There are few things more complex than Blockchain and crypto legislation, especially when it comes to getting laws passed that will bring about adoption.
BTCManager speaks with Robin Matze, a blockchain lawyer and advisor to the German government about how to get those in positions of power to embrace blockchain and why blockchain education might not be needed in the way you think.
What do you think has caused countries in Europe to become much more serious about Blockchain?
I believe that, as more and more enterprises begin to adopt blockchain technology, member states are beginning to recognize its incredible potential and realising how it could impact their infrastructures and economies. In addition, many of the foremost innovators in the space are European or based here, and the size of the market and the emerging industry around it, in addition to its continued growth and potential has really made people sit up and take notice. The combination of these factors is why we are seeing countries take a more serious approach to blockchain and I am happy to see it happening.
The law aspect of blockchain is still quite murky and regulations are shaky across the globe. What can be done to improve on the legal aspect of Blockchain?
Fragmentation of the law is a consequence of decentralized, national regulations. That is not necessarily bad — it encourages competition to actually improve the law. However, at least from my point of view and with special regard to the German and European legal system, blockchain does not really cause too much trouble. During the time of ICOs, there was a problem with circumventing existing regulation. This approach is always “shaky” and “murky” as we now observe with certain projects who turn out to have violated compliance.