Skip to Main Content
Services Talent Knowledge
Site Search
Menu

News

November 28, 2017

Beyond the Bitcoin Crash: Ontario Law Lays a Foundation for Enforceable Smart Contracts

The not-so-smart money has pushed the price of a Bitcoin well above US$6,000. The crash is inevitable. The first-mover "cryptocurrency" is based on an inefficient proof of work model designed for anonymous transactions on a public network. The next generation of blockhain developers, like those working on the Ethereum platform, are less interested in the ideology of anonymous transactions than the practicality of efficient business applications. Corporate adopters like the Enterprise Ethereum Alliance have already noted the pace of migration from anonymous public blockchain networks to a combination of public and permissioned private networks. Since "altcoin" currencies are not based on a commodity value, the profitability of an underlying business or the full faith and credit of a national treasury, the adoption of better designed shared ledger systems is sure to burst the Bitcoin bubble.

Read the full article authored by Barclay Damon partner, Charles von Simson here.

Subscribe

Click here to sign up for alerts, blog posts, and firm news.

Featured Media

Alerts

Federal Judge Halts DOE's Crackdown on Diversity Programs

Alerts

Alternative Dispute Resolution: A Beginner's Guide to Arbitration, Mediation, and Settlement Conferences

Alerts

IRS Guidance Limits the Use of Five Percent Safe Harbor to Low-Output Solar Facilities

Alerts

New York Public Service Commission Denies New York Power Authority Petition to Designate Clean Path Transmission Project a Priority Transmission Project

Alerts

NYS Legislature Seeks to Restrict Time Period for Third-Party Actions

Alerts

United States Department of Justice Issues Antidiscrimination Guidance to Federal Funding Recipients