Building a Future Economy on Sand?

Building a Future Economy on Sand?

The greatest flaw with the current focus on blockchain and DLT in the UK and Scotland is that it is mainly supporting technical development and pin-point applications.

Where is the push to transform the legal framework to support a token economy?

Without that, we will always be building on sand, and where proper digital signing and the trading of tokens will have very little legal basis. Our legal and regulatory systems thus need to catch-up fast, and accept public key signing, the implementation of smart contracts, and the trading of tokens.

The best objectives I can find for this is defined in the Blockchain Act in Liechtenstein…

enable the transformation of the ‘real’ world to blockchain systems while ensuring legal certainty, thereby opening up the full application potential of the token economy.

In the UK, there has never been so many risks for the stability of our future generations, and we must do everything possible to put in-place a digital economy which is fit for the 21st Century. It is only by supporting the legal framework for a truly trusted digital infrastructure can we build a completely integrated economy, and where tokens can flow in the same way that our financial systems operate.

I urgent leaders in law and in governments to follow countries like Liechtenstein and give us a foundation which is solid and which protects us against major risks, while promoting innovation. Here’s a related article: