Did you know that by 2028, 10% of global GDP will be stored in blockchain?? Who will be the new oracles in the future? Will blockchain serve as a tool to solve digital identity/electronic signature problems?
These are some of the questions we discussed on May 19 during the presentation of “Cryptoregulation in a Nutshell”, the book written by Pablo García Mexía, president of Syntagma, digital lawyer and attorney of the Congress; and José Morales Barroso, Managing Partner of L&M Data Communications, professor, doctor and engineer, in a virtual meeting organized by Blockchain Intelligence.
“Cryptoregulation in a Nutshell” is a synthesis of the key regulatory aspects of Blockchain (and DLTs), in the context of its technological foundations and its current implementation features by companies and other organizations.
During the session, conducted by Almudena de la Mata, Managing Partner of Blockchain Intelligence, the authors explained to the attendees how they have structured in the book the issues raised by blockchain, both from a technical (José Morales Barroso) and legal (Pablo García Mexía) point of view.
Pablo García Mexía opened his speech by talking about the role of blockchain today, and then went on to address the main problems in its implementation. In his opinion, blockchain has gone through different phases, like all emerging technologies, and is now in a phase of increasingly normal productivity, which he calls ‘cryptorealism’, not exempt from the most varied problems, such as the misgivings that arise among the authorities of the countries for their lack of regulation. The fact is that there is still much to be developed so that regulation covers all aspects of this technology (even blockchain intermediaries are potential objects of regulation), and one of the goals is to achieve a ‘Law by Design’, a form of regulation from the outset, which can solve such basic questions as the applicable jurisdiction in a specific case where blockchain technology is used.
Blocks, nodes, protocols and oracles
For his part, José Morales Barroso outlined the basic concepts that make up the blockchain, which are explained in detail in the book, and then focused on the infinite number of applications that the blockchain can have in various sectors such as health and energy, whether we are talking about the public or the private sector. In particular, he highlighted the role that the blockchain can play in everything related to cybersecurity, and pointed to the problem of sovereign digital identity as one of the pending subjects in Spain.
We would like to thank our guests for their participation in this session, as their contributions help us to understand a little more about the world that we are facing with blockchain. There is still so much to learn, and from Blockchain Intelligence we will continue to delve into everything that surrounds this exciting technology. Stay tuned for our next sessions!
Access to the book here.