Words from the Editor

We seemed to get a pretty good reception to the brief summary of this week's issue, so we're going to continue with that this week. Please hit reply if you have any questions or comments.

This week was International Blockchain Week, which included Devcon 2, all about Ethereum. At the event, Wanxiang announced the use of the blockchain in its $30 billion smart city that it is developing. Also at the event, Santander revealed that it would be build Cash ETH on Ethereum to create a convertible cash-token.

There were a series of other demos and concepts revealed separate of Blockchain Week, but the big news had to do with Accenture wanting to release an editable blockchain. Many questioned why even launch a blockchain and suggested they just create a really messy Excel spreadsheet. It's something I've said many times before, but what's the point if the ledger is not immutable?

The big news on the regulatory front was the nonbinding resolution in the U.S. House of Representatives to "encourage the development of tools for consumers to learn and protect their assets" which is all about blockchain technology. But bitcoin advocates want to see miners and multisig wallet providers grouped in any protection that the House passes.

But the real question remains: Is Bitcoin money? A judge in Florida says no, but a judge in New York says yes. At some point, the government will need to make a proclamation about whether bitcoin is, in fact, money. And with ransomware on the rise, does this mean that regulators may look to come down a little harder on this new money?

That about sums up this week's newsletter. Keep scrolling to see the latest news in the blockchain and bitcoin space. Thanks for reading!

Jacob C Donnelly




Law & Regulation