Thank you very much Iñigo Coello de Portugal Martínez del Peral and Blockchain Arbitration & Commerce Society!
BACS is an association that promotes the use of blockchain technology and crypto assets among commercial enterprises. Do you believe we are witnessing a new era in business, primarily international commerce? Should companies be aware of the advantages this technology can bring them?
There is no new era in business, but there is in the way transactions are structured. The monetary asset is changing (patterns like bitcoin), and the way of trading (tokenization, or securitization, as you may call it) of physical and electronic assets is evolving. Commercial law will significantly evolve to account for these new credit instruments. Just as there was a Uniform Law of Geneva, there will be one on tokens. It will emerge from reality, not the other way around. Companies will adapt on their own once they see the advantages. It won’t take long. Schumpeter is always right. With new forms of productivity, entrepreneurs will emerge who will achieve wealth. Let’s hope, however, that politicians leave us alone. Public law only wants to control, not produce, and is usually designed by fools. Countries that adopt DeFi patterns will be free. Those that centralize will also be more oppressive. Read and reread Nakamoto’s “Bitcoin: A Peer-to-Peer Electronic Cash System.” The essence of the matter is not in cryptography. It is in Peer-to-Peer. That is the essence of freedom. It is not about hiding anything. Encryption is necessary for the functioning of the chain. The electronic money system lies in the community that dispenses with a central authority. It is not rebellion. It is another way of organizing society. Companies are not outside of society. And it is in freedom where money is found. In the State, there is only the Treasury. There is no productivity. There is no creation. Only the distribution of what is created.
Do you not think that for a company, being able to use these new technologies and have the support of an International Arbitration Court adds a layer of security and legality?
It is a necessity, pure and simple. Behind every token, including monetary ones like Bitcoin, there is only technology. But underlying the token is the business, which is legal, not technological. An example: a tokenized shipping container can be traded in two ways: with “old-fashioned” bills of exchange or with tokens. Both worlds can have dysfunctions: fraud, double sales, errors, penalties, interests, executions, deterioration, losses… The law is there to solve these problems, not just the technological ones. They come with the token. Because the valuable asset is not the token, but what the token represents. That’s where the law is, where it has always been. It’s commercial law. The merchandise travels protected by a contract.
#arbitration #blockchain
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🔗 ¡Nueva Entrevista! 🔗
Estamos encantados de compartir nuestra última entrevista con Iñigo Coello de Portugal Martínez del Peral, Presidente de la Corte Arbitral de BACS, publicada en nuestra web. En esta conversación reveladora, Iñigo aborda el papel crucial del arbitraje en los sectores de cripto y blockchain, que están en constante evolución.
Conozca más sobre su impresionante carrera, su rol en BACS y los desafíos y oportunidades únicos en el mundo del arbitraje cripto. ¡No te pierdas esta entrevista exclusiva!
👉 Lea la entrevista completa aquí
#Arbitraje #Cripto #Blockchain #BACS #LegalTech #Innovación
🔗 New Interview Alert! 🔗
We are thrilled to share our latest interview with Iñigo Coello de Portugal, President of the BACS Arbitration Court, published on our website. In this insightful conversation, Iñigo discusses the pivotal role of arbitration in the rapidly evolving crypto and blockchain sectors.
Learn more about his impressive career, his role at BACS, and the unique challenges and opportunities in the world of crypto arbitration. Don't miss this exclusive interview!
👉 Read the full interview here
#Arbitration #Crypto #Blockchain #BACS #LegalTech #Innovation
![Entrevista a Iñigo Coello de Portugal, Presidente de la Corte de BACS - Blockchain Arbitration & Commerce Society | BACS]()
Entrevista a Iñigo Coello de Portugal, Presidente de la Corte de BACS - Blockchain Arbitration & Commerce Society | BACS
https://bacsociety.com
