The Facebook Diem Project: Can Big Tech Create Its Own Currencies?
Jo-an Chen Cryptocurrencies are rising in popularity as both a means for investment and a medium for exchange for goods and services. In 2019, Facebook announced its intent to create a new stablecoin cryptocurrency called Libra as a means to promote financial inclusion and access to the unbanked population. After its initial failed launch in 2019 due to heavy regulatory criticism over data privacy, money laundering, and financial instability concerns, Facebook is once again seeking to relaunch the Diem Project in 2021. This Essay discusses the potential social benefits, the disruption to financial institutions, and the regulatory challenges that the...
Blockchain and Copyright: Vain Hope for Photographers?
Jason Kim Blockchain technology has near unlimited application potential, and its influence could extend all the way to the copyright industry. For photographers, blockchain technology might serve as a safe and efficient tool to detect infringement. However, this notion must be treated with caution. Blockchain’s security applications are indeed a valuable prospect, but the technology has critical flaws that prevent it from becoming the panacea for photographer. Read Full Text Here
Not Quite Cryptus Horribilis: 1997’s Developments in the Encryption Debate Have Pushed Sides Further Apart
Adam White Scoville In late 1997, at least six bills or amendments on the use of encryption were either introduced or circulated in draft form. Seven congressional committees considered encryption legislation. A clear trend is emerging from these developments. Law enforcement and national security interests favoring restrictions on encryption are quickly growing further apart from civil liberties groups and computer and telecommunications industry associations favoring liberalization of encryption rules. The rifts have grown wide enough to induce at least one interested group to predict that no satisfactory compromise could imminently be possible and to cease advocating the passage of encryption...