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In the Bitcoin whitepaper, Satoshi Nakamoto detailed a “purely peer-to-peer version of electronic cash” using timestamps to form a chain of transactions to keep a “public history of transactions”.
The central concept was decentralisation, users transacting with each other without the need for an intermediary such as a bank or agent. This was possible only through the uniqueness of keys used to operate each transaction and the public nature of the chain.
The paper laid the foundation for blockchain technology and now, 14 years later, we have a cryptocurrency market estimated by Bloomberg to be worth £2.2 trillion, an NFT market of £29 billion, and contracts that can use this technology to perform themselves without human intervention.
The boom of this new decentralised world brings with it unique challenges for litigators. This article considers the current scope of cryptocurrency litigation and commercial disputes relating to cryptocurrency, NFTs, and smart contracts.
Bristows, cryptocurrency, NFTs, litigation, bitcoin, blockchain, trademarks, brand owners, licensing agreement, technology, legal framework