Bitcoin and the Law of Exchange
Cleveland Heights became one of the first U.S. cities where local businesses officially began accepting Bitcoin as payment for goods and services.
Understanding Bitcoin and the Law of Exchange
The rise of Bitcoin has reshaped commerce by removing intermediaries and re-establishing the Law of Exchange — the voluntary transfer of value between consenting parties. This reflects the core of contract law and the Law Merchant, where agreements are enforced through mutual consent and performance rather than compulsion.
Cryptocurrency shows how private parties can create lawful systems of exchange and trust through technology. Each transaction is verified, recorded, and performed according to principles of honor, equity, and performance — timeless standards that have governed commerce for centuries.
Join our Private Members Area to explore how blockchain technology aligns with common law, private trust structures, and modern commerce in the digital age.
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