Blockchain and the Law

Category Archives: Cybersecurity

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Is Blockchain Technology Compatible with GDPR? French Data Protection Regulator Provides Guidance

Uncertainty regarding the compatibility of blockchain technology and the European Union’s General Data Protection Regulation (GDPR) has often been highlighted as a potential obstacle to the development and widespread implementation of blockchain systems involving personal data. To address tensions between blockchain technology and the GDPR, Commission Nationale de l’Informatique et des Libertés (CNIL), the French … Continue Reading

Smart Contract Bug Leads Exchanges to Halt ERC-20 Token Trading

When a smart contract coding vulnerability resulted in the Parity wallet “freeze” that compromised over $150 million worth of user funds, we discussed the pitfalls of unsecure code in the context of cryptoassets and the extent to which software developers might be held liable to their users for losses arising from mistakes in, or the … Continue Reading

Blockchain Digital Assets in Virtual Reality, Video Games and eSports – Ready Lawyer One?

Virtual worlds similar to the OASIS in Steven Spielberg’s upcoming film Ready Player One may be closer than we think – and provably scarce, blockchain-based digital assets could provide the leap forward that gets us there. Already, developers are testing early implementations. Since CryptoKitties launched at the end of 2017, promptly causing a traffic jam … Continue Reading

Colorado Senate Bill Proposes Utilizing Blockchain Technology to Improve State Government’s Operations and Cybersecurity

The Colorado Senate is considering a bill to utilize blockchain or other distributed ledger technology for a variety of purposes, including to improve the state government’s operations and cybersecurity. Senate Bill 18-086 (which was introduced on January 16, 2018) focuses on exploring a number of “transformative improvements” that distributed ledger technologies can offer to state … Continue Reading

When Smart Contracts are Outsmarted: The Parity Wallet “Freeze” and Software Liability in the Internet of Value

The recent Parity wallet “freeze” provides yet another example of a coding vulnerability in a smart contract (rather than a flaw in the underlying blockchain or cryptography) resulting in an exploit that compromises cryptocurrency worth millions. It again highlights some of the pitfalls of insecure code in the context of digital assets and raises questions … Continue Reading

Blockchain and Quantum Computing

2018 promises great inroads in the realm of “quantum computing.”  While conventional computers use binary data or bits (i.e., 0s and 1s) to store and process information (a bit can either store a 0 or 1), a quantum computer operates based on the laws of quantum mechanics and uses quantum bits or “qubits,” which can … Continue Reading

Blockchain and Privacy

Discussions about “blockchain” technology seem to be everywhere these days, with potential applications spanning industries as diverse as banking, healthcare, real estate, law enforcement, entertainment, and even wine and jewelry sales. Different applications of blockchain present different and unique challenges and opportunities for data security and privacy, but there are three general categories currently preoccupying legal … Continue Reading
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