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Index

Blockchain Technology and the Law

Page 209 Index Index 3G Internet 22 ABA see American Bar Association Abra (application) 76 – 77 Abu Dhabi 134 accidental losses 117 – 119 accountability 7 , 19 , 26 , 29 ; reputation-based 62 accuracy 30 , 95 – 97 algorithmic contracts 71 Amazon 90 – 92 , 97 ; Marketplace 74 , 90 – 91 American Bar Association (ABA) 2 American Restatement of Restitution 1937 116 America Online (AOL) 163 – 164 Android Auto 53 anti-money laundering regulations 92 , 95 , 143 , 153 , 156 ; see also money-laundering AOL see America Online Apple CarPlay 53 arbitration: clauses 57 – 58 , 63 – 64 , 66 ; and smart contracts 55 – 66 ; systemic bias in 64 – 66 Arbitration Trap: How to Credit Card Companies Ensnare Consumers, The 64 Argentina 78 Arnold, Thelma 163 – 164 artificial intelligence 8 , 28 , 71 , 154 , 207 Ashton, Kevin 17 ATM see automated teller machine auditability 36 , 38 , 47 , 80 , 172 Australia 116 , 134 authentication: of information 18 ; of persons 18 – 19 ; of transactions 3 , 13 authorisation 19 , 43 automated teller machine (ATM) 109 automobile insurance 47 – 48 avatars 31 , 32 , 152 , 153 Bacon, Jean 173 – 174 Bank Act 1991 (Canada) 60 , 130 BankAmericard 82 ; see also Visa Bank for International Settlements 206 Bank of America 66 , 82 Bank of Canada 200 – 201 Bank of England 197 banking: access to 19 – 20 , 76 , 78 ; mobile-based 20 ; see also banks banks 79 ; accounts 20 , 192 , 196 ; adoption of distributed ledgers by 196 – 202 ; see also banking Bank Secrecy Act 1970 92 , 93 bargaining power 51 – 54 , 66 – 67 , 69 , 194 Barr, Michael S. 93 Bartholet, Elizabeth 65 Basel III Regulations 20 BCR see Binding Corporate Rules Beale, H.G. 52 Bear Stearns 172 Berkson v Gogo LLC 54 Binding Corporate Rules (BCR) 176 – 177 birth certificates 19 Bitcoin 1 , 5 , 35 – 36 , 100 – 101 ; and credit cards 80 ; and cryptography 7 ; development 75 – 76 ; future outlook 191 – 192 ; limited amount 16 ; and maintenance/operation of Blockchain 9 , 13 , 15 ; and purchase of illegal goods 88 – 89 ; running the network 16 ; use of intermediaries 6 ; verification of legitimacy 12 , 14 – 15 ; see also Bitcoin Blockchain; Bitcoin cash’; ‘Bitcoin core’; cryptocurrencies Bitcoin Blockchain 35 – 36 , 39 , 89 , 100 – 101 , 106 , 183 ‘Bitcoin cash’ 105 – 106 ‘Bitcoin core’ 103 ‘blackballing’ 64 ‘Black Box of Identity’ 31 – 32 Page 210 Blockchain 1 – 4 ; anti-governmental/authority tendencies 73 ; applications of 2 , 8 , 17 – 30 ; awards for maintenance and operation of 9 , 13 , 15 ; carrying out transactions 9 – 17 ; closed 35 – 38 ; consumer access to 30 – 33 ; description 8 – 9 ; editable 120 ; efficiency of 80 – 81 ; future 185 – 207 ; governance of 99 – 124 ; infrastructure 8 ; open 35 – 38 ; origins of 5 ; as peer-to-peer network 99 – 108 , 171 ; permissioned 36 – 37 , 106 , 119 , 122 ; private 106 , 120 – 121 , 190 – 191 ; public 35 , 100 , 108 , 112 , 122 , 159 , 162 , 164 , 170 – 173 , 182 – 184 ; regulatory intervention debate 186 – 190 , 202 – 207 ; use of registries 24 ; see also Bitcoin Blockchain; Blockchain-based