Posted by Dan Bindman
The UK is running out of time to establish itself as the legal jurisdiction of choice for governing transactions involving new technologies.
Quite senior people tended “to glaze over” when confronted with the subject of distributed ledger technologies, which hampered their willingness to address issues around it
“People do not need to understand the technical details, they need to understand how distributed ledgers − recording immutably every aspect of every transaction, and smart documentation and contracts − will change legal business, transactional or litigious, the consumer world… the way financial and insurance markets work…[and] the way people’s personal finances will operate. And that’s just a few sectors for a start.”