In this video, Scott Nelson and Vinay Gupta discuss the future of contracts, law, and commerce.
What does blockchain technology mean for the legal side of business activity in the future? No one knows. What is obvious, however, is that for the blockchain to become agreeable for global commerce, it will need a mechanism to merge the abstract world of smart contracts and cryptocurrency with many legal realities of jurisdiction, title, conflict resolution and enforcement.
Some of the topics discussed in this video are:
- The idea of using arbitration instead of national court systems for smart contracts
- The challenge to mixing the ‘real world’ and the potential of blockchain
- Figuring out how to get physical assets ‘onto’ the blockchain (beyond just digital)
- Getting the business world and the blockchain world working together
- Mitigating the hurdles (risk) facing the business world as it attempts to figure out ways to use blockchain technologies