technologies; Blockchain tokens; Ethereum Blockchain Blockchain-based technologies 190 – 202 Blockchain tokens 148 – 149 ; investment 137 ; utility 137 – 140 , 142 – 143 , 145 block numbers 13 – 14 , 104 Blomley v Ryan 52 BMW 53 border administration 27 Brainard, Lael 199 – 200 Brandeis, Louis 127 , 149 , 157 Braucher, Jean 204 broker-dealers 93 browsewraps 55 Burch, David 122 business-to-business networks 37 business-to-business transactions 56 – 57 Buterin, Vitalik 38 , 39 , 104 , 118 Caesares, Wences 78 California 6 , 64 Cambridge Analytica 153 Canada 116 ; dispute resolution 59 – 61 ; Know Your Customer rules 93 , 94 ; privacy rights 166 ; unconscionability doctrine 53 – 54 ; see also Ontario Canadian Bankers Association 59 Canadian Securities Association (CSA) 143 – 144 , 146 – 147 Cardozo Blockchain Project 138 – 139 Carney, Mark 197 – 200 casinos 93 Central Securities Depositories 25 chain of possession 8 , 17 ‘chameleon hashes’ 123 , 173 chargebacks 84 – 85 , 87 chattels 24 cheque cashers 93 chip cards 2 Chitty on Contracts 52 ‘chokepoints’ 154 , 155 Clayton, Jay 142 , 145 clickwraps 50 – 51 , 55 cloud-based computing 174 ‘code is law’ approach 111 – 112 , 121 ‘coinbase’ 15 Coindesk Bitcoin Technology Conference 106 Commercial Bank of Australia v Amadio 52 commercial paper 24 ‘commercial reasonableness’ standard 57 Commodity Futures Act 130 confidential material 37 consensus protocol 100 ; hashgraphs 103 ; Lamport’s Paxos 100 ; proof of space 102 ; proof of stake 102 ; proof of work 101 – 102 , 104 , 106 ConsenSys 32 Consumer Credit Act 1974 84 – 85 Consumer Financial Protection Bureau 61 – 62 , 66 consumer goods 53 , 140 consumer law 49 – 50 , 63 – 64 , 67 consumer payment mechanisms 73 – 98 consumer protection 23 ; and cryptocurrencies 86 – 89 ; and intermediaries 90 – 92 , 97 consumers: access to Blockchain 30 – 33 ; databases 158 , 165 ; preferences 67 – 68 ; privacy 157 , 176 , 178 , 180 , 204 , 206 ; profiles 158 – 159 , 164 ; see also consumer goods; consumer law; consumer payment mechanisms; consumer protection; dispute resolution contract law 49 , 52 contracts: algorithmic 71 ; block-chain 71 ; boilerplate 57 , 67 , 69 ; clickwrap 50 – 51 ; conventional 50 ; digital 55 ; investment 132 – 133 ; paper-based 55 ; semantic 56 ; semi-financial 40 ; shrinkwrap 50 – 51 ; timing of acceptance 50 ; see also contract law; smart contracts Cooley LLP 138 Cooperative Credit Associations Act (Canada) 130 core developers 103 – 104 corporate voting 25 corruption 24 credit bureaux 25 credit card companies 64 – 65 ; see also credit cards Page 211 credit cards: and Bitcoin 80 ; disputes 65 ; history of 82 – 86 , 91 ; issuers 81 – 82 , 87 – 88 ; services 62 ; unsolicited 83 ; see also credit card companies credit history 25 , 94 credit ratings 20 , 23 , 94 Credit Unions and Caisses Populaires Act 1994 130 creditworthiness 20 , 45 crowdfunding 138 , 141 crowd-sale 109 cryptocurrencies 5 , 23 , 73 ; acceptance of 88 ; Blockchain-based 3 – 4 , 74 ; as a consumer payment mechanism 190 – 196 ; and consumer protection 86 – 89 ; in developed economies 79 – 82 ; in