
Blockchain and the Law
The Rule of Code
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Narrated by:
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Teri Schnaubelt
Since Bitcoin appeared in 2009, the digital currency has been hailed as an Internet marvel and decried as the preferred transaction vehicle for all manner of criminals. It has left nearly everyone without a computer-science degree confused: Just how do you "mine" money from ones and zeros?
The answer lies in a technology called blockchain, which can be used for much more than Bitcoin. A general-purpose tool for creating secure, decentralized peer-to-peer applications, blockchain technology has been compared to the Internet itself in both form and impact. Some have said this tool may change society as we know it.
Blockchains are being used to create autonomous computer programs known as "smart contracts", to expedite payments, to create financial instruments, to organize the exchange of data and information, and to facilitate interactions between humans and machines. The technology could affect governance itself by supporting new organizational structures that promote more democratic and participatory decision making.
Primavera De Filippi and Aaron Wright acknowledge this potential and urge the law to catch up. That is because disintermediation - a blockchain's greatest asset - subverts critical regulation. By cutting out middlemen, such as large online operators and multinational corporations, blockchains run the risk of undermining the capacity of governmental authorities to supervise activities in banking, commerce, law, and other vital areas.
De Filippi and Wright welcome the new possibilities inherent in blockchains. But as Blockchain and the Law makes clear, the technology cannot be harnessed productively without new rules and new approaches to legal thinking.
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©2018 The President and Fellows of Harvard College (P)2018 TantorListeners also enjoyed...




















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Very complete
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Too many words
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Big on concepts, big picture, fundamentals
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A Good Overview of The Future
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The term "blockchain technology" refers to a cryptographic encryption method which links hashed data in a consecutive manner, while the term "blockchain" by itself refers to a decentralized, open, public ledger that makes use of the aforementioned cryptographic implementation to time-stamp and secure transaction records. The latter implementation, which was introduced with the launch of the Bitcoin blockchain, is sometimes also (unnecessarily) referred to as public blockchain. The decentralization component of (public) blockchains makes transactions recorded in these types of ledgers extremely difficult to reverse. The necessary open collusion by a majority of network participants is unlikely to occur as the resulting distrust in the network would erode the colluding parties’ investment in computing power and/or allocation of virtual assets (stakes) in the blockchain needed for the manipulation to begin with. Because of these features, blockchains are also referred to as "trust-less networks," and the recorded transaction are considered immutable, a quality which enables peer-to-peer transactions of blockchain-native assets (coins) and digital assets created on a public blockchain via qualified smart contract.
It is also not helpful to view blockchains as databases or ledgers for that matter. The latter function is optional and not needed (and actually harmful) for most applications.
Most importantly, the authors fail to appreciate the state of money as legacy technology and the underlying problems currencies solve.
Fundamental errors in understanding the technology
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Loved the narrator
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Solid overview of the whole convergenceof law and
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Great introduction for not technical people.
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