As an attorney, a teacher, and a smart contract enthusiast-Cynthia Gayton is the perfect guest to join Corey Petty and talk about bitcoin and blockchain technology, from a legal perspective. They discuss the current laws as well as speculate on the laws that could be introduced. These two are peas in a pod when it comes to bitcoin’s blockchain and the future of decentralizing everything. This interview is like an audio tour through the digital wild west, that we call the blockchain. Don’t fret, deputy Petty is on patrol.
“It’s a buyer beware.”
We’re living in a world where no one reads the terms and conditions to anything, yet blindly agrees to everything. We desperately need laws put in place to protect the PABS. If things go as planned with crypto, everyone will be using smart contracts but not everyone will be smart. Luckily for them, we can rest assured the legal understanding of this technology will someday be easily digestible, or so we hope.
“There’s always good and bad with these things.”
As we moved into this digital era our money has hilted to the point of stunting our overall growth. Cynthia has a few golden examples of how even in this day of age, it can be troublesome to make even a simple purchase. Plus, her legal education gives her foresight into the inevitable ramifications users will eventually brick wall into. Just imagine…everyone using altcoins, mobile wallets and exchanges and the lack of reading terms and agreement. People will be taken advantage of, just like the early days of Visa and over phone payments.
To protect those people, we need to, as the pioneers, make sure laws are put in place.
“If you can’t afford the risk, don’t”
There are not a lot of conversations like this going around, certainly not enough anyway. Where we hear about the problems blockchain produces as well as the solutions it provides. People are being taken advantage of, daily. This interview covers bitcoin from all perspectives, but most importantly it’s education. Come learn about the risks that you’re taking by partaking in this experiment. To easy your concern, Corey and Cynthia expose the shysters.
Can you explain bitcoin in ten words or less?
“Resurrection of trading and value on a customer level”
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