bankruptcy law can be employed to avoid mass litigation; secondly, that this trend has transcended the debate about the characterization of digital assets, including the concerns of those scholars who maintain that digital coins cannot be objects of property; and thirdly that – since this practice …
Libra: A Concentrate Of "Blockchain Antitrust", Thibault Schrepel
Libra: A Concentrate Of "Blockchain Antitrust", Thibault Schrepel
Michigan Law Review Online
Blockchains promise to decentralize the economy, bypassing trusts in favor of decentralized communities. The World Economic Forum predicts that 10 percent of the global gross domestic product will be stored on block-chain by 2027. Gartner further prophesizes that blockchain will create $3.1 trillion worth of business value by 2030. Even if that prediction turns out to be too optimistic, blockchain’s legal implications cannot be neglected.
Trustees’ Investment Duties And Cryptoassets, Hang Wu Tang
Trustees’ Investment Duties And Cryptoassets, Hang Wu Tang
Research Collection Yong Pung How School Of Law
This article considers the legal and practical concerns for trustees regarding cryptocurrencies and other related instruments, which will be referred to as “cryptoassets”. It will briefly introduce the various types of cryptoassets and explore the risks involved when trustees decide to (or not to) invest in these instruments. This article provides a framework on how trustees should approach the issue of cryptoassets.
Smart Contracts And The Limits Of Computerized Commerce, Eric D. Chason
Smart Contracts And The Limits Of Computerized Commerce, Eric D. Chason
Faculty Publications
Smart contracts and cryptocurrencies have sparked considerable interest among legal scholars in recent years, and a growing body of scholarship focuses on whether smart contracts and cryptocurrencies can sidestep law and regulation altogether. Bitcoin is famously decentralized, without any central actor controlling the system. Its users remain largely anonymous, using alphanumeric addresses instead of legal names. Ethereum shares these traits and also supports smart contracts that can automate the transfer of the Ethereum cryptocurrency (known as ether). Ethereum also supports specialized "tokens" that can be tied to the ownership of assets, goods, and services that exist completely outside of the …
Safe Money, John Crawford
Safe Money, John Crawford
Marquette Law Review
This Article provides the first comprehensive survey and evaluation of proposed approaches to the central financial reform issue of our era: making all money held in account form “safe,” or non-defaultable, in the same way a dollar bill cannot default. Financial crises are at core a problem of defaultable money; preventing such crises requires making money safe. The goal is eminently achievable; indeed, a number of plausible proposals have been advanced. The project has two aspects: providing better safe money options and eliminating unsafe money. This Article analyzes safe money approaches and concludes that expanding “base” money—that is, direct claims …