Article: Hybrid smart contracts will replace the legal system

Blockchain, Governance, Innovation

Hybrid smart contracts will replace the legal system

Unlike traditional contracts, smart contracts are executed by the blockchain, which means that no external court system is required to execute the contract. Without an expensive court system, contracts would be cheaper, so more peer-to-peer transactions can be managed by contracts rather than trust.

Contracts between companies located in different countries are often challenging because of the high cost of navigating in different court systems, and often the judicial system of one country has limited powers over companies in other countries. Hybrid smart contracts do not have this weakness; they cannot see nationality at all.

Enforcement of traditional contracts through the courts is not only costly, but also brings uncertainty to the results. The lawyer will always have the opportunity to discover some mysterious loopholes buried in the basement of the haunted house, making the contract completely invalid. Even if the contract is impeccable, the contracting parties rely on the continued goodwill of the government to ensure that the contract is executed.

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Article: Specialized workforce needed as crypto and blockchain courses enter colleges

Academia, Blockchain, Crypto

Specialized workforce needed as crypto and blockchain courses enter colleges

Although useful, it may take some time for all major universities and colleges to start offering blockchain and cryptocurrency courses. For example, Lupien noted that limited resources are a challenge for universities looking to expand their curriculum. “As a nascent technology, there are few faculty that have both the academic credentials as well as the experience to effectively teach this technology — but that is changing rapidly,” Lupien said.

Moreover, students might question the relevance of these courses due to the fact that crypto and blockchain aren’t entirely mainstream. Piergiacomo Palmisani, vice president of the Blockchain Acceleration Foundation — a nonprofit organization helping universities incorporate blockchain curriculum — told Cointelegraph that for students, the challenge is to get them interested enough to choose a career in blockchain over a safe and well-paid job in tech, finance or any other field. “I believe that, as more success stories come out of the crypto industry, students will be more attracted to it,” he said.

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Article: Could DeFi-powered banks become an unstoppable force in finance?

Crypto, Decentralized Internet, Money

Could DeFi-powered banks become an unstoppable force in finance?

A collaboration means that banks get much-needed support when it comes to modernizing antiquated systems and updating the suite of services that they offer. Meanwhile, DeFi protocols benefit from a usability perspective — accessing the interfaces that most consumers are already accustomed to. Combining the best of both worlds also gives decentralized finance protocols a chance to reach a broader cross-section of customers, including those who may have felt shut out beforehand.

DeFi platforms that partner with a licensed bank can support fiat currencies and digital assets alike — spanning USD, GBP, EUR, CAD, CHF and ETH, Wrapped Bitcoin and stablecoins. Fees can be dramatically reduced, and a more seamless on-ramp from fiat to crypto serves as a much-needed boost for adoption.

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Article: The chicken or the egg: Why NFTs could be fungible after all

Crypto

The chicken or the egg: Why NFTs could be fungible after allThe chicken or the egg: Why NFTs could be fungible after all

Among the many offshoots produced as a bi-product of the ongoing cryptocurrency experiment, nonfungible tokens have turned out to be one of the most explosive. In a few short months, over half a billion dollars worth of NFTs changed hands, as celebrities (from lists A to Z) clamored to profit from crypto’s latest craze.

But amid the rush to jump on the bandwagon, few have stopped to consider the veracity of the terminology applied to NFTs. After all, why would you stop to ponder semantics when there are millions of dollars to be made at the click of a button?

But in lieu of said millions, we decided to ask the question: Are nonfungible tokens actually a little bit fungible after all?

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Article: Evolving the DAO: How decentralized companies can dominate Web 3.0

Blockchain, Web 3.0

Evolving the DAO: How decentralized companies can dominate Web 3.0Evolving the DAO: How decentralized companies can dominate Web 3.0

Decentralized autonomous organizations — known as a DAO for short — have become a mainstay of the crypto world.

The rationale behind DAO is to enable companies and organizations to fully function without the need for a hierarchical management structure. As this Cointelegraph guide explained, it’s like a vending machine delivering a snack in exchange for a bundle of coins — and then automatically using those funds to reorder stock. There’s no need for human involvement in keeping the machine running, as all of the processes it needs to function are pre-written into code.

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Article: The Eco-Friendly Evolution of Bitcoin Over the Years

Crypto

The Eco-Friendly Evolution of Bitcoin Over the Years

A recent report found that bitcoin mining is surprisingly eco-friendly. This is an important factor to keep in mind when making purchases. Many people don’t consider the environmental impact of the currencies that they use, but they can be quite significant.

Bitcoin is currently the most coveted cryptocurrency in the world, so it is good to be aware of its environmental footprint. Nearly everyone is familiar with the incredible benefits it can bring its users and the immense money-making potential it carries because of its volatility.

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