SXSW 2019
Trusting the Blockchain
Description:
Blockchain systems and cryptocurrencies are going to change the world. They are also deeply misunderstood, and wildly overhyped. THE BLOCKCHAIN AND THE NEW ARCHITECTURE OF TRUST offers a penetrating, balanced analysis of what’s really going on. If cryptocurrencies and the blockchain represent alternatives to trusted institutions, what makes THEM trustworthy? What happens when things go wrong? (Which they have. Often.) Given how easy it is to declare, “There’s a blockchain for that!” when does a blockchain actually add value? Can decentralized, global systems based on immutable enforcement of software-based smart contracts be reconciled with government-issued law and regulation? Should they be? Is governance possible with decentralization…and is decentralization possible without it?
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Takeaways
- The meaning of trust. Why blockchain doesn't eliminate it, and actually recreates trust in a new form with its own benefits and limitations.
- Blockchain and the legal system aren't necessarily enemies. In fact, most of the time they will coexist and reinforce one another.
- What everyone misunderstands about the famous statement that "code is law." And why overcoming that mistake is essential to the blockchain's success.
Speakers
- Kevin Werbach, Professor of Legal Studies & Business Ethics, Wharton School, University of Pennsylvania
Organizer
Kevin Werbach, Professor, Wharton School, University of Pennsylvania
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