While investing this problem, I ran across a very old legal concept of "feoffment with livery of seisin" which oddly corresponds more accurately to use of keys on blockchain, as it not a contract but is evidence that a transfer took place. <a href="https://legal-dictionary.thefreedictionary.com/Livery+of+Seisin">https://legal-dictionary.thefreedictionary.com/Livery+of+Seisin</a> /ht @scottldavid

Christopher Allen

@ChristopherA

I've been diving into a legal problem that #KeysAreNotAssets—a court judgement should not compel you to transfer keys, as they are not designed to be transferred. Instead, the court should only ask you to transfer the digital assets held by the keys and controlled by you.

4/26/2019, 2:07:55 PM

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Christopher Allen

@ChristopherA

While investing this problem, I ran across a very old legal concept of "feoffment with livery of seisin" which oddly corresponds more accurately to use of keys on blockchain, as it not a contract but is evidence that a transfer took place. https://legal-dictionary.thefreedictionary.com/Livery+of+Seisin /ht @scottldavid

4/26/2019, 2:14:45 PM

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Christopher Allen

@ChristopherA

Another topic related is that there may be some general doctrine in contract law that prevent courts from compelling "specific performance" when there could be harm to the promisor or to their autotomy. Thus a key which protects many things shouldn't be compelled. /ht @connbrown1

4/26/2019, 2:27:35 PM

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Christopher Allen

@ChristopherA

As keys may also control private information I would like see that courts be prohibited from compelling keys as a remedy for civil cases. Instead, any payment of digital assets owed as a result can be satisfied through a transaction to the control of the party seeking the remedy.

4/26/2019, 2:31:38 PM

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Christopher Allen

@ChristopherA

This way, an individual can retain their own autonomy over their digital identity and private information while also satisfying any obligations that would arise out of a breach of contract, divorce claim, or other similar legal matter.

4/26/2019, 2:34:58 PM

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Christopher Allen

@ChristopherA

I hope to be able bring this up as a topic during the Wyoming legislative Blockchain Task Force meeting on May 6-7th in Jackson as it is an interesting intersection of digital assets & privacy, well suited for what Wyoming has been doing. https://www.wyoleg.gov/Committees/2019/S3 /cc @CaitlinLong_

4/26/2019, 2:37:39 PM

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Christopher Allen

@ChristopherA

👆 #KeysAreNotAssets cc/ @hackylawyER @stephendpalley @msantoriESQ @angela_walch @adamdavidlong @shantanusurpure @cryptohm @fintechcounsel @ckayakr @bobambrogi @dazzagreenwood

4/26/2019, 2:47:12 PM

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Christopher Allen

@ChristopherA

I’m quite pleased to report that today the Wyoming Blockchain Task Force has agreed to investigate this #KeyAreNotAssets issue and will propose language for protection of keys at their next meeting, for possible proposal in next legislative session. First step in the process! 👍

5/7/2019, 3:59:44 PM

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