SMU Science and Technology Law Review
Abstract
Digital assets are changing the way businesses think about equity, labor, business models, and business organization. Digital assets, like Bitcoin or Ethereum, provide incredible opportunities to further align shareholders with the objectives of the entity.
Each time humanity advances its technology for ledgers, markets explode, and we witness immense wealth creation. Digital assets like Bitcoin and Ethereum are the next great step forward for ledger technology. While there are incredible opportunities to leverage this new technology, there are also incredible risks. There are many public examples of “hacks” of prominent blockchains like Ethereum and Solana. Blockchain technology has captured the imagination of the public. Blockchain, therefore, must develop a robust security system and intelligently distribute and limit liability for institutional and retail investors to reap the rewards of public attention.
Part of the risk that comes from digital assets is its newness. Blockchains that run smart contracts have many incredible uses that could eliminate middlemen in many industries. But courts are yet to develop case law surrounding smart contracts. The way that smart contracts self-execute presents a new question which courts must address: how should a court allocate risk between two smart-contracting parties?
No matter how the courts decide, the market needs an answer. This article attempts to explore some of the opportunities in digital assets and how these opportunities are fundamentally different from their traditional equivalents.
Recommended Citation
Nick Curley,
Blockchain Disruption: Digital Assets Are Changing How We Do Business,
25
SMU Sci. & Tech. L. Rev.
265
(2022)
Included in
Computer Law Commons, Intellectual Property Law Commons, Internet Law Commons, Science and Technology Law Commons
