In this fourth installment of our five-part series highlighting the legal issues presented by blockchain, we’ll consider application to the aviation industry. Blockchain has the potential to increase airlines’ profitability by lowering transaction costs as well as improving efficiency and transparency, while simultaneously enhancing customer experiences. As we discussed in the post “Taking Control of … Continue Reading
One of the most intriguing uses of the blockchain may be the enhancement of identity solutions. As we know, the blockchain offers enhancements over current mechanisms for creating and storing digital identities, such as security and resilience built in by design, a greater ability to control the uses of encrypted information, and the ability to … Continue Reading
This week, we will have a five-part series highlighting the legal issues presented by blockchain applications in a number of different industries. Today, we’re looking into the legal considerations of implementing the blockchain in the pharmaceutical industry. Among other benefits, distributed ledger technology can help reduce sales of counterfeit drugs and improve supply chain management, … Continue Reading
An appellate decision from a provincial high court in northeastern China may help to shed some additional light on the Chinese government’s regulation of virtual currency exchanges in China, the anti-money laundering (AML) and know-your-customer (KYC) expectations placed on these exchanges, and the liability that might accrue to exchanges in the event of criminal activity … Continue Reading
Alan Cohn and I talk with Laura Shin on her Unchained podcast about the Blockchain Alliance. We also talk about how crime involving Bitcoin is similar to crime involving any new technology, what genuinely new questions are being raised, and how various law enforcement agencies might think about recent developments like the emergence of the DAO … Continue Reading
The Blockchain Alliance was announced last October. Since then it has grown from about 20 to over 50 members, including digital currency companies, law enforcement groups, and regulatory bodies from all over the world. But what has it been up to?… Continue Reading
Following the attacks in Paris and San Bernardino, polls show that Americans identify terrorism—more than any other issue—as the most important problem facing the US. In this environment, some media outlets have predicted a pending “crackdown” on digital currencies, particularly by European governments, because of the risk that the technology could be used to fund … Continue Reading
In an area that is growing and evolving as fast as FinTech, it’s often difficult to take a step back and take stock of where we are, and where we’re headed. So kudos to CoinDesk, which recently issued its State of Bitcoin report for the second quarter of 2015, its seventh such report since February … Continue Reading
On Thursday, April 23, I spoke at the Bretton Woods Committee seminar, “Digital Payments and Currencies: Global Threat or Opportunity?” The panel discussed the changes digital currencies and payment systems have brought to the market and the disruptive potential of a future in which they may become more conventional. An audio clip of the seminar … Continue Reading
It’s only been about a week since New York’s outgoing Superintendent of Financial Services Ben Lawsky released the long-awaited “BitLicense” rules for digital currency businesses operating in New York, but it’s not too early to try to assess the potential impact of those rules on the development of Bitcoin-related businesses and emerging financial technologies. The … Continue Reading
Last week the IRS announced that Bitcoin would be treated as property, rather than currency, for tax purposes. That means the virtual currency will be subject to very real capital gains taxes when used to make purchases. So is this good or bad for Bitcoin? Well, that depends on whether you view the glass on … Continue Reading
