According to a recent research report compiled by researchers from the Florida International University and Princeton University, China has tremendous influence over the bitcoin network largely due to its monopolization of the system’s hashing power. The report explores the nation’s attack capabilities and incentive to devastate bitcoin.
Many enthusiasts immediately think of Switzerland when looking into crypto friendly locations. The tiny island nation of Singapore, however, is making its own moves up the ranks.
In September 2017, the Defense Advanced Research Projects Agency (DARPA) approved research into blockchain technology. Since this approval, DARPA researchers have examined multiple different blockchain-based systems.
The advantages of blockchain often become a secondary topic each time prices cycle through a new bubble. Public eyes shift away from the advantages of blockchain and towards the advantages of speculation.
One of the core functions of blockchain is doing away with the need for intermediaries. This, along with the evolution of smart contracts, has led to speculation that there will be no need for lawyers in peer-to-peer transactions. It's almost inevitable that converging blockchain and law will, in some cases, mean that the role of lawyers as intermediaries will be reduced. However, there are also plenty of examples where lawyers themselves can make use of blockchain. Here, we look at various examples of how blockchain can apply to the legal profession.