Will Blockchain’s Time-Stamped and Immutable Data Bolster the Fight Against Crypto Cyber Crime?

Colleagues, China has become one of the first countries to recognize Blockchain-based smart contracts as legally binding evidence. Moreover, the PRC has opened two courts dedicated to processing Internet and cybercrime. These moves would appear to strengthen crypto cyber security in both domestic and cross-border transactions. The UK Law Commission reported in July 2018 that it has launched a research project to assess the legitimacy of smart contracts as well. Meanwhile, the American Bar Association (ABA) views recognizes Blockchain-based smart contracts as a “disruptive advancement” which have the potential of transforming the legal system. Surely, there is a vocal minority in the global crypto ecosystem who view such measures as a hindrance to cryptocurrency adoption. By contract, we believe that collectively these initiatives will have two positive outcomes. First, enhanced security in cryptocurrencies and the Blockchains that enable them. Second, improvement in consumer and institutional confidence in cryptocurrencies. Send us your thoughts today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/)