Blockchain technology is showing increasing signs that it will become a major player in financial services and related industries. It has the potential to revolutionize how governments, businesses, and individuals conduct transactions.
In fact, much has happened since the publication of the seminal paper in 2009 by Satoshi Nakamoto envisioning a digital currency where a decentralized network of computers would keep track of transactions with no oversight of a central bank. Bitcoin, the industry’s pioneer, is now only one of many cryptocurrencies and tokens comprising the cryptocurrency market. As of March 2018, there were over 1,500 available cryptocurrencies. And, at a recent peak, the market for cryptocurrencies was valued at more than $800 billion.
In this article, we seek to examine some of the current trends in the regulatory and litigation landscape associated with the expansion of blockchain technology.