Racing to Regulation: A Comparative Analysis of Virtual Currency Regulation in Alaska And the Proposed Alaska Money Services Act Carlos Manzano

The emergence of virtual currencies has revolutionized the financial industry by creating an alternative form of payment that seeks to insulate individuals from government and bank influence. Yet, federal regulation of virtual currency has remained limited. Many state legislators have rushed to fill the gap by enacting laws regulating virtual currency use and transmission. This state-by-state approach has led to significant variation between state regulatory regimes, creating a regulatory spectrum of lenient to strict regulatory approaches. In March 2017, Alaska House Representatives Zach Fansler and Sam Kito proposed the Alaska Money Services Act to require licensing for virtual currency activity. The bill’s proposed requirements lean towards the strict side of the regulatory spectrum, bringing the potential to drive virtual currency businesses away from Alaska. This Note proposes that Alaska legislators enact virtual currency legislation that adequately balances technological innovation with consumer protection through several recommendations, including: (1) enacting virtual currency-specific legislation rather than importing regulation into existing and outdated laws, (2) clearly defining the legislation’s scope, (3) collaborating with stakeholders in enacting legislation, (4) including an on-ramp to ensure emerging startups are not overly burdened, (5) tailoring the level of regulation to the level of risk a virtual currency business poses to Alaska consumers by tiering requirements to transmission volume, (6) requiring only relevant information in the application, and (7) reducing agency discretion to revoke licenses

Beyond Bitcoin: Issues in Regulating Blockchain Transactions

The buzz surrounding Bitcoin has reached a fever pitch. Yet in academic legal discussions, disproportionate emphasis is placed on bitcoins (that is, virtual currency), and little mention is made of blockchain technology—the true innovation behind the Bitcoin protocol. Simply, blockchain technology solves an elusive networking problem by enabling “trustless” transactions: value exchanges over computer networks that can be verified, monitored, and enforced without central institutions (for example, banks). This has broad implications for how we transact over electronic networks. This Note integrates current research from leading computer scientists and cryptographers to elevate the legal community’s understanding of blockchain technology and, ultimately, to inform policymakers and practitioners as they consider different regulatory schemes. An examination of the economic properties of a blockchain-based currency suggests the technology’s true value lies in its potential to facilitate more efficient digital-asset transfers. For example, applications of special interest to the legal community include more efficient document and authorship verification, title transfers, and contract enforcement. Though a regulatory patchwork around virtual currencies has begun to form, its careful analysis reveals much uncertainty with respect to these alternative applications

A distributed auctioneer for resource allocation in decentralized systems

In decentralized systems, nodes often need to coordinate to access shared resources in a fair manner. One approach to perform such arbitration is to rely on auction mechanisms. Although there is an extensive literature that studies auctions, most of these works assume the existence of a central, trusted auctioneer. Unfortunately, in fully decentralized systems, where the nodes that need to cooperate operate under separate spheres of control, such central trusted entity may not exist. Notable examples of such decentralized systems include community networks, clouds of clouds, cooperative nano data centres, among others. In this paper, we make theoretical and practical contributions to distribute the role of the auctioneer. From the theoretical perspective, we propose a framework of distributed simulations of the auctioneer that are Nash equilibria resilient to coalitions and asynchrony. From the practical perspective, our protocols leverage the distributed nature of the simulations to parallelise the execution. We have implemented a prototype that instantiates the framework for bandwidth allocation in community networks, and evaluated it in a real distributed setting.Peer ReviewedPostprint (author's final draft

Dynamic Covalent Synthesis of Crystalline Porous Graphitic Frameworks

Porous graphitic framework (PGF) is a two-dimensional (2D) material that has emerging energy applications. An archetype contains stacked 2D layers, the structure of which features a fully annulated aromatic skeleton with embedded heteroatoms and periodic pores. Due to the lack of a rational approach in establishing in-plane order under mild synthetic conditions, the structural integrity of PGF has remained elusive and ultimately limited its material performance. Here, we report the discovery of the unusual dynamic character of the C=N bonds in the aromatic pyrazine ring system under basic aqueous conditions, which enables the successful synthesis of a crystalline porous nitrogenous graphitic framework with remarkable in-plane order, as evidenced by powder X-ray diffraction studies and direct visualization using high-resolution transmission electron microscopy. The crystalline framework displays superior performance as a cathode material for lithium-ion batteries, outperforming the amorphous counterparts in terms of capacity and cycle stability. Insertion of well-defined, evenly spaced nanoscale pores into the two-dimensional (2D) layers of graphene invokes exciting properties due to the modulation of its electronic band gaps and surface functionalities. A bottom-up synthesis approach to such porous graphitic frameworks (PGFs) is appealing but also remains a great challenge. The current methods of building covalent organic frameworks rely on a small collection of thermodynamically reversible reactions. Such reactions are, however, inadequate in generating a fully annulated aromatic skeleton in PGFs. With the discovery of dynamic pyrazine formation, we succeeded in applying this linking chemistry to obtain a crystalline PGF material, which has displayed high electrical conductivity and remarkable performance as a cathode material for lithium-ion batteries. We envision that the demonstrated success will open the door to a wide array of fully annulated 2D porous frameworks, which hold immense potential for clean energy applications. We report the unusual dynamic characteristics of the C=N bonds in the pyrazine ring promoted under basic aqueous conditions, which enables the successful synthesis of two-dimensional porous graphitic frameworks (PGFs) featuring fully annulated aromatic skeletons and periodic pores. The PGF displayed high electrical conductivity and remarkable performance as a cathode material for lithium-ion batteries, far outperforming the amorphous counterparts in terms of capacity and cycle stability