Bitcoin, Blockchain, and Smart Contracts – Part 2

Currency on a blockchain was the logical first step, and while it may well disrupt the way our financial systems operate, it was just that – the first step. Public and private industry adoption of blockchain and smart contracts is not dependent on the price or market capitalization of cryptocurrencies. Just this year blockchain popularity increased by 11% among large enterprises, while the cryptocurrency market capitalization, from early January to today, has decreased by an estimated $600 billion. Let’s talk emerging uses.  (more…)

Continue ReadingBitcoin, Blockchain, and Smart Contracts – Part 2

Bitcoin, Blockchain, and Smart Contracts – Part 1

Photo of a Bitcoin Cash wallet on a mobile phone and a copy of Mastering Bitcoin written by Andreas AntonopoulosOver the past year and a half Bitcoin and other cryptocurrencies have been taken a place under the mainstream spotlight, meaning the public at large has witnessed the speculative behavior in the cryptocurrency market. In December 2017 the price of one Bitcoin surpassed $20,000, only to encounter a bear market where the market price today is around $6,500. This volatility is not new to Bitcoin. For example, on December 4, 2013, Bitcoin was $1,175 and shortly after, on February 10, 2014, the price hit a low $100.  I point out price volatility to show that the cryptocurrency market is a unique speculative market. With that being said, let’s put money to the side and focus on the technology on which the Bitcoin network runs – blockchain technology. As we will see, using blockchain to create and maintain a currency is only the beginning.

At its essence blockchain technology is linked data between computers. It is defined as a digital, decentralized, append-only, distributed ledger that allows unrelated individuals to transact with each other without the need for a third-party or controlling authority. Because no third-party transaction confirmation is needed, the network becomes trustless. I want to make a note on the ‘append-only’ characteristic because it is crucial to the high security value blockchain provides. Append only means that data can only be added to the blockchain, it cannot be removed. Blocks that are already on the chain cannot be altered in any way. You can only make a change by noting it on a future block that is not on the chain yet, and every participant of the blockchain can see this change. At very technical levels advanced cryptography is what allows blockchain to exist, but diving into a discussion of these technicalities requires a scientific discussion, which, while interesting, would not serve a legal purpose. However, something of high-relevance to the legal community is a discussion of smart contracts. Working closely with coders and blockchain experts, attorneys can draft smart contracts that provide a more efficient, secure, and cost-effective way of facilitating transactions between individuals. (more…)

Continue ReadingBitcoin, Blockchain, and Smart Contracts – Part 1

‘Click’ . . . You Just Agreed To Sell Your Privacy

We have all gone to a website and, in accessing the website’s services, have agreed to “terms and conditions” that include a litany of policies, including privacy policies governing how the company maintaining the website will use our personal information obtained while accessing the website. And let’s be honest, even as attorneys or soon-to-be-attorneys, many of us usually do not actually take the time to read the laundry list of items we are agreeing to just so we can obtain a 20% coupon.  I know I’m guilty of regularly clicking “I agree” without reading every term and condition.

cartoon image of a desktop computerWhile we may think our assent to a website’s terms and conditions has little effect on our everyday life, our agreement does in fact matter, and not just for us but also for the company maintaining the website.  For example, one such specific website that most, if not all, of us have used is Facebook. While, again, we likely have not paid very close attention to Facebook’s privacy policies such as its data and cookie policies, those policies explain that Facebook uses cookies or browser fingerprinting to identify users and track what third-party websites users browse.  This use of cookies or browser fingerprinting is why you see ads for products or services that are, or at least should be, most relevant to you.  Indeed, these processes are why I now regularly see ads for Nintendo products when on Facebook after having searched for and purchase Nintendo’s handheld 3DS video game system for my ten year old son. (more…)

Continue Reading‘Click’ . . . You Just Agreed To Sell Your Privacy

Microsoft President Calls for Protecting Privacy as the Cloud Reshapes Lives

You only needed to read the title of the 2016 Nies Lecture in Intellectual Property presented Tuesday at Marquette Law School to know that Brad Smith was offering a generally positive view of the future of technological innovation. “A Cloud for Global Good: The Future of Technology—Issues for Wisconsin and the World” was the title.

Indeed, Smith spoke to the potential for what he called the fourth industrial revolution to improve lives across the world. But he also voiced concerns about the future of privacy and security for personal information in a rapidly changing world, and he called for updating of both American laws and international agreements related to technology to respond to the big changes.

All of this came from a standpoint of unquestionable knowledge of the subject matter. Smith is the president and chief legal officer of Microsoft. The Appleton native has been with the company since 1993 and his duties include overseeing corporate, external, and legal affairs for the global technology giant. (more…)

Continue ReadingMicrosoft President Calls for Protecting Privacy as the Cloud Reshapes Lives

Legal Issues and Pokémon Go

20160727_135932Okay, I admit it. I’m playing Pokémon Go. It’s frustratingly addictive.

For those who don’t know, Pokémon Go is an app for smartphones; the app is free, but players can make in-app purchases. The idea is for each player to “catch” creatures known as Pokémon, which the player does by “throwing” what is called a Pokéball at them. Once you catch the creatures, each of which has its own special powers and abilities, you can “evolve” them into stronger, more powerful creatures and you can go to gyms to “battle” other players.

Pokémon Go uses GPS to figure out where a player is located and presents the player with that “map.” Pokéstops (where players can go to get free goodies they need to play the game) and gyms are represented on the map as actual places, usually public places like parks, sculptures, or churches. To get to a Pokéstop or to battle at a gym, a player needs to physically move herself to that location. For example, the Marquette University campus is full of Pokéstops—e.g., a few sculptures on the southeast side of campus, one of the signs for the Alumni Memorial Union. Dedicated players certainly get some exercise.

Pokémon Go is also interesting because of how it mixes your real-life location with the mythical creatures. When a creature appears, you can take its picture, as if the Pokémon is right there in your real world. (See the pictures in this post.)IMG_20160722_084109

But Pokémon Go has been at the root of a number of accidents and incidents and it raises a number of interesting legal issues.

(more…)

Continue ReadingLegal Issues and Pokémon Go