Category Archives: Blockchain: The Future of Finance and Capital Markets?

On Settlement Finality and Distributed Ledger Technology, by Nancy Liao

by Guest Blogger — Friday, June 9, 2017

In their opening remarks at the March 3, 2017 roundtable, Carolyn Wilkins of the Bank of Canada and Andrew Hauser of the Bank of England described the efforts undertaken by their organizations to understand the capabilities and limitations of distributed ledger technology. Both central banks examined the potential use of distributed ledger technology in large-value […]

How Payments Law Can Help Drive Innovation, by Jessie Cheng

by Guest Blogger — Thursday, June 8, 2017

Distributed financial technologies (DFT) and protocols are gaining a foothold in important payment and settlement applications in global markets. The software developed by Ripple is one example of an enterprise solution for financial institutions that improves the efficiency of their cross-border payments. However, robust DFT must be paired with clear commercial rules that define and […]

The Firm as a Nexus of Smart Contracts? How Blockchain and Cryptocurrencies Can Transform the Digital Economy, by Christian Catalini

by Guest Blogger — Wednesday, June 7, 2017

Through his seminal work on transaction costs, Nobel laureate Ronald Coase highlighted key frictions that prevent organizations from relying exclusively on market transaction to achieve their goals. Uncertainty, asymmetric information and the risk of moral hazard, by undermining the ability to write complete and effective contracts, force organizations to internalize operations and depend on more […]

Blockchain Technology Regulations: Harnessing Potential Means Enabling, not Restricting, by Nina Gunther Kilbride

by Guest Blogger — Tuesday, June 6, 2017

As new uses of blockchain technology become more varied and appealing, the issue of appropriate regulatory structure is a common legal theme. Blockchain delivers a secure, tamper-evident digital evidence structure. Blockchains combine distributed computer networks and cryptography to make a better way of storing and proving who did what when. From a functional legal perspective, […]

Virtual Currencies – the Regulatory Challenges, by Ross Leckow

by Guest Blogger — Tuesday, June 6, 2017

People involved in FinTech live in a world of “what if?”, “how about?” and “why not?”. They gaze into an unknown future filled with unlimited possibilities for a more efficient and inclusive global financial system. But that future may also pose potentially devastating risks that are beyond the control of policy-makers. Nowhere is this dichotomy […]

Symposium Introduction: Why Does Blockchain Matter?, by Nancy Liao

by Guest Blogger — Monday, June 5, 2017

On March 3, 2017, industry leaders, policymakers, and academics converged at Yale Law School to discuss blockchain, a technology that some believe has the potential to disrupt current modes of providing core financial services and transacting in capital markets.  Over the course of the day, panelists debated the opportunities created by blockchain adoption, as well […]