Friday, October 27, 2017

Brief Survey of Blockchain Related Lawsuits


As noted in the article, we have yet to see much in the way of actual disputes over the technology itself, but instead we find your more run of the mill contract disputes wherein the contract was related to Blockchain (or, more likely, Bitcoin) performance.

While there isn't a lot here on the Smart Contract side of things, it is interesting to see how the public nature of blockchain based databases, as well as the strong consensus as to the veracity of the records, did come up in quite a few of the cases. 


If nothing else, hopefully blockchain will be able to lift the fog of fear surrounding electronic contracting and business. If we were dealing with standard hard currency, a victim of a fraudulent transfer will never be able to know where the money actually went and has almost no chance of recovery. In cases involving bitcoin, there is at least a public ledger that clearly documents the fraudulent transfer.

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