Michael Hudson & Blockchain Lawyer, George Morris on proof of ownership, an individual's legal recourse for defamation of character in the crypto sphere, the nuances that UK Regulators will use to categorise different cryptocurrencies, and establishing precedent in Blockchain Law.
At a time where so-called "Bitcoin experts" claim for themselves the right to define Bitcoin's vision and roadmap, Bitstocks CEO & Founder, Michael Hudson and blockchain lawyer George Morris (Simmons & Simmons) tackle the quandary of 'knowing' in a groundbreaking field: Do we need to have all the answers at hand? Or is it perhaps more appropriate to embark on a journey towards greater clarity within a 'grey' field like blockchain?
The two address the concept of "code is law" and how it relates to real-world scenarios. Michael refers to the anarchist interpretation of the 'code is law' concept that says 'ownership of keys proves ownership of an asset'. Though the concept sounds empowering it reflects a rather naive view of reality. George points out that, from a legal perspective, one would never assume that possession proves ownership.
"If someone steals the keys of your Porsche from the bar counter, they can hardly claim legitimate ownership of your 911."
George Morris is a partner at Simmons & Simmons, the legal firm that advises Bitstocks in general and specifically on the development of our Banking-like ecosystem, Gravity. George admits to the stresses of working on the legal aspects of the Blockchain sector: as you're at the cutting edge of a new technology, there's no ready-made answers. Instead of being able to rely on precedent, the legal eagle's in the space are breaking new ground every day to set the agenda for the future.
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