Reading and writing the word of the law, but judging according to the spirit of the law - how does this apply to code for legal frameworks? We already have plenty of institutions that allow you flexibility to have your problem adjudicated in front of an impartial judge or a jury of your peers. Law students will leave believing in the spirit of the law and be gradually ground down in the system of prosecution and courts until eventually they don't believe in anything other than winning the case. We are now looking at building systems where the outcome is known based on the formula of a neutral contract. It will not always work, sometimes it will backfire badly and we will have another DAO-saster. How can law create a safety net? The worst case is that a smart contract fails and then parties in the contract geo-locate each other to sue them in whatever court they choose at the time. New York Convention on Arbitration, an international treaty that allows you to claim independent legal arbitration within a private system of law in 156 countries. Distinguishing between use and abuse of the system with normative judgement. In a system that has no spirit of law, only rule, there is no distinction between use and abuse; if the consensus algorithm allowed it, it is not abuse. The lesson of TheDAO wasn't "do we fork or not fork?", it was that you don't put $150 million in an untested contract, you idiots! That is a lesson that is self-correcting because people got hurt. The caveat of these new systems is that they are free-market, collaborative, voluntary participation: caveat emptor - "buyer beware."
Is it true that "accounting jobs will be gone in five years because of smart contracts"? The jobs will not be gone, they will be radically transformed. If you don't embrace this new technology, or you fight it, you will find yourself in a smaller and smaller niche that is less important to the rest of the world. Smart contracts are neither "smart," nor "contracts." They are programs which are rather 'dumb.' Decentralisation is a powerful force and we are living the century of decentralisation.
Chapters
0:00 My youngest brother, he is a professor in law. He teaches his students to read the word of the law, write the word of the law, but judge according to the spirit of the law. When we look at these new technologies, like distributed ledgers and Ethereum smart contracts, suddenly we're faced with the dilemma where you have to decide who is judging the spirit of a piece of code. So if you look at it from that perspective maybe national, maybe regional, maybe global. Is a legal framework necessary, preemptively? If so, how urgent is that?
2:02 How can law create a safety net?
3:46 What if it's not the consensus algorithm, but in the use, or rather abuse, of the system?
The first question is from a talk which took place on October 26th 2016 at the Blockchain Meetup in Zürich, Switzerland:
https://www.meetup.com/Zurich-Blockchain-Meetup/events/233058629/Watch the full talk here:
https://youtu.be/3NqDNetEqmIThe second question is from a keynote talk which took place on October 19th 2016 during the Bitcoin Wednesday Meetup at the Eye Film Museum in Amsterdam, Netherlands:
https://www.meetup.com/BitcoinWednesday/events/234498117/Watch the full talk here:
https://youtu.be/P6F1vTG_hA0Learn more about the intersection of cryptocurrencies and law:
https://www.thirdkey.solutions/events/RELATED:
Advanced Bitcoin Scripting -- Part 1: Transactions & Multisig -
https://youtu.be/8FeAXjkmDcQAdvanced Bitcoin Scripting -- Part 2: SegWit, Consensus, & Trustware -
https://youtu.be/pQbeBduVQ4IAndreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and well-respected figures in bitcoin.
Follow on Twitter: @aantonop
https://twitter.com/aantonopWebsite:
https://antonopoulos.com/He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.
THE INTERNET OF MONEY, v1:
https://www.amazon.co.uk/Internet-Money-collection-Andreas-Antonopoulos/dp/1537000454/ref=asap_bc?ie=UTF8MASTERING BITCOIN:
https://www.amazon.co.uk/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042[NEW] MASTERING BITCOIN, 2nd Edition:
https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388Subscribe to the channel to learn more about Bitcoin & open blockchains!
If you want early-access to talks and a chance to participate in a monthly LIVE Q&A with Andreas, become a patron:
https://www.patreon.com/aantonopMusic: "Unbounded" by Orfan (
https://www.facebook.com/Orfan/)
Outro Graphics: Phneep (
http://www.phneep.com/)
Outro Art: Rock Barcellos (
http://www.rockincomics.com.br/)
Join the aantonop Channel:
https://aantonop.io/joinaantonopytAbout the Site 🌐
This site provides links to random videos hosted at YouTube, with the emphasis on random. 🎥
Origins of the Idea 🌱
The original idea for this site stemmed from the need to benchmark the popularity of a video against the general population of YouTube videos. 🧠
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Obtaining a large sample of videos was crucial for accurate ranking, but YouTube lacks a direct method to gather random video IDs.
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Creating Truly Random Links 🛠️
The YouTube API offers additional functions enabling the discovery of more random videos. Through inventive techniques and a touch of space-time manipulation, we've achieved a process yielding nearly 100% random links to YouTube videos.
About YouTube 📺
YouTube, an American video-sharing website based in San Bruno, California, offers a diverse range of user-generated and corporate media content. 🌟
Content and Users 🎵
Users can upload, view, rate, share, and comment on videos, with content spanning video clips, music videos, live streams, and more.
While most content is uploaded by individuals, media corporations like CBS and the BBC also contribute. Unregistered users can watch videos, while registered users enjoy additional privileges such as uploading unlimited videos and adding comments.
Monetization and Impact 🤑
YouTube and creators earn revenue through Google AdSense, with most videos free to view. Premium channels and subscription services like YouTube Music and YouTube Premium offer ad-free streaming.
As of February 2017, over 400 hours of content were uploaded to YouTube every minute, with the site ranking as the second-most popular globally. By May 2019, this figure exceeded 500 hours per minute. 📈
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