developing countries 74 – 79 ; exchanges 31 , 93 , 105 , 155 – 156 ; and inflation 74 – 79 ; and money-laundering 154 – 157 ; nefarious aspect of 195 – 196 ; risks 30 – 31 , 84 , 86 – 89 ; see also Bitcoin; Ether ‘cryptographic proof’ 6 cryptography 5 , 11 ; origins of 6 – 7 ; public key 6 , 151 CSA see Canadian Securities Association customer service 23 , 66 , 98 , 206 DAO see Decentralised Autonomous Organisation data: aggregation 159 ; anonymised 160 , 165 , 170 ; collection requirements 21 ; controllers 168 , 170 – 171 , 174 – 175 , 179 ; harvesting 6 ; mining 158 – 159 , 162 – 165 , 181 , 184 ; processing 167 , 169 ; profiling 167 ; pseudonymised 159 , 160 – 165 , 167 , 170 ; removal 159 ; scrubbing techniques 160 ; transparency 25 ; warehousing 158 ; see also personal data De, Nikhilesh 94 debit card issuers 81 – 82 Decentralised Autonomous Organisation (DAO) 108 – 118 , 121 , 141 , 183 ; smart contracts 109 – 110 decision-making 17 , 108 deflation 15 , 198 Denationalisation of Money 199 Denning, Lord M.R. 54 DevOps 199 118 , 119 diamonds 28 Digicash 5 digital credit 23 digital identifiers 10 digital identity 20 , 45 – 46 digital technology 6 diplomas 19 dispute resolution 55 – 66 , 194 ; Canada 59 – 61 ; United Kingdom 58 – 59 , 62 ; United States 58 , 61 – 66 distributed ledgers 32 , 67 , 151 , 179 – 180 , 184 , 200 , 202 , 207 ; see also distributed ledger technology (DLT) distributed ledger technology (DLT) 35 , 36 , 119 , 173 , 190 , 207 ; and central banks 196 – 202 ; and Ethereum Blockchain 38 , 39 ; and individual privacy 152 – 157 ; see also distributed ledgers dividends 46 DLT see distributed ledger technology DNA-based technologies 29 documentation 26 – 28 Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 61 , 83 Domingo, Analie 76 – 77 dot.com era 82 double spend problem 5 – 6 , 11 , 12 driving licences 42 – 43 due diligence 20 – 21 , 77 , 92 – 93 , 129 , 156 e-Bay 67 eCash 75 e-commerce 67 – 68 , 91 economic efficiency 3 , 77 , 185 economic growth 20 , 28 economies of scale 24 electricity: lack of 22 ; use of 14 , 16 , 37 , 80 , 101 – 102 Elvy, Stacy-Ann 165 Employee Retirement Income Security Act 1974 (ERISA) 135 – 136 England 116 English law 52 equity security 132 ERISA see Employee Retirement Income Security Act 1974 error correction 99 – 124 ; see also human error escrow: mechanisms 87 ; services 43 Ether 39 , 109 – 110 , 118 Ethereum Blockchain 38 – 41 , 104 ; applications used on 40 ; and Decentralised Autonomous Organisation (DAO) 108 – 112 ; and Parity wallet software 118 ; and proof of stake protocol 102 ; and small contracts 38 – 41 , 118 – 119 ; split of 112 Ethereum Classic 112 , 122 Ethereum Virtual Machine (EVM) 38 – 39 Page 212 European Union (EU) 21 ; data protection regulation 151 – 152 , 160 ; privacy rights 166 – 167 , 170 – 171 Everledger 28 EVM see Ethereum Virtual Machine external events processing 47 extrinsic evidence 113 – 114 Facebook 153 Fair Credit Reporting Act 2012 94 ‘fat finger syndrome’ 22 Faura, Julio 142 finance gambling 23 financial accessibility 47 financial accounts 19 financial applications 40 Financial Conduct