Blockchain Receipts: Admissible As Evidence Or 'Hearsay'?
One of the benefits of the blockchain is the verification it provides for many types of activities. The rapid settlement of financial transactions is driving the growth of block-chain-based fintech solutions. But blockchain records as legal evidence may not be something that can be taken for granted. James Ching, a contributor to law.com, recently wrote that one key component of the Digital Asset plan (and its competitors) is the fact that the patentability of blockchain-based receipt systems, in particular, the “consensus algorithm,” is in doubt. Ching noted that the key to a commercial....
Related News
A legislative effort in the state of Vermont to recognize blockchain data in the court system is inching closer to completion, and only needs a governor’s signature to become enshrined in law. Buried inside an economic development bill recently passed by both the Vermont House and Senate is legislative language that, if approved, would make it so that "a fact or record" verified through blockchain technology is "authentic". Put more simply, a document notarized using a network like the bitcoin blockchain will have more legal bearing in court. This use case has emerged....
The Silk Road trial of founder Ross Ulbricht in New York is gathering a lot of media attention. Negative attention for any Bitcoin-related issues is not uncommon in the mainstream, but RT America has discovered some issues with the prosecution's case that could easily favor an acquittal for Ross Ulbricht. Screenshots and Hacks are what FBI brings to the Table. Many people are looking closely at the case for the precedents it can set due to how the FBI secured its evidence against Ross Ulbricht. Considering the fact that they hacked the Silk Road website without a warrant to take....
The Moscow Exchange has proposed to legalize the issuance of receipts for digital financial assets. The trading platform says this will allow custodians to offer clients who are not ready for distributed ledgers to essentially work with securities. MOEX also plans to become a licensed crypto exchange operator. Largest Russian Stock Exchange Gears Up to Enter Digital Asset Market The leading exchange for equities and derivatives in Russia has drafted new legislation that would authorize depositories to issue receipts for digital financial assets (DFAs). In current Russian law, the broad....
Back in August 2013, Reuters revealed that the DEA was receiving information from the NSA about suspects who had no connection to terrorism. Worse still, the NSA then gave tips to the DEA on how to hide that fact from the entire justice system, including judges and defense attorneys. How a law enforcement agency obtains its evidence is key to trials in America. The technique is called “parallel construction” but a more accurate name would be “evidence fabrication” and the report was concerning to anyone who cares if our justice system has any shred of justice in it. If law enforcement lies....
Considering how only a handful of “trusted” people have seen this signing in person, it does not lend much credibility to any of these claims for the time being. One of the biggest mysteries in the world of Bitcoin and cryptocurrency has been solved, as Satoshi Nakamoto is none other than Dr. Craig Wright. Or that is what everyone would like us to believe, even though most of the information is based on hearsay and not actual verifiable proof. Will the Real Satoshi Nakamoto Please Stand Up? Although it is not the first time the name of Dr. Craig Steven Wright comes up in the search for....