4 ms·

Having bought and sold property in the UK and comparing it to Sweden, for example, then I can only say that the UK process is archaic and incredibly cumbersome.

Having bought and sold property in the UK and comparing it to Sweden, for example, then I can only say that the UK process is archaic and incredibly cumbersome. So this is a very interesting place to improve the process. If you can get the legal process to stick and not end up with some edgecase situations where people end up losing their right to the property, this I think could be of real value to the UK. Disclosure: I have known @leashless since way before Ethereum.

propertea 4y ago
If there's a system in the UK that is slow, and a system in Sweden that is fast, why is blockchain / crypto / smart contracts etc. the solution to the UK's slow system instead of whatever Sweden is doing -- since whatever Sweden is doing is working?
- bjelkeman-again 4y ago
  My experience is that things like this is often deeply rooted in the culture, legal system and business practices in a country. It is not easy to copy those things from one country to another. Especially where we have quite different legal systems. Additionally in the UK people are proud of getting on, despite old fashioned systems. Whereas in Sweden they strive always to modernize. So, different cultures. (Of course, huge generalization there. For example the UK has done better on open data in the government than the Swedes have done, so in this case the whole thing is reversed. )
leashless 4y ago
Hey Thomas. Yes! The key here is the failover to English Common Law: if something breaks the failover is binding arbitration with a technically sophisticated arbitrator who will come in, figure out who owns what, make the awards, job done. Obviously that's minimal protection if (for example) somebody has their cryptocurrency stolen and it's just gone - but ownership of the physical property isn't subject to those kinds of misfortunes. It's 100% under law, as you would expect!

propertea 4y ago

If there's a system in the UK that is slow, and a system in Sweden that is fast, why is blockchain / crypto / smart contracts etc. the solution to the UK's slow system instead of whatever Sweden is doing -- since whatever Sweden is doing is working?

bjelkeman-again 4y ago
My experience is that things like this is often deeply rooted in the culture, legal system and business practices in a country. It is not easy to copy those things from one country to another. Especially where we have quite different legal systems. Additionally in the UK people are proud of getting on, despite old fashioned systems. Whereas in Sweden they strive always to modernize. So, different cultures. (Of course, huge generalization there. For example the UK has done better on open data in the government than the Swedes have done, so in this case the whole thing is reversed. )

leashless 4y ago

Hey Thomas. Yes! The key here is the failover to English Common Law: if something breaks the failover is binding arbitration with a technically sophisticated arbitrator who will come in, figure out who owns what, make the awards, job done. Obviously that's minimal protection if (for example) somebody has their cryptocurrency stolen and it's just gone - but ownership of the physical property isn't subject to those kinds of misfortunes. It's 100% under law, as you would expect!