Blockchain for business lawyers /
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| Imprint: | Chicago : American Bar Association, Section of Science & Technology Law, ©2018. |
|---|---|
| Description: | xix, 265 pages : illustrations ; 23 cm |
| Language: | English |
| Subject: | |
| Format: | Print Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/11686813 |
Table of Contents:
- About the Editors and Chapter Authors
- Foreword
- Preface and Editors' Acknowledgments
- Chapter 1. Introduction to Blockchain Technology
- 1. Bitcoin and the Origin of Blockchain Technology
- a. The Role of Digital Signatures
- b. The Double-Spending Problem
- c. Achieving Consensus through Proof of Work
- d. The Robustness of the Blockchain
- e. Pseudonymity
- f. Forks
- 2. Blockchain beyond Bitcoin
- a. Currencies and Payment Systems
- b. Distributing the Ledger
- c. Blockchain Computing
- d. Permissioned Blockchains
- e. Platforms for Permissioned Blockchains
- f. Hybrid Chains
- 3. Blockchain for Business: Advantages and Disadvantages
- a. Advantages
- b. Disadvantages
- 4. Conclusion
- Chapter 2. Cryptocurrencies, Initial Coin Offerings, and Financial Regulations
- 1. Cryptocurrencies
- a. How Do We Define Virtual Currency?
- b. How Do We Define Cryptocurrency?
- c. How Do We Define Coins and Tokens?
- 2. Initial Coin Offerings
- a. What Is an ICO?
- b. What Are Some Significant ICOs?
- 3. Other Financial Blockchain Applications
- a. Securities
- b. Derivatives
- c. Financial Services
- 4. Securities Laws and Regulations
- a. Federal Securities Laws
- b. The Definition of "Security" and the Howey Test
- c. SEC Enforcement Actions
- d. Other SEC Guidance
- e. Private Securities Litigation Related to ICOs
- f. Capital Raising Implications
- g. State Enforcement and Blue Sky Laws
- 5. Commodities Laws and Regulations
- a. The Commodity Exchange Act
- b. CFTC Enforcement Actions
- c. Other CFTC Guidance
- 6. Tax Laws and Regulations
- 7. Appendix
- Chapter 3. Smart Code and Smart Contracts
- 1. Smart-Contract Platforms
- a. Third-Party Platform
- b. Counterparty Platform
- c. Peer-to-Peer Platform
- d. Counterparty-to-Counterparty Platforms
- e. Permissionless Platforms
- f. Other Platforms
- 2. Ramifications of Smart-Contract Platforms
- a. Role of Platform as Intermediary
- b. Risk of Platform Security Breaches
- c. Risk of Mistake in Smart Code
- d. Cost of Executing Smart Contracts
- e. Risk of Platform Insolvency (and Lack of Portability)
- f. Regulatory Risks
- 3. Enforceability, Performance, and Termination of Smart Contracts
- a. General Application of Contract Law
- b. Enforceability
- c. Performance
- d. Terminating or Amending "Immutable" Smart Contacts
- 4. Dispute Resolution of Smart Contracts
- a. Governing Language
- b. Specialist Courts
- c. Arbitration
- d. Dispute Resolution Services
- 5. Conclusion
- Chapter 4. Blockchain Technology, Security, and Privacy
- 1. Data Security and the Blockchain
- a. Existential Threats
- b. Ordinary Threats
- 2. Data Privacy and the Blockchain
- 3. Legal Consequences
- a. Civil Liability
- b. Criminal Liability
- 4. Conclusion
- Chapter 5. Antitrust Regulation and Blockchain Technology
- 1. Antitrust Framework: Formation and Operation of Blockchain
- a. Sherman Act Section 1
- b. Sherman Act Section 2
- c. Section 5 of the FTC Act
- d. Clayton Act Section 7
- 2. Key Antitrust Issues for Blockchain
- a. Collusion
- b. Improper Information Exchanges
- c. Excluding Rivals
- 3. Conclusion
- Chapter 6. Cryptocurrencies and the Regulation of Money Transmission
- 1. Federal Regulation of Money Transmitters
- a. The Bank Secrecy Act and FinCEN
- b. Money Transmitters
- c. FinCEN's Rules in the Virtual Currency Context
- d. Registration and Compliance
- e. Enforcement and Liability
- f. Additional Regulatory Considerations
- 2. State Regulation of Money Transmitters
- a. State Money Transmitter Acts
- b. The Uniform Regulation of Virtual-Currency Businesses Act
- c. New York
- d. California
- 3. International Regulatory Considerations
- 4. Conclusion
- Chapter 7. State Laws Addressing Blockchain Technology
- 1. State Laws Governing the Use of Blockchain in Corporate Records, Including the Stock Ledger
- a. Delaware-Authorizing Corporate Recordkeeping by Blockchain
- b. Wyoming-Authorizing Corporate Recordkeeping by Distributed or Electronic Records
- c. Arizona-Authorizing Blockchain as a Writing for Purposes of the Corporation Law
- 2. State Laws Governing Smart Contracts and Blockchain as Electronic Records
- a. Vermont-Making Blockchain Records Self-Authenticating and Admissible
- b. Arizona-Authorizing Blockchain Signatures as Electronic Records and Authorizing Smart Contracts
- c. Nevada-Authorizing Blockchains as Electronic Records
- 3. State Laws Governing Virtual Currency, Money Transmission, and Money Laundering
- a. New York-Regulating Virtual Currency by Licensing
- b. Wyoming-Exempting Virtual Currency from Money Transmission Laws and Property Taxation, Exempting Utility Tokens from State Securities Laws, and Fostering Blockchain Business Through a New Form of LLC
- c. California-Legislative Attempts
- d. New Hampshire-Exempting Virtual Currency from Money Transmitter Registration Requirements
- e. Many States in the Middle-Enacting Virtual-Currency Laws or Adding New Regulatory Guidance
- 4. State Government Task Forces and Initiatives
- a. Delaware Blockchain Initiative
- b. Illinois Initiatives
- c. Vermont Blockchain Studies
- d. Arizona "Sandbox"
- 5. Conclusion-A Word About the Future
- Chapter 8. Disputes, Liability, and Jurisdiction in the Blockchain Era
- 1. Identifying and Allocating Risk and Responsibility from the Use of Blockchain Technology
- a. Blockchain Participants
- b. Means of Resolving Disputes Arising from the Use of Blockchain Technology
- 2. National and State Jurisdiction Issues Arising from Blockchain Use
- a. Traditional Ideas of Jurisdiction
- b. Assumptions of Traditional Judicial Jurisdiction That May Not Be Present for Blockchain
- c. Options to Address Jurisdictional Concerns
- 3. Enforcement of Court Judgments in Blockchain Disputes
- a. Recognition and Enforcement of Foreign Judgments in U.S. Courts
- b. Recognition and Enforcement of U.S. Judgments in Foreign Courts
- c. Application to Blockchain Technology
- Table of Cases
- Index
