Blockchain Economics | Markus K. Brunnermeier

blockchain | economics | papers | people | Research Notes

When is record-keeping better arranged through distributed ledger technology (DLT) than through a traditional centralized intermediary? The ideal qualities of any record-keeping system are (i) correctness, (ii) decentralization, and (iii) cost efficiency. We point out a \textit{Blockchain Trilemma}: no ledger can satisfy all three properties simultaneously. A centralized ledger writer extracts rents due to its monopoly on the ledger. Its franchise value dynamically incentivizes honest reporting. Decentralized ledgers provide static incentives for honesty through computationally expensive Proof-of-Work algorithms but eliminate rents through “fork competition.” Portability of information between “forks” and competition among miners fosters competition among decentralized ledgers that is fiercer than traditional competition. However, fork competition can engender instability and miscoordination. While blockchains can keep track of ownership transfers, enforcement of possession rights is still needed in many blockchain applications.

Source: Blockchain Economics | Markus K. Brunnermeier

Law As Computation in the Era of Artificial Legal Intelligence. Speaking Law to the Power of Statistics by Mireille Hildebrandt :: SSRN

blockchain | justice | law | papers | people | Research Notes

Mireille Hildebrandt

Vrije Universiteit Brussel; Radboud University

Date Written: June 7, 2017

Abstract

The idea of artificial legal intelligence stems from a previous wave of artificial intelligence, then called jurimetrics. It was based on an algorithmic understanding of law, celebrating logic as the sole ingredient for proper legal argumentation. However, as Holmes noted, the life of the law is experience rather than merely logic. Machine learning, which determines the current wave of artificial intelligence, is built on a data-driven machine experience. The resulting artificial legal intelligence may be far more successful in terms predicting the content of positive law. In this article, I discuss the assumptions of law and the rule of law and confront them with those of computational systems. As a twin paper to my Chorley lecture on Law as Information, this should inform the extent to which artificial legal intelligence provides for responsible innovation in legal decision making.

Diar – Forward Outlook Digital Assets & Regulation Newsletter

papers | regulation | Research Notes

The Weekly Analytical Publication onDigital Currency, Assets, Payments & Regulation Diar provides concise coverage and analysis of significant developments within the global digital currency industry. This information service delivers the expert insight critical for informed decision making within the constantly evolving global finance & regulatory environment.

Source: Diar – Forward Outlook Digital Assets & Regulation Newsletter

Cloud Communities: The Dawn of Global Citizenship? – Globalcit

applications | certificate | critique | data protection | decentralization | EU policy | identity | issues/conflicts | law | opinion | papers | related_projects | Research Notes

Contents:
Cloud Communities: The Dawn of Global Citizenship?, kickoff contribution by Liav Orgad
Citizenship in Cloud Cuckoo Land?, by Rainer Bauböck
Citizenship in the Era of Blockchain-Based Virtual Nations, by Primavera De Filippi
Global Citizenship for the Stay-at-Homes, by Francesca Strumia
A World Without Law; A World Without Politics, by Robert Post
Virtual Politics, Real Guns: On Cloud Community, Violence, and Human Rights, by Michael Blake
A World Wide Web of Citizenship, by Peter J. Spiro
Citizenship Forecast: Partly Cloudy with Chances of Algorithms, by Costica Dumbrava
The Separation of Territory and State: a Digital French Revolution?, by Yussef Al Tamimi
A Brave New Dawn? Digital Cakes, Cloudy Governance and Citizenship á la carte, by Jelena Dzankic
Old Divides, New Devices: Global Citizenship for Only Half of the World, by Lea Ypi
Escapist technology in the service of neo-feudalism, by Dimitry Kochenov
Cloud communities and the materiality of the digital, by Stefania Milan
Cloud Agoras: When Blockchain Technology Meets Arendt’s Virtual Public Spaces, by Dora Kostakopoulou
Global Cryptodemocracy is Possible and Desirable, by Ehud Shapiro
The Future of Citizenship: Global and Digital. A Rejoinder, by Liav Orgad

Stanford Journal of Blockchain Law & Policy vol1 issue 1

papers | related_projects | Research Notes

Cryptocurrency and the Shifting IRS Enforcement Model

by Dashiell C. Shapiro, Partner with Wood LLP, previously a Trial Attorney with the U.S. Department of Justice Tax Division
Jun 23, 2018

D
Given the IRS’s steady shift to a more holistic tax enforcement approach, the Author believes that the IRS is likely to take a broad-based approach to cryptocurrency tax enforcement.

Essays

Hard Forks on the Bitcoin Blockchain: Reversible Exit, Continuing Voice

by Jeffery Atik, Professor at Loyola Law School, Los Angelesand George Gerro, JD, Loyola Law School, Los Angeles
Jun 23, 2018

J
G
Hirschman’s Exit/Voice conception shines explanatory light on stakeholder responses in firms and states in moments of decline. We apply it here to the Bitcoin blockchain, where it illuminates strange and unencountered qualities of the reactive choices open to varied stakeholders.

Initial Coin Offerings: The Top 25 Jurisdictions and their Comparative Regulatory Responses (as of May 2018)

by Wulf Kaal, Professor at University of Saint Thomas School of Law, Director of the Private Investment Funds Institute, Minneapolis
Jun 23, 2018

W
The Author codes the regulatory responses of the top 25 ICO jurisdictions in the world and provides a comparative analysis of their respective regulatory actions.

Data Governance in the Digital Age | Centre for International Governance Innovation

decentralization | governance | papers | people | regulation | Research Notes

Data is being hailed as “the new oil.” The analogy seems appropriate given the growing amount of data being collected, and the advances made in its gathering, storage, manipulation and use for commercial, social and political purposes.Big data and its application in artificial intelligence, for example, promises to transform the way we live and work — and will generate considerable wealth in the process. But data’s transformative nature also raises important questions around how the benefits are shared, privacy, public security, openness and democracy, and the institutions that will govern the data revolution.The delicate interplay between these considerations means that they have to be treated jointly, and at every level of the governance process, from local communities to the international arena. This series of essays by leading scholars and practitioners, which is also published as a special report, will explore topics including the rationale for a data strategy, the role of a data strategy for Canadian industries, and policy considerations for domestic and international data governance.

Source: Data Governance in the Digital Age | Centre for International Governance Innovation

#Blockchain4EU: Blockchain for Industrial Transformations – European Commission

applications | blockchain | EU policy | papers | people | related_projects | Research Notes

The project #Blockchain4EU is a forward looking exploration of existing, emerging and potential applications based on Blockchain and other DLTs for industrial / non-financial sectors. It combined Science and Technology Studies with a transdisciplinary policy lab toolbox filled with frameworks from Foresight and Horizon Scanning, Behavioural Insights, or Participatory, Critical and Speculative Design. Amid unfolding and uncertain developments of the Blockchain space, our research signals a number of crucial opportunities and challenges around a technology that could record, secure and transfer any digitised transaction or process, and thus potentially affect large parts of current industrial landscapes. This report offers key insights for its implementation and uptake by industry, businesses and SMEs, together with science for policy strategic recommendations.

Source: #Blockchain4EU: Blockchain for Industrial Transformations – European Commission