Authority 58 – 59 Financial Consumer Agency 60 financial data recording 47 Financial Industry Regulatory Authority (FINRA) 95 financial institutions 92 ; supervision 20 ; see also financial service providers financial services 18 , 37 ; access to 19 – 23 , 78 ; providers 20 ; see also financial institutions FINRA see Financial Industry Regulatory Authority ‘flag day’ 104 Flood, Mark D. 200 food industry 29 food products 29 – 30 food safety 30 forgery 19 ‘forking’ 97 , 104 – 107 , 110 – 111 France 134 Fratto, Natalie 181 – 182 fraud 14 , 21 , 123 , 124 ‘Fresno drop’ 82 – 83 Gates, Bill 79 GDP see gross domestic product GDPR see General Data Protection Regulation General Data Protection Regulation (GDPR) 151 – 152 , 160 , 166 – 177 , 206 Geva, Benjamin 75 , 76 GitHub 103 , 104 , 118 Global Alliance for Trade Facilitation 26 global financial crisis 1 , 61 , 62 global value chains 26 gold standard 198 , 199 Goodenough, Oliver 116 , 177 Google 182 Great Depression 126 Greenspan, Gideon 120 – 123 gross domestic product (GDP) 28 Guest, A.G. 113 – 114 hackers 7 , 8 hard fork 97 , 104 , 105 , 110 – 112 , 115 , 118 – 119 , 121 hash algorithms 11 – 14 hashgraphs 103 Hayek, Friedrich 198 – 199 Hazan, Thomas Lee 127 health insurance 162 – 163 Heap, Imogen 48 Hertig, Alyssa 105 Holmes of Richmond, Lord 19 House of Lords 19 human error 97 , 121 , 194 , 204 ; see also error correction hyperinflation 78 – 79 IBM 27 , 29 , 30 , 55 , 182 ICO see Initial Coin Offering illiteracy 22 immutability 8 , 24 , 120 – 123 , 207 income disparities 20 ‘inequality of bargaining power’ doctrine 54 ; see also bargaining power inflation 74 – 79 ; global 15 information: authentication 18 ; management 26 – 27 ; medical 19 ; private 46 ; protection 19 , 157 – 165 ; sharing 27 ; see also personal information infrastructure problems 22 Initial Coin Offering (ICO) 109 , 125 – 140 , 188 , 203 – 204 ; and crowdfunding 138 ; deregulation of 147 – 150 ; four-prong test 144 ; and private placement exemption 137 – 140 ; regulations on 140 – 147 Initial Public Offering (IPO) 125 , 127 – 129 , 141 , 150 Insurance Act (Canada) 130 insurance companies 48 , 135 intellectual property 48 Inter-bank clearing 37 interdependence of economies 19 intermediaries 4 , 6 , 156 , 176 ; and Bitcoin 97 ; and consumer protection 90 – 92 , 97 ; securities 25 International Money Laundering Abatement and Anti-Terrorism Financing Act see also Patriot Act 2001 Title III Page 213 international trade 26 – 28 Internet 9 , 86 , 87 Internet of Information 17 Internet of Things 17 , 28 , 43 , 47 , 53 , 70 interoperability 8 investment contracts 130 , 132 – 133 , 144 IPO see Initial Public Offering ISO 20022 25 Johnston, Simon 141 – 142 Kenya 23 Know Your Customer (KYC) rules 21 , 37 , 42 , 45 , 73 – 74 ; blockchain challenges to 92 – 98 Krugman, Paul 191 – 193 Lamport’s Paxos protocol 100 legacy technologies 2 legitimacy: of laws 187 ; of transactions 12 , 14 – 15 , 173 lending agreements 43 – 44 Levy, Steven Mark 126 lex cryptographica 187 Lex Mercatoria 85 liability 45 , 92 ; ‘benefit-based’ 116 ; consumer 83 ; limited 177 ; management 46 ; reducing 