Asset Tokenization & Legal Implications
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by M|L|B
2y ago
From the beginning of blockchain technology appearance there were many discussions about transfer possibilities of ownership rights to the blockchain. It came true by developing asset tokenization and issuing security tokens. Tokenization as such is the process of converting an asset, or ownership right over an asset into a token that can be moved, recorded, or stored on a blockchain system. [1] In other words, by using tokenization people strive to gain more liquidity of its property. Given to blockchain technology which makes possible the trading of items that don’t really lend themselves to ..read more
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Legal Aspects of Smart Contracts (p.2)
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by M|L|B
2y ago
1. What is a Smart Contract? According to an opinion smart contract is a special protocol intended to contribute, verify or implement the negotiation or performance of the contract.[1] The key element of smart contracts as well as one of most attractive things is opportunity to perform reliable transactions without intermediaries or any third parties. These transactions are trackable, transparent and irreversible. Smart contracts contain all the information about the contract terms and execute all envisaged actions automatically.[2] According to another opinion smart contracts are self-executi ..read more
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Blockchain: Legal Regulations vs. Utility (p.2)
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by M|L|B
2y ago
I. Intro In simple terms Blockchain is a huge digital database running on the Internet for recording[1] various types of information. It represents a performant distributed technology tool for keeping unaltered information about any kind of transactions or any other information, providing a reliable degree of trust that information will be secured and unaltered. In case of blockchain, each participant maintains, calculates and updates new entries into the database.[2] Before a transaction is considered valid, it must be authorized by each participant of its constituent nodes through the consen ..read more
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Tokens: Digital Assets or Securities?
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by M|L|B
2y ago
     1. What is Token? Blockchain technology completely revolutionized traditional ways of raising funds by business, especially by startups through launching Initial Coin Offerings (ICO). A real boom of ICOs has risen last year, attracting more and more companies into blockchain revolution and issuing own tokens as instruments for easy investment. Given to this new twist of technology development companies involved in launching ICOs have raised millions using new crowdfunding method. Due to many scams and lack of regulations investors’ legal interests happened to be uncovered o ..read more
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Smart Contracts: Legal Side (p.1)
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by M|L|B
2y ago
Most likely the best thing the Blockchain brings is decentralized technology allowing all the connected participants to have access to existing information records (in case of public Blockchain) and be well informed when it comes to transparency issues. Thanks to decentralized system there is no need to have intermediaries in many transactions, and using Blockchain you save time, money, and benefit of more secured system than traditional ones. Based on aforementioned new technology smart contracts have appeared, bringing a new evolution step in enforcement of the matter was negotiated eliminat ..read more
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Blockchain: The Legal Side (p. 1)
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by M|L|B
2y ago
     1. What is Blockchain? The simplest way to explain blockchain is that it is a decentralized technology for recording information including transactions, property rights, identities, money balances, etc.[1] Particularly, blockchain is a huge list of records containing information known as “blocks”, which are linked to each other by a code “hash” and secured using advanced means of cryptography. Blockchain represents a high-performance tool for maintaining integrity of information, specifically about any kind of transactions, providing a reliable degree of trust that inf ..read more
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E-Lawyers go to the Cloud
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by M|L|B
2y ago
  What is the Cloud? Most likely there are no people who haven’t heard about cloud technology, but not so many have asked themselves about what exactly is that? The cloud is an information technology and software applications that allow keeping data stored remotely, or separate from the device being used, and can be accessed securely by using the internet connection from anywhere. Most relevant examples, familiar to most of us are Google Drive or Dropbox. You have 24/24 access to your files and data from any computer or device if you have an internet connection and you are logged into you ..read more
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US Supreme Court rejects appeal over Confederate Emblem on Mississippi Flag
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by M|L|B
2y ago
The U.S. Supreme Court rejected an appeal challenging the use of a Confederate battle emblem on the Mississippi state flag. The application was submitted by an African-American lawyer who said that the emblem on the Mississippi flag is “an official endorsement of white supremacy” and “unconstitutional relic of slavery”. According to the petitioner’s opinion, the confederate battle emblem on the current official state flag of Mississippi “encourages or incites private citizens to commit acts of racial violence in violation of the Equal Protection Clause of the 14th Amendment.”. In this res ..read more
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Sweden Supreme Court rules against growing “pot” to self-medicate
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by M|L|B
2y ago
Sweden Supreme Court ruled, in a case of a man with spinal cord injury, that it is illegal to grow cannabis to self-medicate even there was an emergency situation. According to the judgment he was fined kronor 5200 (around $616) for growing and consuming the oil of the plant. Anders Thörn was paralyzed from the chest downwards after injured his spinal cord in an accident in 1994. Following the pain got worse, and medical treatments became ineffective, Mr. Thörn started growing cannabis in his house, which he ingested as an oil. He suffers from cramps and difficult neuropathic pains that occur ..read more
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Russia can suspend its membership in ECHR
M|L|B
by M|L|B
2y ago
  The Russian Federation can suspend its membership in the European Court of Human Rights (ECHR) and also is considering to reduce contributions to the Council of Europe. This is the reaction of certain top Russia’s officials after Russian delegation to the Parliamentary Assembly of the Council of Europe (Assembly) was deprived [1] of key rights in April 2014, including the right to vote and take part in the Assembly’s governing bodies following the annexation of Crimea from Ukraine. The sanctions will affect the right of Russian delegation from participation in the approval of the Counci ..read more
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