A cryptocurrency is a medium of exchange using cryptography to
secure the transactions and to control the creation of new units
using decentralized control. Cryptocurrencies are a subset of
alternative currencies, or specifically of digital currencies.
Bitcoin became the first decentralized cryptocurrency in 2009 and
still is today the most accepted cryptocurrency available. The
decentralized control is related to the use of bitcoin's block
chain transaction database in the role of a distributed ledger.
Crypto Currencies and in particular the blockchain technology
are an innovation with the potential to change how our financial
system works. But Crypto Currencies also raise various yet
unanswered legal questions to be tackled while implementing the new
In his article (in German only), Luzius Meisser explains the
history of Crypto Currencies and the principles how they work and
what potential the blockchain based technology has. Focusing on
Bitcoins, the author aims at providing the unacquainted reader and
lawyer with the basic know how to understand the functionality and
capability of the of the distributed ledger technology.
Luzuis Meisser, MSc Computer Science ETH, co-founder of Bitcoin
Association Switzerland und an acknowledged expert in the field of
crypto currencies and bitcoins. His article was first released in
the conference transcript "Legal challenges for web based and
mobile payment systems" (2014). Its publication on the MME
website is made with kind permission of both the author and the
Last year proved a turbulent year for the FinTech sector. Although the industry continued to boom, the Brexit vote and the election of Donald Trump seem to have caused many investors to pause and reconsider investing in Europe and North America.
Writing in the Economist newspaper on 8 October 2016, US President Barack Obama called out artificial intelligence (AI) as one of several areas where ‘in recent years we have seen incredible technological advances'.
Fintech is currently a hot topic in many jurisdictions, particularly when it comes to facilitating innovation in that area from a regulatory perspective.
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