46 ; tax 116 ; tort 45 libertarianism 6 , 15 litigation 57 , 86 , 128 livestock 29 Lloyds Bank v Bundy 54 Loan and Trust Corporations Act 130 low-income individuals 20 – 23 ; see also poor, the; poverty Lubarsky, Boris 160 , 161 Lubin, Joe 32 Lumb, Richard 121 MacIntosh, Jeffrey 131 Mansfield, Lord 115 – 116 Massachusetts, State of 162 McCamus, John D. 116 meat production 29 medical information 19 Merrill Lynch 172 microfinance 20 – 22 microloans 20 Microsoft 182 miners 11 , 13 – 16 , 37 , 99 , 104 – 105 , 108 , 119 , 183 ; see also nodes; mining mining 13 , 16 , 80 , 102 , 104 , 106 , 120 , 182 ; data 158 – 159 , 162 – 165 , 181 , 184 ; see also miners mobile devices 22 mobile phones 22 ; see also smartphones money laundering: characteristics 153 – 157 ; legislation combating 153 – 157 ; regulations 21 , 77 , 94 – 95 , 143 , 191 ; steps of 153 – 155 ; see also anti-money laundering regulations Money Laundering, Terrorist Financing and Transfer of Funds Regulations 93 money transmission services 18 , 73 , 75 , 77 , 156 ; see also money transmitters money transmitters 93 , 94 Morris, Lord 113 mortgages 47 Moses v Macferlan 115 M-Pesa program 23 multiple identities 31 multi-signature protocols 10 multi-signature transactions 43 music distribution systems 48 NAF see National Arbitration Forum Nakamoto, Satoshi 5 , 6 , 7 , 9 , 12 , 15 , 16 , 36 , 100 – 101 , 152 – 153 , 165 , 179 National Arbitration Forum (NAF) 65 National Consumer Law Center (USA) 63 national identity documents 18 national insurance numbers 19 Neustar Research 162 New York Agreement (NYA) 107 New York City Taxi and Limousine Commission 161 – 162 New Zealand 116 Nicholls, Christopher 131 nodes 9 , 11 – 15 , 100 – 105 , 119 – 120 , 173 – 174 , 183 ; in Ethereum platform 38 – 39 ; number of 37 ; and software development 103 – 105 ; and software updates 36 , 105 – 106 nonces 13 , 15 non-financial applications 40 North America 3 , 46 , 62 , 115 , 165 , 172 ; securities regulators in 125 – 150 ; unconscionability doctrine 53 – 54 North American International Auto Show 53 ombudsman 58 – 61 one-computer-one-vote system 14 one-vote-to-one-IP-address 14 Page 214 online feedback 69 Ontario 126 – 128 , 130 ; private placement exemption 134 – 135 Ontario Securities Commission (OSC) 128 , 134 oracles: role of 41 – 49 ; smart 42 OSC see Ontario Securities Commission Pacific Coast Coin Exchange v Ontario Securities Commission 133 Parity 118 Parol Evidence Rule 113 passwords 117 – 118 , 193 ; see also private keys Patriot Act 2001 Title III 92 – 93 payment mechanisms 75 ; see also consumer payment mechanisms PBFT protocol see Practical Byzantine Fault Tolerance (PBFT) protocol personal data 160 – 161 , 167 – 171 , 173 – 175 , 178 , 180 ; definition 167 ; see also data personal identity 20 ; ‘Black Box,’ of 31 – 32 ; documents 19 , 21 , 31 ; multiple 31 ; verification of 20 – 21 personal information 31 , 151 , 153 ; protection of 46 , 157 – 161 personal property: registries 24 ; Security/Uniform Commercial Code filings 46 policy-making 189 – 190 Poloz, Stephen 201 Polytechnic University of Milan 137 poor, the 20 ; see