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Section 1. Understanding blockchain: The truth about blockchain: it will take years to transform business, but the journey begins now / Marco Iansiti and Karim R. Lakhani -- A brief history of blockchain: it's come a long way in 10 years / Vinay Gupta -- The blockchain will do to the financial system what the internet did to media: what we can learn from the evolution of another groundbreaking technology / Joichi Ito, Neha Narula, Robleh Ali -- Who controls the blockchain: no one, and everyone, by design / Patrick Murck -- How safe are blockchains? it depends: the security issues are different in public and private networks / Allison Berke -- What blockchain can't do: someone needs to verify the link between digital records and physical objects / Catherine Tucker and Christian Catalani -- Section 2. Blockchain and business: How blockchain is changing finance: it could reduce friction and costs / Alex Tapscott and Don Tapscott -- As cryptocurrencies rise, who needs banks?: it's a tough time to be a middleman / Antonio Fatás and Beatrice Weder di Mauro -- The hidden costs of initial coin offerings: ICOs are often at odds with how risky ventures are usually funded / Jeffrey Bussgang and Ramana Nanda -- Global supply chains are about to get better, thanks to blockchain: we'll be able to track goods between companies and across borders / Michael J. Casey and Pindar Wong -- What blockchain means for the sharing economy: the role of platforms will become less important / Primavera De Filippi -- How blockchain can help marketers build better relationships with their customers: for one, the technology can cut down on spam and fraud / Campbell R. Harvey, Christine Moorman, and Marc Toledo -- Blockchain could help artists profit more from their creative works: movie studios and record companies should take note / Don Tapscott and Alex Tapscott -- Section 3. The future of blockchain: Does your idea actually require blockchain?: what Chinese #MeToo activism teaches us about data integrity / Catherine Tucker and Yudan Pang -- How regulation could help cryptocurrencies grow: entrepreneurs sit on the sidelines for fear of innocently running afoul of the law / Stephen J. Obie and Mark W. Rasmussen -- Using blockchain to keep public data public: information is under attack / Brian Forde -- Blockchain will help us prove our identities in a digital world: and the benefits will accrue to all rungs of society / Michael Mainelli -- Making cryptocurrency more environmentally sustainable: in one year, blockchain activity used more power than 159 individual nations / Marc Blinder.

Blockchain has become an increasingly significant component within FinTech, and is only going to grow in importance in the way it disrupts and challenges the traditional financial services industry. Many financial institutions are already starting to invest in this technology, implementing blockchains as distributed ledgers to revolutionise the way information is stored and transactions occur. Banks are of course eager to stay competitive, and therefore need to further explore their options with regard to how they can make the most of this technology and where the business value might lie. The goal of this book is to provide financial markets colleagues with not only a broad overview of blockchain technology and what it means for financial markets and the economy in the future, but also the foundational knowledge they will need to be part of this future

Following the catastrophic events of the 2008 global financial crisis, an anonymous hacker released Bitcoin to claw back power from commercial and central banks. Its underlying architecture, blockchain, is now championed for delivering a decentralised global economy - a world free from hierarchy and control. This text shatters these emancipatory claims by revealing acute geographies of power that lie behind blockchain networks. Drawing on first-hand experience in cryptocurrency communities and start-up companies from Silicon Valley to London, Jack Parkin untangles the complex web of culture, politics, and economics that truly drive decentralisation.

The book highlights the rise of Bitcoin, which is based on blockchain technology, and some of the many types of coins and tokens that emerged thereafter. Although Bitcoin and other cryptocurrencies have made national and international news with their dramatic rise and decline in value, nevertheless the underlying technology is being adopted by both industry and governments, which have noted the benefits of speed, cost efficiency, and protection from hacking. Based on numerous downloaded articles, laws, cases, and other materials, the book discusses the digital transformation, the types of cryptocurrencies, key actors, and the benefits and risks. It also addresses legal issues of digital technology and the evolving U.S. federal regulation. The varying treatment by individual U.S. states is reviewed together with attempts by organizations to arrive at a uniform regulatory regime. Both civil and criminal prosecutions are highlighted with an examination of the major cases that have arisen. Whether and how to tax cryptocurrency transactions both in the U.S. and internationally are analyzed, and ends with a speculative narrative of future developments.

