The blockchain economy: Insights from global experts
Credit: RMIT Europe
Leading European and Australian experts shared their insights on the disruption that blockchain is delivering to industry, the public sector and the legal ecosystem at a recent RMIT University blockchain seminar in Europe.
Blockchain specialists on the panel included Montse Guardia Güell, General Manager, Alastria Consortium and President, Quantum Blockchain Alliance; Marc Rocas, President of the Blockchain Catalonia Association; and Andrea Ortega, Privacy and Technology Lawyer at Cuatrecasas.
The seminar was opened by RMIT’s Professor Jason Potts – the researcher behind the world’s first research centre on the social science of blockchain.
Here the panellists share their insights.
1. Processes must be re-engineered
“The opportunities are huge because we just started – this is just at the beginning of the big bang so we need to understand the technology and how we re-engineer processes. And once we know that, and knowing that this is a new network that is decentralised, the huge volume of new business cases will be enormous. It will be big. Big in terms of business and big in terms of social impact.”
Montse Guardia Güell
General Manager of Alastria Consortium and President, Quantum Blockchain Alliance
2. A second chance for social equality
“We have a second opportunity with blockchain to provide a better and more equal society with a better redistribution of wealth. I wouldn’t like that this is understood as I’m excluding an economic sector or our systems of capitalism or how it’s working – it’s just the opposite. I think that companies need to find their place in a new type of economy as well as the value that they’re adding to new value chain systems.”
President of the Blockchain Catalonia Association
3. Understanding the legal validity
“Blockchain is transversal to all sectors and it’s particularly interesting in the legal sector. We have to analyse what are the legal implications and challenges that are posed with this technology and study the legal validity of the blockchain infrastructures, smart contracts and tokens.”
Privacy and Technology Lawyer at Cuatrecasas