While blockchain technology has been long touted for its security, under certain conditions it can be quite vulnerable. Sometimes shoddy execution can be blamed, or unintentional software bugs. Other times it’s more of a gray area—the complicated result of interactions between the code, the economics of the blockchain, and human greed. That’s been known in theory since the technology’s beginning. Now that so many blockchains are out in the world, we are learning what it actually means—often the hard way.
In a sensational test of technological independence, Russia is making plans to cut off its internet from the rest of the world, with a giant ‘unplugging’ experiment that will affect over 100 million Russian internet users. The contentious plan is expected to be enshrined in law soon, and although nobody knows just when the great unplugging will take place, it should happen imminently.
Google Cloud developer advocate Allen Day and his team of open source developers from around the world are launching a number of tools designed to do to blockchain what Google search did to the internet.
Blockchain technology eliminates the need for a trusted central authority, and instead relies upon consensus mechanisms to ensure the security of the network. In this investigation, we explore authentication methods common to most blockchain networks, then explore the two most popular consensus mechanisms: Proof of Work (PoW) and Proof of Stake (PoS).
In 2019, blockchain and distributed ledger technologies will continue to occupy a prominent role in conversations about transformative innovation in the practice of law. In her recent article on blockchain published by Above The Law, strategist, author, and speaker Olga Mack highlights some critical considerations for innovative leaders working with these disruptive technologies.
The Global Legal Blockchain Consortium (GLBC) appears to provide an excellent and collaborative forum for legal industry professionals, to include those in the eDiscovery ecosystem, seeking to learn, develop, and deploy blockchain-centric solutions and services.
The CNIL’s recently released guidance does offer some solutions in allowing blockchain to exist under the GDPR, however, it may create more questions about how these solutions would work in practice.
Attorneys now need to recognize blockchain transactions as a source of ESI that needs to be considered in preparing and responding to discovery requests, in the same manner as text, social media, and other electronic data sources.
Cloudflare’s IPFS Gateway provides an easy way to access content from the InterPlanetary File System that doesn’t require installing and running any special software on your computer.
Unstructured experimentation of blockchain solutions without strategic evaluation of the value at stake or the feasibility of capturing it means that many companies will not see a return on their investments.