This edited collection offers a number of contributions from leading scholars investigating Blockchain and its implications for business. Focusing on the transformation of the overall value chain, the sections cover the foundations of Blockchain, its drivers and barriers, business modelling and a range of examples from industry. Using a number of theoretical and methodological approaches, this innovative publication aims to further the cause of this ground-breaking technology and its use within information technology, supply chain and wider business management research.

Blockchain technology enables the creation of decentralized currencies, decentralized applications powered by smart contracts, self-executing digital agreements, and intelligent assets that can be controlled over the Internet. Blockchains also enable the development of new governance systems with more democratic or participatory decision-making, and decentralized (autonomous) organizations that can operate over a network of computers without any human intervention. These applications have led many to compare the blockchain to the Internet, with accompanying predictions that this technology will shift the balance of power away from centralized authorities in the field of communications, business, and even politics or law. Blockchain and the Law explores the benefits and drawbacks of this emerging decentralized technology and argues that its widespread deployment will lead to expansion of what we term lex cryptographia: rules administered through self-executing smart contracts.--

Blockchain technology may have first emerged with bitcoin but its significance extends far beyond the financial sector: it is ushering in a whole new techno-economic paradigm. This book provides the first critical, in-depth examination of blockchain's transformative impact on the creative industries, including music, media, art and gaming. Drawing on interviews with 10 leading start-ups and a comprehensive review of the literature, the author examines blockchain's impact on business models, addresses the barriers and risks, and concludes with policy recommendations that will help unlock value in the UK's creative economy.

This book investigates how the Blockchain Technology (BCT) for Supply Chain Finance (SCF) programs allows businesses to come together in partnerships and accelerate cash flows throughout the supply chain. BCT promises to change the way individuals and corporations exchange value and information over the Internet, and is perfectly positioned to enable new levels of collaboration among the supply chain actors. The book reveals new opportunities stemming from the application of BCT to SCF financing solutions, particularly reverse factoring - or approved payables financing. To do so, it first identifies the principal barriers and pain points in delivering financing solutions. Then, a possible blockchain-driven supply chain model is defined. Using this framework, the book subsequently discusses relevant use cases for the technology, which could open up new opportunities in the SCF space. It demonstrates that blockchain and distributed ledgers technologies could deliver substantial benefits for all parties involved in SCF transactions, promising to expedite the processes and lower the overall costs of financing programs. Industry giants such as IBM, Maersk, China-based Dianrong and FnConn (a Foxconn subsidiary) are currently working to digitize the global, cross-border supply chain using blockchain technology, and will likely soon create blockchain platforms for supply chain finance. These solutions aim to reduce complexity and make data sharing more secure, accurate and efficient. This book offers a highly topical resource for stakeholders across the entire supply chain, helping them prepare for the upcoming technological revolution.

Smart contracts and contract law /Larry A. DiMatteo, Michel Cannarsa, and Cristina Poncibò --Definitions of smart contracts : between law and code /Riccardo de Caria --Technology of smart contracts /Valentina Gatteschi, Fabrizio Lamberti, and Claudio Demartini --Formation of smart contracts under contract law /Mateja Durovic and André Janssen --Challenges of smart contracts : implementing excuses /Eric Tjong Tjin Tai --Contract interpretation /Michel Cannarsa --Smart contracts : contractual and noncontractual remedies /Cristina Poncibò and Larry A. DiMatteo --Digital platforms : regulation and liability in EU law /Piotr Tereszkiewicz --Blockchains : a technology for decentralized marketplaces /Eliza Mik --Regulating smart contracts and digital platforms : a Chinese perspective /Jia Wang and Lei Chen --Blockchain and data protection /Lokke Moerel --Data protection in hybrid worlds /Sjef van Erp --Smart contracts : issues of property and security rights /Louis-Daniel Muka Tshibende --Algorithmic contracts and consumer privacy /Lauren Henry Scholz --Smart contracts and the courts /Marc Clément --Usefulness and dangers of smart contracts in consumer transactions /Oscar Borgogno --Smart transactional technologies, legal disruption, and the case of network contracts /Roger Brownsword --Observations on the impact of technology on contract law /Barbara Pasa and Larry A. DiMatteo --Visions of future : smart contracts, blockchain, and artificial intelligence /Diana Wallis.

Introduction -- Technologies of choosing -- A framework for institutional collective choice -- Delegating the vote -- Bargaining and exchange in a cryptodemocracy -- Cryptodemocratic corporate governance -- Cryptodemocratic labor unions -- The future of a cryptodemocracy.