Virtual and Digital Currency

Monday 22 September 2014

Refreshments from 6.00pm, talk from 6.30pm. Finish 7.30pm

G.34 - Lecture Theatre, Manchester Metropolitan University Business School, All Saints Campus, Oxford Road, Manchester, M15 6BH

Free and open to all.

Dai Davis


The internet has spawned many spin-offs: after avatars and virtual worlds, it was only a matter of time before virtual currencies were born. While some of those currencies, such as Linden Dollars are tied to proprietary systems such as Linden Labs’ "Second Life", others are free standing and self- sustaining such as Litecoin, Peercoin and Namecoin not to mention the more well-known Bitcoin. Another type of currency that fits into the "non-tangible" category is the more widely adopted "PayPal" system.

In this talk, Dai will expose the risks of virtual currencies and look at the avenues for legal redress. All the crimes that can take place in real worlds with real currencies can and do take place in virtual worlds.  From the pyramid selling scams of Ginko Bank in Second Life to the collapse of the ill-fated Mt. Gox. Are they "crimes" anyway? Who polices virtual currencies? Is your virtual currency really safe? Can it ever be safe? And who uses Bitcoins and why? How are governments and regulators approaching virtual currencies. What legislation is likely? How should businesses approach virtual currencies.

Dai will use his legal expertise and IT security skills to delve into the increasingly murky waters of virtual currency.

About the speaker

Dai is a Technology Lawyer. He read Physics at Keble College, Oxford and took a Masters Degree in Computing Science at the University of Newcastle-upon-Tyne before qualifying as a Solicitor. He is a qualified Chartered Engineer and Member of the Institution of Engineering and Technology. Dai is an active member of the Society for Computers and Law in the United Kingdom and has been Chairman of its Northern Branch and a member of the Council of that Society. Dai has consistently been recommended in the Legal 500 and in Chambers Guides to the Legal Profession.