{"title":"Bitcoin’s Identity Crisis and the Prospect of Trustless Money","authors":"Alain Zamaria","doi":"10.1515/gj-2020-0008","DOIUrl":null,"url":null,"abstract":"Abstract Whether it is legally treated as a digital property, a commodity or a security, bitcoin’s identity crisis is mainly caused by its contradictions as a trustless monetary project. The paper argues that bitcoin’s trustlessness is a confusing concept that accounts for its legal and monetary troubles. As explicated by monetary sociologists and economists, money is based on a complex trust architecture. By questioning the interplay between code, trust and law in the monetary realm, the paper aims to enlighten the philosophy of bitcoin’s monetary project, the current trends, and some potential developments for bitcoin and distributed ledger technologies.","PeriodicalId":34941,"journal":{"name":"Global Jurist","volume":" ","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2020-04-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1515/gj-2020-0008","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Global Jurist","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1515/gj-2020-0008","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"Social Sciences","Score":null,"Total":0}
引用次数: 0
Abstract
Abstract Whether it is legally treated as a digital property, a commodity or a security, bitcoin’s identity crisis is mainly caused by its contradictions as a trustless monetary project. The paper argues that bitcoin’s trustlessness is a confusing concept that accounts for its legal and monetary troubles. As explicated by monetary sociologists and economists, money is based on a complex trust architecture. By questioning the interplay between code, trust and law in the monetary realm, the paper aims to enlighten the philosophy of bitcoin’s monetary project, the current trends, and some potential developments for bitcoin and distributed ledger technologies.
期刊介绍：
Global Jurist offers a forum for scholarly cyber-debate on issues of comparative law, law and economics, international law, law and society, and legal anthropology. Edited by an international board of leading comparative law scholars from all the continents, Global Jurist is mindful of globalization and respectful of cultural differences. We will develop a truly international community of legal scholars where linguistic and cultural barriers are overcome and legal issues are finally discussed outside of the narrow limits imposed by positivism, parochialism, ethnocentrism, imperialism and chauvinism in the law. Submission is welcome from all over the world and particularly encouraged from the Global South.
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