also low-income individuals; poverty Popper, Nathanial 78 Postal Service 93 post-trade services 25 poultry 29 poverty 20 – 22 Practical Byzantine Fault Tolerance (PBFT) protocol 102 – 103 , 121 practice licences 19 privacy: definition of 157 ; enhancing 152 – 157 ; law 151 – 184 ; regulations 166 – 180 ; rights 152 , 180 – 183 Privacy by Design approach 152 , 178 – 180 private keys 9 – 10 , 39 , 96 , 153 , 161 ; safeguarding 30 – 31 , 193 – 194 ; see also passwords private placement exemption 134 – 136 , 138 ; and Initial Coin Offering (ICO) 137 – 140 Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada) 93 Proceeds of Crime Act 2002 (UK) 93 pro-consumer rules 91 production process 29 Project Jasper 200 – 201 proof of space protocol 102 proof of stake protocol 102 proof of work protocol 12 – 13 , 101 – 102 , 104 , 106 , 120 property owners 24 property rights 24 Prosser, William 157 – 158 Protocol Labs 138 provenance 28 – 29 ; of food products 29 – 30 Provenance (online platform) 28 proxy voting 25 , 46 pseudonymisation 159 , 160 – 165 , 167 , 170 Public Citizen (advocacy group) 64 public keys 6 , 9 – 10 , 151 – 153 , 161 quality assurance 29 – 30 quantum computing 180 – 183 Radin, Margaret Jane 69 Ramey, Corrine 155 ratings 70 RBC see Royal Bank of Canada real property registries 24 real-time exposure monitoring 47 recursive flaw 109 Regulation Z 83 , 84 , 86 , 90 , 96 remittances 18 , 75 – 76 Right to be Forgotten 151 Right to Rectify Errors 151 Roosevelt, Franklin Delano 126 Royal Bank of Canada (RBC) 94 royalties 48 rule of law 4 , 24 , 186 – 188 safety assurance 29 – 30 SAFT approach 125 – 126 , 138 – 140 , 148 – 149 Sale of Goods Act 85 ‘savvy subgroup defence’ 69 scrollwraps 55 seafood 28 SEC see Securities and Exchange Commission SEC v Ralston Purina Company 135 – 136 SEC v W.J. Howey Co. 132 – 133 , 143 , 149 , 150 Page 215 secondary markets 127 , 145 – 148 secret keys 123 Securities Act 1933 (Ontario) 126 – 127 , 130 , 133 Securities and Exchange Act 1934 (USA) 126 , 132 , 133 , 143 Securities and Exchange Commission (SEC) 128 , 142 , 145 – 146 securities depositories 25 , 46 securities intermediaries 25 securities laws 125 – 136 security: definition 131 – 132 ; equity 132 ‘segregated witness’ see also Segwit; Segwit2x Segwit 106 – 107 , 112 Segwit2x 107 – 108 self-execution 71 self-regulation 62 semi-financial contracts 40 Sergey, Ilya 119 Serious Crime Act 2015 93 SHA-256 algorithm 11 Shared Coin (application) 155 short-term loans 20 shrinkwraps 50 – 51 Siegel, David 108 – 109 sign-in wraps 55 ‘Silk Road’ website 88 smart chips 28 smart contracts 35 , 114 – 115 ; and arbitration 55 – 66 ; for automobile insurance 47 – 48 ; and consumer law 49 – 55 ; definition 41 ; for derivatives 47 ; and digital identity 45 – 46 ; and Ethereum Blockchain 38 – 41 , 118 – 119 ; examples 41 – 49 ; for financial data recording 47 ; legal challenges 49 – 55 , 57 ; for mortgages 47 ; for records 46 ; role of oracles 41 – 49 ; for securities 46 ; standard terms 66 – 72 ; for trade finance 46 ; and transaction costs 56 – 57 , 114 ; as a vending machine 70 – 71 ; and smart oracles 