Managing Principal Mihran Yenikomshian and Principal Almudena Arcelus Discuss the Intersection of Blockchain and Antitrust in Antitrust Matters Podcast
May 27, 2022
Managing Principal Mihran Yenikomshian and Principal Almudena Arcelus were invited to discuss blockchain-related antitrust issues in the Antitrust Matters podcast hosted by Constantine Cannon. Speaking with Jeffrey I. Shinder, an associate at Constantine Cannon, and Grant Petrosyan, a managing partner, Mr. Yenikomshian and Ms. Arcelus drew on their deep experience analyzing antitrust issues, technology, and the introduction of blockchain into a variety of business processes.
While blockchain may be best-known for its application to cryptocurrency, Mr. Yenikomshian and Ms. Arcelus discussed its security and efficiency features in other business transactions. These include smart contracts, in which automated processes and contingencies can facilitate agreements between parties who might otherwise not trust each other – for instance, Airbnb hosts and customers, or steel manufacturers and auto manufacturers. Mr. Yenikomshian offered ways blockchain could have a procompetitive effect by increasing choice and lowering enforcement costs, and Ms. Arcelus discussed its potential for facilitating relationships among firms. The experts also addressed anticompetitive possibilities, both internationally and in the US economic landscape; the downside of “cryptocurrency wallets”; blockchain’s application to cross-border payments; and issues to look out for as the technology’s use continues to evolve.