Abstract
ABSTRACT While the financial industry invests significantly into blockchain technology, there remain serious questions surrounding the implementation of blockchain for the storing and exchange of large-scale financial assets. This article argues that there should be significant limitations on its use as a store of value, and storing financial assets in a blockchain network of the Bitcoin type should not be permitted as blockchain is currently structured and implemented. This conclusion is based on the following arguments: first, storing financial assets in a blockchain network of the Bitcoin type poses significant security risks; secondly, existing regulatory structures and methods are largely ineffective when applied to crypto-currency, and third, a reliance on crypto-currency networks can result in a void of human legal and moral responsibility. These are issues that may have the potential to be alleviated in time, but until they are, firms should tread very carefully into using blockchain for the storing and exchange of financial assets.
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