Fueled in part by the wealth recently created from digital currencies, major art dealers such as Christie’s and Sotheby’s have embraced the sale of non-fungible tokens attached to unique digital works of art. Non-fungible tokens, how they are related to the blockchain and short history so...

Back in 2012, I was talking with an acquaintance, who happens to be a copyright scholar, about a cease and desist letter that an artist had received from a publisher. The publisher objected to the artist’s display and sale of works that collaged cutouts from a comic book with new material...

Societies have laws, so why should virtual societies be any different? This article is a thought experiment in comparative law, an attempt to lay the necessary conceptual foundations for talking coherently about the internal legal systems of virtual worlds. I identify four recurring problems in...

Using self-made billionaire entrepreneurs in China as a proxy for large entrepreneurs, we examine the impact of institutional environment quality on the longevity of such entrepreneurs. While property rights institutions and contracting institutions are important in explaining macroeconomic...

This project represents a basic design of a multilateral FX market that synthetically connected to the modern bilateral FX market. The essence of the multilateral FX market is an introduction of the single rates generating by the multilateral FX structures. These single rates are single currency...