42 ; see also Decentralised Autonomous Organisation (DAO) smartphones 22 , 53 , 76 , 78 ‘sniping’ programs 67 – 68 social insurance numbers 19 social security numbers 19 soft fork 104 , 105 , 110 software: consensus approach to upgrading 36 ; development of 103 – 108 ; distribution of products 50 ; ‘forking’ 104 ; for managing personal information 31 – 32 ; updates 36 , 105 – 106 , 183 ; ‘wallet’ 10 , 31 , 117 – 118 spoilage 28 statistical noise 159 Stiglitz, Joseph 191 Stinchcombe, Kai 80 , 88 stock exchanges 36 stock splits 46 stored value cards 2 , 75 streaming 48 succession events 47 supply chain 28 ; disputes 56 ; management 26 , 37 ; trust in 28 – 29 Supreme Court of Canada 133 Supreme Court of the United States 135 ‘suspicious activity report’ 93 Sweeney, Latanya 163 SWIFT 25 , 174 Szabo, Nick 41 , 70 – 71 tampering 14 , 18 – 19 , 26 , 30 , 80 , 95 , 185 Tapscott, Don 5 , 195 technical support 23 third world countries 22 time-stamp 11 – 12 , 17 , 24 , 26 , 36 , 101 , 103 Tockar, Anthony 162 token sales 137 , 141 ; see also Bitcoin tokens; Initial Coin Offering (ICO) tort law 157 – 158 transaction costs 194 ; errors and fraudulent behaviour 123 ; money transmissions and remittances 18 ; real property registries 24 ; reducing 43 – 44 , 46 , 74 , 92 ; smart contracts 56 – 57 , 114 ; see also transactions Transaction Costs rule 3 transactions 35 – 72 ; fees 16 ; legitimacy of 12 , 14 – 15 , 173 ; netting 26 ; see also transaction costs transparency 7 , 37 , 47 ; data 25 ‘trust problem’ 5 – 33 , 88 , 194 trustworthiness 88 Truth in Lending Act 1968 83 UCC see Uniform Commercial Code Ulbricht, Ross 88 – 89 ‘unbanked, the’ 20 unconscionability doctrine 53 – 54 Uniform Commercial Code (UCC) 50 – 51 , 54 ; chargeback 85 United Kingdom: adoption of distributed ledgers by central bank 197 – 198 ; Page 216 credit cards 84 – 85 ; dispute resolution 58 – 59 , 62 ; Financial Conduct Authority 134 ; Know Your Customer rules 93 ; unconscionability doctrine 54 ; unjust enrichment principle 115 – 116 United States: credit cards 82 – 86 ; dispute resolution 58 , 61 – 66 ; Know Your Customer rules 92 – 95 ; money-laundering reporting regulations 21 ; placement exemption 135 – 136 ; presidential election 2016 153 ; privacy regulations 166 ; securities laws 125 – 128 , 130 – 132 ; tort law 157 – 158 ; unconscionability doctrine 54 United States Congress 83 United States Federal Reserve 15 , 199 United States Financial Industry Regulatory Authority (FINRA) 25 – 26 Università Bocconi 137 unjust enrichment principle 115 – 116 user accounts 39 , 93 user ID 24 vehicles: assessment of accident damage 48 ; disabling from starting 44 – 45 ; hands-free control 53 vending machines 70 – 71 Vermont 177 ViaBTC 105 Visa 80 , 82 , 85 Vodafone 23 ‘wallet software’ 10 , 31 , 117 – 118 ; Parity 118 Walmart 30 Warren, Samuel 157 wastage 28 weather 41 Weinstein J 55 Weld, William 162 – 163 White Papers 1 , 5 , 38 , 43 , 100 , 138 , 153 Wilkins, Carolyn 200 Winn, Jane Kaufman 79 – 82 , 90 , 91 , 194 – 195 , 204 , 206 World Bank 20 World Economic Forum 27

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