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#75 - UCC Article 12 Amendments with Drew Hinkes and Andrea Tosato

Law of Code

CHAPTER

The Development of the Uniform Commercial Code

In the US, commercial law is not federal. It's a state law and in order to have all the states have uniform commercial law throughout the 20th century there was a project called the Uniform Commercial Code. Article 12 of that code provides legal certainty for commercial transactions involving certain types of digital assets. But this body of rules is technology neutral. This is why it has all these strange names. You look at Article 12 and you're like, wait, controllable electronic records. So these guys talking about why they're making it unnecessarily complicated because the aim is to draft rules that are technology neutral.

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