Developing Blockchain Real-Time Clearing and Settlement in the EU, U.S., and Globally

Joanna Diane Caytas J.D. Candidate, Columbia Law School 2017 Framing the issue U.S. and European payment systems as we fondly know them are notoriously antediluvian. In China, all a consumer needs to do to send money is to input on their phone the beneficiary’s 16-18 digit account number, name, and bank name. Final credit is typically received in 5 seconds – not up to 5 hours, as for a U.S. domestic wire. Nor do Chinese consumers experience the grotesque fees charged for Western Union’s “instant money,” which in most cases still requires a trip to clear physical cash. There is […]

Risk Finance in the UK Pharma Sector: Why the Industry is Right to Fear a Brexit

Aaron Rogoff J.D. Candidate, Columbia Law School 2017 Editor-In-Chief, Columbia Journal of European Law Introduction – What is at Stake for UK Pharma The British pharmaceutical industry employs 183,000 people and accounts for annual sales worth £ 56 billion (€ 71.39 billion).  Its leaders have been vocal opponents of the UK referendum to leave the EU. Their comments refer to a number of negative implications for pharmaceutical companies, including the loss of their investment in achieving regulatory alignment for drug development under the European Medicines Agency (EMA), the cost and instability that will result if that regime must be revised […]