Bitcoin ‘Segregated Witness’ Technology Raises Legal Controversy

December 12, 2017 Eric Pesale

Bitcoin skyrocketed past a record-breaking $18,000-per-coin valuation last week, more than doubling its value in two weeks. But if you were trying to join the cryptocurrency gold rush, you might have encountered some delay. It can take days to complete a bitcoin purchase, and a rush of traffic has slowed transactions in a host of digital currencies, from bitcoin to “CryptoKitties.”

A technology that could speed up those transactions, however, remains controversial and, according to some commentators, could pose legal problems. SegWit2x, a technological framework designed to accelerate bitcoin transaction speeds, could theoretically open up the door to payment security issues that could enable cybercriminals to illegally reroute money from buyer accounts to seller accounts. Segregated Witness (SegWit) technology has also caused a stir in legal circles.

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