This year’s C1B3RWALL Academy 2021/22 is packed with fascinating lectures. We have already started Module 14, this time the speakers will address the topic of Legaltech.
Legaltech refers to the application of technologies in legal services. Xavier Foz Giralt from Roca Junyent, Pablo Fdez. Burgueño from PWC, Pedro T. Nevado-Batalla from the University of Salamanca, María Cecilia Dómine from the University of Montevideo, Duvi Teixidor from Poder Judicial Uruguay, from Colombia, Pablo Rodríguez Cárdenas from Rics management and Vanessa Jiménez from the UOC Universitat Oberta de Catalunya share with us very interesting presentations, where besides going deeper into this topic, they also introduce us to the world of blockchain, legal aspects, cryptoassets, some regulatory proposals or cybercrimes in cryptoassets.
Impact of blockchain on the financial system
One of the keynote lectures of this module is given by Vanessa Jiménez Serranía, she is a professor at the Universitat Oberta de Catalunya and in recent years has worked in several international law firms, focusing her legal practice on competition law, intellectual and industrial property, banking law and new technologies.
Vanessa explains that blockchain technology is centralized, which supposes a revolution in the field of financial law, since it produces a disruption in the traditional centralization of the financial system. From this centralized system we move to a distributed registry structure where there is no central authority. It provides great security in the traceability of transactions and speed of execution, which provides reliability.
Blockchain has a number of benefits, challenges and functions in the financial system:
- Benefits: trust, ease of asset sharing, privacy, seamless organization, smart contracts, reduced transaction costs….
- Challenges: exchange vulnerabilities, security incidents, regulatory problems, absences, interoperability…
- Functions: possibility of point-to-point transmissions, ownership of user data, privacy protections…
Undoubtedly, blockchain offers an interesting panorama, especially its legal aspects, where Vanessa, as an expert, brings us closer to the reality and future of this technology. You can view the full presentation on the e4you website. Also, it is possible to deepen this knowledge by doing the Master in Blockchain and Smart Contracts of the University of Salamanca where she also participates as a teacher.