As we head toward 2020, expect significant public debate relating to smartphone applications designed to increase turnout and participation in upcoming elections. The Democratic Party has dipped its toe in the water, announcing in July plans to allow telephone voting in lieu of appearing for neighborhood caucus meetings in the key early primary states of

United American Corp., operating as UnitedCorp, filed a lawsuit in the United States District Court for the Southern District of Florida last Thursday alleging that several prominent figures in the Bitcoin cryptocurrency market essentially “hijack[ed] the Bitcoin Cash network” causing widespread harm to U.S. Bitcoin holders. In the twenty-seven page, and one hundred and twenty-two paragraph complaint, UnitedCorp takes aim at bitcoin miner Bitmain Inc. and its owner Jihan Wu, well-known bitcoin investor Roger Ver and his company Bitcoin.com, and the Kraken Bitcoin Exchange, among others, claiming that they attempted to “centraliz[e] what is intended to be a decentralized transactional system enabling the corruption of the democratic and neutral principles of the Bitcoin Cash network.” 
Continue Reading Bitcoin Firm Alleges Manipulation of the Bitcoin Cash Network that is Alleged to Have Resulted in a $4 Billion Industry Meltdown

Last month, the French data protection authority (the CNIL) issued initial guidance addressing issues that applications utilizing blockchain technology should consider in order to comply with the European General Data Protection Regulation (GDPR).

As recognized by the CNIL, there are certain natural conflicts between GDPR and blockchain technology. A critical feature of the blockchain is its immutability – the fact that once information is entered into the public ledger regarding a transaction, that information cannot be changed or removed from the ledger. The benefits of providing a transparent and permanent public ledger will have to be reconciled with the data subject rights granted by GDPR, including the right to be forgotten and principles of data minimization. Blockchain applications also raise thorny questions about whether participants in the network are acting as data controllers or processors, subject to the GDPR’s requirements. Additionally, how can a worldwide network of computers involved in data processing activities comply with GDPR requirements related to cross-border data transfers outside of the EU?
Continue Reading French Data Protection Authority Issues Guidance on Interaction of Blockchain Technology with GDPR

Proponents of blockchain technology, the distributed ledger system underlying bitcoin and other cryptocurrencies, view the technology’s applications as potentially offering significant efficiencies to the provision of government services. Two pilot projects currently underway are geared toward exploring the technology’s potential in two key areas of services provided by state and local governments: real property recording

In an effort to promote the development of new financial technology (fintech) products, Mick Mulvaney, Acting Director of the Consumer Financial Protection Bureau (CFPB), announced last week the creation of the Office of Innovation. Mulvaney said the new division, to be run by Paul Watkins under the umbrella of the CFPB, is designed to foster

Add Connecticut, Ohio and Vermont to the list of states passing legislation focused on the potential disruptive impact of blockchain – the technology underlying cryptocurrencies such as Bitcoin. As federal regulators continue to monitor and offer guidance in the cryptocurrency space, with particular focus on Initial Coin Offerings (ICOs), state legislatures around the country are

While many traditional financial institutions hesitate to embrace cryptocurrencies such as bitcoin, a recent news report suggests that Fidelity Investments, the fourth largest U.S. asset manager, is looking to enter the fray. Business Insider reported last week that Fidelity has posted internal job listings for systems engineers “to help engineer, create, and deploy a digital

In the decades that followed the enactment of the Homestead Act of 1862, more than 1.6 million U.S. citizens and intended citizens filed applications with the U.S. government to lay claim to 160 acres of land guaranteed to each applicant willing to settle, farm and improve the lands.

Settlers quickly encountered a major problem. The