In the first of the Private Law video series at Edinburgh Law School, Dr John Macleod, Senior Lecturer in Private Law, discusses his research on…
Month: October 2019
By David Fox, Professor of Common Law, University of Edinburgh
In 2018 the Governor of the Bank of England, Mark Carney, pronounced that cryptocurrencies were “failing” as money. Their extreme volatility against state-issued fiat currencies, like sterling or the US dollar, proved they were inefficient stores of monetary value. Storing value through time is one of the main functions of money.
Mr Carney’s comments raise important questions for lawyers. Does the law have a distinctive conception of monetary value, and is there any difference in how it might apply to a privately-created cryptocurrency compared with a state-issued fiat currency?
We are pleased to announce the launch of the Edinburgh Private Law Blog, picking up the baton from the Scots Law News Blog, the European Private Law Blog and the Obligations Law Blog.
The Edinburgh Private Law Blog will host a range of material including reports on seminars and conferences, précis of articles, and comments on recent cases and legislative material.