The Promise and Potential of Blockchain and New UCC Article 12

This article focuses on the residential mortgage market, and specificall mortgages that were originated electronically. The firs part provides context regarding the existing laws on electronic transactions and differentiates electronic notes from electronic home equity lines of credit. The second part summarizes the 2022 UCC amendments. The third part reviews the promises of blockchain in light of the 2022 UCC amendments and discusses both the benefit and potential challenges. The authors end with conclusions to be drawn and observations for the future. Readers should also note the important update at the end, summarizing developments since this article was written.