Jonny Fry / James Tylee of Digital Bytes by Team Blockchain on Cyber.FM 1st December 2021

James Tylee from CyberFM

Jonny Fry is joined by James Tylee to discuss this weeks Digital Bytes newsletter featuring special guest: Mircea Mihaescu, Coinfirm.

Welcome to this week's edition of Digital Bytes where we discuss:

Finally, legal clarification for smart contracts - smart contracts are seen to be a key reason for using Blockchain technology since they enable greater efficiency and automation of processes and transactions. The UK’s Law Commission has confirmed that existing laws in England and Wales are able to accommodate and be applied to smart legal contracts, thus removing the existing legal uncertainty of using these digitally programmable instructions. Will this result in greater adoption of smart contracts and Blockchain technology as a whole?

Blockchain in the property sector - according to Savills, the value of residential real estate s is $258trillion and $32trillion for commercial property, yet still relies on paper- based analogue systems and processes. Blockchain technology offers the promise of radically improving the efficiency of property transactions, but there are challenges to be faced to make Blockchain-powered platforms the dominant way on which to buy and sell real estate.

Metaverses: who will govern the new digital reality? - Since late October, when Facebook announced its change of name to Meta, the term "metaverse" has been increasingly present in our vocabulary. In its current meaning, metaverse generally refers to the concept of a highly immersive virtual world where people gather to socialise, play, and work. Thanks to new technologies, these virtual environments will become increasingly immersive, allowing us to expand our reality. Therefore, it is not difficult to imagine that we will soon be spending long periods of time in these new virtual worlds. It is precisely for this reason that we must spend some time reflecting on the legislation and democracy of these new worlds: who will govern the new digital reality: big corporations, or citizens?

A Five-step Framework for Addressing Gaps and Inconsistencies of Digital Currency Compliance Laws - the global user base of cryptocurrencies increased by nearly 190 percent between 2018 and 2020. The future of digital currencies looks bright with cryptocurrencies and blockchain tech as a whole slowly gaining acceptance in wider financial markets. However, there seems to be few nations with a comprehensive legal basis for the existence of different types of crypto assets. How about we explore the gaps and inconsistencies that we, as a community, need to address and resolve?

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