Bitcoin Set To Transform the Courtroom
The cost of litigation in the United States is completely out of control. Not only does litigation cost the tax payers, who have to pay for wasted court time, but it also costs businesses who have to overspend on insurance to protect their assets from litigation, which is passed on to the consumers, leaving taxpayers with a double bill. The great mass of litigation in the United States and Great Britain center around two fundamental issues: Contract disputes and non-payment. The rest usually revolve around negligence claims in one form or another. Interestingly enough it turns out that....
Related News
It seems Judge Judy had an eBay scam to deal with on her show, and it involved Bitcoin. While talking with the prosecuting party, she wants to know all about the case, and she heard from the defendant something about Cryptocurrency. This “Bitcoin” she says is something you could talk for a day about, and she wouldn’t have a clue. The snippy TV Judge has....
Alleged Silk Road mastermind Ross Ulbricht's trial began this morning in a New York City courtroom, where he faces life in prison for accusations that he managed and operated the now-infamous online black market under the pseudonym Dread Pirate Roberts. Ulbricht entered the courtroom in the US District Court for the Southern District of New York at 09:20 local time with his legal team led by attorney Joshua Dratel by his side. He faces four narcotics charges and three charges related to computer hacking, trafficking fraudulent identification documents and money laundering conspiracy,....
Who really understands what a blockchain is? Could you explain it to your mother? Chain CEO Adam Ludwin got down to fundamentals yesterday, as he explained his company’s intention to transform financial services by digitizing already-existing assets. Ludwin spoke on a Tuesday afternoon panel with at the Money 20/20 Conference in Las Vegas. Blockchains Transform Finance From the Bottom Up. Assets including U.S. dollars and Starbucks points could move on blockchains with greater efficiency and security, he said. “A blockchain is actually a new type of database,” he said, adding that it’s a....
An odd courtroom drama played out at the Hastings District Courtroom in New Zealand today. The judge-only trial involved a 95-year-old WW II veteran and a 48-year old American migrant promising returns on investment with bitcoins exchanged from the veteran’s £10,000 RAF pension fund. As reported by regional publication Stuff, local police alleged that Roy Toler, a 48-year-old American migrant in New Zealand had taken the pension funds belonging to 95-year-old Geoff Bibby, a Lancaster Bombers navigator of the Royal Air Force during World War II, to invest them into bitcoins without the....
Greg Medcraft, Chairman, Australian Securities and Investments Commission (ASIC) in a speech at Carnegie Mellon University underlined the importance of blockchain and how they can transform the capital market. In the speech, he cited four main points that he said, proved that blockchain has the capacity to help transform the capital market. Continuing in the same vein, the Chairman said that blockchain stands for efficiency and speed and has in it the potential to automate the financial system which will cut down the time duration that is needed for transactions. Secondly, he mentioned....