This is Part 1 of a seven-part series of posts looking at some broad legal issues affecting crypto-currencies.
DLT vs Territorial Law.
Fiat currencies have declared value stemming from governmental regulation. And "governments" typically are territorial jurisdictions, exercising the fundamentally territorial concepts of law and regulation.
Cyber-currencies function on the blockchain, a distributed ledger technology ("DLT"). Because DLT is - and fundamentally must be - decentralized and distributed, it defies conventional notions of, and structures for, the ...
A distributed ledger often referred to as blockchain or distributed ledger technology ("DLT"), has a wide variety of potential uses and is currently being touted as a helpful tool for tracking financial transactions such as issuing and trading stock. Nonetheless, the nature of DLT raises some interesting jurisdictional questions and concerns.
At its core, a distributed ledger is a digital transaction record that is shared with multiple computers (also known as nodes) on a decentralized network. Distributed ledgers are often promoted as being almost immutable because the ...