Computer Law – Page 3 – Marquette University Law School Faculty Blog

Bitcoin, Blockchain, and Smart Contracts – Part 1

Post author:Jose Lazaro
Post published:September 16, 2018
Post category:Business Regulation Computer Law Corporate Law Public Student Contributor

Over 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.

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

Post author:Albert Bianchi
Post published:September 6, 2017
Post category:Computer Law Privacy Rights Public

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.

While 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.

Microsoft President Calls for Protecting Privacy as the Cloud Reshapes Lives

Post author:Alan J. Borsuk
Post published:November 17, 2016
Post category:Computer Law Intellectual Property Law Public Speakers at Marquette

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.