BITCOIN DIGITAL LAW: WHY CRYPTOCURRENCIES ARE DIGITAL LAWS OF THE INTERNET AND WHY STATES MUST ADAPT
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BITCOIN DIGITAL LAW: WHY CRYPTOCURRENCIES ARE DIGITAL LAWS OF THE INTERNET AND WHY STATES MUST ADAPT
BITCOIN DIGITAL LAW: WHY CRYPTOCURRENCIES ARE DIGITAL LAWS OF THE INTERNET AND WHY STATES MUST ADAPT
Sale price
$18.99
Regular price $22.99
Bitcoin is regulated outside of the States. But how is it regulated? What kind of law is it? Can we speak of a new source of law operating in the jurisdiction of the internet? Does the jurisdiction of the internet exist?
Is it part of the digital regulation of Bitcoin that it is becoming more and more valuable? Can we as a society begin to regulate ourselves based on the jurisdiction of the internet?
Equally, are Bitcoin's rules difficult to manipulate? Do we have a digital law that is ultimately more robust and secure than any country's constitution?
The author tries to solve these questions with a critical and innovative view. By studying the past we can intuit the future. By delving into the agricultural and industrial and cognitive revolution we can understand what the future will look like with the new internet. It’s no coincidence that the modern state is losing strength and that new forms of government are needed. It is also no coincidence that the elites do not want us to understand new technologies. Bitcoin, Ethereum, Uniswap or Tether manifest a new form of regulation through digital laws operating in the jurisdiction of the internet. A new form of decentralized organization and legislation is emerging that is not based on states, but on the community itself.
The modern state and the Internet are as opposite as oil and water. We have been living with the internet for less than fifty years and our society has completely changed. Music (Spotify), movies (Netflix), the way we communicate (social networks) and the way we search (google), are just a few examples.
Bitcoin is not just a digital currency. Bitcoin is pure law. Since the emergence of the blockchain, it is possible to regulate ourselves in a decentralized, private way, with a law that is digital, self-regulating and self-executing. Those born under the figure of the Modern State, accustomed to moral rules forged in the Industrial and French Revolution, find it difficult to understand this change.
Likewise, states, elites and official organizations repeat over and over again the same message from various platforms: Bitcoin is unregulated, it is only good for dirty business, it is merely speculative, etc. While we listen to these slogans, the price of Bitcoin continues to rise, unstoppable.
We are witnessing the birth of a new law: internet law. Every era has its own legal system. Property law arose out of the settlement of agricultural societies. Commercial law was born in the Middle Ages. Corporate law flourished in the 17th century, thanks to the maritime mercantile business. Labour law appeared among the assembly lines of the factories of the Industrial Revolution. Digital laws, such as Bitcoin, are those of internet jurisdiction.
Internet technology allows us to be sovereign, to issue digital laws in a decentralized way, and to organize ourselves through new institutions. It is our responsibility to seek social and legal solutions in line with the internet revolution. This is the message that Bitcoin gives us: let's not leave in the hands of distrustful third parties what we can solve from the community itself. Money and law, in the end, belong to society - to the community - and not to states.
The author, Ignacio Ferrer-Bonsoms, is a lawyer and legal advisor. He is president of Block-chain Arbitration & Commerce Society, an association that has the first Arbitration Court specialized in blockchain, cryptocurrencies and artificial intelligence.
Is it part of the digital regulation of Bitcoin that it is becoming more and more valuable? Can we as a society begin to regulate ourselves based on the jurisdiction of the internet?
Equally, are Bitcoin's rules difficult to manipulate? Do we have a digital law that is ultimately more robust and secure than any country's constitution?
The author tries to solve these questions with a critical and innovative view. By studying the past we can intuit the future. By delving into the agricultural and industrial and cognitive revolution we can understand what the future will look like with the new internet. It’s no coincidence that the modern state is losing strength and that new forms of government are needed. It is also no coincidence that the elites do not want us to understand new technologies. Bitcoin, Ethereum, Uniswap or Tether manifest a new form of regulation through digital laws operating in the jurisdiction of the internet. A new form of decentralized organization and legislation is emerging that is not based on states, but on the community itself.
The modern state and the Internet are as opposite as oil and water. We have been living with the internet for less than fifty years and our society has completely changed. Music (Spotify), movies (Netflix), the way we communicate (social networks) and the way we search (google), are just a few examples.
Bitcoin is not just a digital currency. Bitcoin is pure law. Since the emergence of the blockchain, it is possible to regulate ourselves in a decentralized, private way, with a law that is digital, self-regulating and self-executing. Those born under the figure of the Modern State, accustomed to moral rules forged in the Industrial and French Revolution, find it difficult to understand this change.
Likewise, states, elites and official organizations repeat over and over again the same message from various platforms: Bitcoin is unregulated, it is only good for dirty business, it is merely speculative, etc. While we listen to these slogans, the price of Bitcoin continues to rise, unstoppable.
We are witnessing the birth of a new law: internet law. Every era has its own legal system. Property law arose out of the settlement of agricultural societies. Commercial law was born in the Middle Ages. Corporate law flourished in the 17th century, thanks to the maritime mercantile business. Labour law appeared among the assembly lines of the factories of the Industrial Revolution. Digital laws, such as Bitcoin, are those of internet jurisdiction.
Internet technology allows us to be sovereign, to issue digital laws in a decentralized way, and to organize ourselves through new institutions. It is our responsibility to seek social and legal solutions in line with the internet revolution. This is the message that Bitcoin gives us: let's not leave in the hands of distrustful third parties what we can solve from the community itself. Money and law, in the end, belong to society - to the community - and not to states.
The author, Ignacio Ferrer-Bonsoms, is a lawyer and legal advisor. He is president of Block-chain Arbitration & Commerce Society, an association that has the first Arbitration Court specialized in blockchain, cryptocurrencies and artificial intelligence.