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(And I quote) 6. The theory is to dispel the myth that blockchain is a fringe technology used only by those wanting to risk their livelihoods or possibly make
by leashless 3y ago
(And I quote)
6. The theory is to dispel the myth that blockchain is a fringe technology used only by those wanting to risk their livelihoods or possibly make their fortunes on volatile cryptoassets like Bitcoin.
7. The blockchain is now at a stage in its development equivalent to where the internet was in or around 1995. The internet was unstoppable in 1995 and blockchain technology is unstoppable now. It will become ubiquitous in all major industrial and financial sectors, simply because it allows for the immutable recording of data, thereby reducing friction in commercial and consumer transactions and obliterating the scope for dispute as to what has occurred.
8. As the Master of the Rolls and Head of Civil Justice in England and Wales, I hold an office that pre-dates modern trade in derivatives and reinsurance, even steam engines, powered flight, and certainly the internet. I am particularly and obviously concerned about the reputation and development of English law and the jurisdiction of England and Wales.
9. Many people do not realise that English law governs trading in €600 trillion of OTC derivatives annually, in €11.6 trillion in metals trading, in £250 billion in M&A deals, and in £80 billion in insurance contracts every year – just to take a few examples. My hope is that English law will prove to be the law of choice for borderless blockchain technology as its take up grows exponentially in the months and years to come.
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I think we can both agree that this is a well reasoned case made by a global expert in the field who is talking inside of his area of expertise: I feel that my view of the blockchain and its potentials is similar, although of course less nuanced. I think you should reconsider your position based on this analysis and the work of many other experts in the field. But you do you. By all means be the expert. Be the authority.
Tell people what to think. Right or wrong.