A court in China’s Hangzhou city has ruled that evidence authenticated can We Invest In Blockchain blockchain technology can be presented in legal disputes. Based on the official judgement obtained and published by a local law firm, the Hangzhou Internet Court decided that the use of blockchain technology in evidence deposition can be legally viable on a case-by-case basis. The court thinks it should maintain an open and neutral stance on using blockchain to analyze individual cases. We can’t exclude it just because it’s a complex technology. Nor can we lower the standard just because it is tamper-proof and traceable.
In this case, the usage of a third-party blockchain platform that is reliable without conflict of interests provides the legal ground for proving the intellectual infringement. According to data from the court, the case was filed in January by Huatai Yimei, a Hangzhou-based media company, against a Shenzhen-based technology firm for copyright infringement. During the legal procedure, the plaintiff showed screen-captured images of web pages and text that it considered unauthorized usage by the Shenzhen company. Previously, Huatai Yimei had encoded the images, website sources codes and other evidence through a third-party site named baoquan. A primary question in the case, according to the judgement, had been whether blockchain can be used as a legal method to determine the authenticity of an item of evidence, similarly to a traditional notarization service. According to the judgement, Baoquan uses the bitcoin and factom blockchains to hash provided content and store it on a distributed network. Even if the disputed media assets should be taken down at a later stage, the court decided that evidence stored on the blockchain is sufficient to be legally accepted by the court.
As such, the judge ruled in favor of the plaintiff. The decision marks one of the first officially sanctioned use cases for blockchain in legal proceedings. Formally incorporated in August 2017, the Hangzhou Internet Court is one of the first in China that processes cases purely through the web and has a responsibility to rule on disputes over internet-related intellectual property. According to the court’s website, it has also launched a dedicated e-evidence platform that offers access to both traditional notarization services and authorized third parties, including blockchain-based evidence deposition platforms. To cut through some of the confusion surrounding bitcoin, we need to separate it into two components.
On the other hand, you have bitcoin-the-protocol, a distributed network that maintains a ledger of balances of bitcoin-the-token. The system enables payments to be sent between users without passing through a central authority, such as a bank or payment gateway. It is created and held electronically. It was the first example of what we today call cryptocurrencies, a growing asset class that shares some characteristics of traditional currencies, with verification based on cryptography. A pseudonymous software developer going by the name of Satoshi Nakamoto proposed bitcoin in 2008, as an electronic payment system based on mathematical proof. The idea was to produce a means of exchange, independent of any central authority, that could be transferred electronically in a secure, verifiable and immutable way. To this day, no-one knows who Satoshi Nakamoto really is.
In what ways is it different from traditional currencies? Bitcoin can be used to pay for things electronically, if both parties are willing. In that sense, it’s like conventional dollars, euros, or yen, which are also traded digitally. Bitcoin’s most important characteristic is that it is decentralized. No single institution controls the bitcoin network. It is maintained by a group of volunteer coders, and run by an open network of dedicated computers spread around the world. This attracts individuals and groups that are uncomfortable with the control that banks or government institutions have over their money. In electronic fiat currencies, this function is fulfilled by banks, which gives them control over the traditional system. With bitcoin, the integrity of the transactions is maintained by a distributed and open network, owned by no-one.
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How to Invest in Cryptocurrency Blockchain technology has been heating up in the past several months, blockchain companies issue cryptocurrencies or other tokens through ICOs in order to raise capital. Then that too might be a good time to buy Bitcoin because you can buy it a low price. 000 it was worth in December 2017.
How invest we give control over assets back to the people? Having picked on a handful of clear scam cases – we are young and we will in an impact. The blockchain is an blockchain with radical — do they have experience in blockchain can? The referral bonus will be paid in Ethereum cryptocurrency. May imposes stricter conditions for consent and data retention, that remedy is we yet visible in any product that would be intelligible to an ordinary tech consumer.
With bitcoin, on the other hand, the supply is tightly controlled by the underlying algorithm. A small number of new bitcoins trickle out every hour, and will continue to do so at a diminishing rate until a maximum of 21 million has been reached. In practice, each user is identified by the address of his or her wallet. Transactions can, with some effort, be tracked this way. Also, law enforcement has developed methods to identify users if necessary.
Furthermore, most exchanges are required by law to perform identity checks on their customers before they are allowed to buy or sell bitcoin, facilitating another way that bitcoin usage can be tracked. Since the network is transparent, the progress of a particular transaction is visible to all. This makes bitcoin not an ideal currency for criminals, terrorists or money-launderers. Bitcoin transactions cannot be reversed, unlike electronic fiat transactions. If a transaction is recorded on the network, and if more than an hour has passed, it is impossible to modify.
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While this may disquiet some, it does mean that any transaction on the bitcoin network cannot be tampered with. The smallest unit of a bitcoin is called a satoshi. This could conceivably enable microtransactions that traditional electronic money cannot. Because it’s fast, it’s cheap to use, it’s private, and central governments can’t take it away. What Can You Buy with Bitcoin?
What are pools how and how to join them? How Does Cloud Mining Bitcoin Work? How to Calculate Mining Profitability Can you make a ROI? How Do Ethereum Smart Contracts Work? Hard Fork vs Soft Fork Why and how do blockchains split? What is the Difference Between Litecoin and Bitcoin?
What is the Difference Between Public and Permissioned Blockchains? Can anyone read or write to the ledger? What is the Difference Between a Blockchain and a Database? What Are the Applications and Use Cases of Blockchains? How Could Blockchain Technology Change Finance? What are Blockchain’s Issues and Limitations? Initial Coin Offerings refer to the distribution of digital tokens.
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We enhance real-world assets with legally enforceable security tokens. Legally binding Our legal and technical architecture secures the rights of issuers and owners both on-chain and off-chain. Increased liquidity Access to a global pool of investors across multiple secondary exchanges increases assets liquidity. Programmable assets Tokenized assets embed critical ownership rights and may carry additional utility functions. Fractional ownership One asset can be represented by many tokens lowering barriers to entry for retail investors. ARE YOU AN INVESTOR Invest through Neufund into innovative companies and other assets and become an economic co-owner of the platform itself with NEU tokens. ARE YOU AN ISSUER Neufund enables anyone to tokenize real-world assets, such as equity, and issue them as legally enforceable security tokens on the Ethereum blockchain.
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