How does the legal industry join the blockchain
blockchain is a new application mode of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies. It is decentralized, tamper proof, traceable, collective maintenance, open and transparent. These features ensure the "honesty" and "transparency" of the blockchain, and lay the foundation for creating trust in the blockchain. The rich application scenarios of blockchain are basically based on blockchain, which can solve the problem of
blockchain technology can protect electronic data, prevent tampering, and leave traces of data operation in the whole life cycle of electronic data generation, collection, transmission and storage, so as to provide an effective means for relevant institutions to review. Using blockchain technology to store and issue electronic evidence is the basis of the application of blockchain technology in the legal field
in the early stage, we took the lead in the instry to set up a blockchain team, invested in the research of cryptography, distributed ledger storage structure, consensus mechanism and other core underlying technologies of blockchain, and explored the application scenarios of blockchain technology in the legal science and technology instry. At present, we mainly apply blockchain technology in the field of electronic data distributed deposit, including contract deposit, e-mail deposit, e-mail deposit, e-mail deposit, etc Document storage, structured data storage, etc
in the future, we will also make use of blockchain technology to better serve the already mature electronic contract business and the rapidly developing network arbitration business, and try more blockchain for legal science and technology, so as to promote the application of blockchain technology in the field of judicial or legal services on the premise of protecting the security and confidentiality of all parties' systems
the current blockchain project compliance is divided into two sections:
first, blockchain coin issuing project compliance: Foundation + legal compliance opinion
often referred to as ICO, IEO, etc. first of all, we build overseas entities. Generally speaking, most coin issuing entities choose Singapore foundation. It is a non-profit company in the form of XX Foundation Ltd. Finally, a legal compliance opinion is issued by a Singapore lawyer. The content of the legal opinion includes the amendment of a white paper and the token non securitization certificate, which is mainly to make the project comply with the laws of Singapore. This legal opinion is also needed for the later docking of the project with the currency on the exchange< Second, blockchain exchange project compliance: subject company + digital currency trading license:
license is one of the important compliance documents of the platform. It is equivalent to a business license. In particular, after Huoyuan won the Japanese license, the US license and applied for the Canadian license, the license was pushed to a new height. Obtaining the US MSB license also means that the company can reasonably conct business in most states of the United States. This is the reason why the major platforms have started to apply for licenses. If they want to carry out business formally and legally, they have to apply for licenses
for example: MSB digital currency exchange license in the United States, MTR digital currency + Wallet al license in Estonia, austrac digital currency license in Australia, etc
the role of MSB license in the United States:
1. American MSB license is famous, packaging platform and good publicity
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3. It can increase the trust of customers, enhance their visibility, and make the platform develop better and faster in compliance
advantages of MSB license
1. Investor recognition - Corporate Law and financial instry regulation in the United States are very perfect. With a U.S. license, your digital currency trading platform will be more recognized by global investors
2. Get authoritative approval - with the authoritative approval of the U.S. Treasury Department, you can carry out relevant business in the United States and around the world, which represents the compliance supervision of digital currency platform
3. Become a first-line platform -- MSB license is also a standard license for global digital currency trading institutions. Coinbase, bitfinex, poloiex, hotcoin.com, OK, coin security exchange and other platforms all hold this license to operate
4. Diversified services - MSB license allows currency exchange and delivery services, so that you can better meet customer needs and provide more diversified services
why is the license so important for the trading platform? First of all, people in the traditional foreign exchange circle know that the foreign exchange platform has the importance of supervising the license. Even such a traditional mode will create a future trading platform. Therefore, the license plate is bound to become a trend of development
after registering the main body of the foundation, we still need to do later legal compliance, the main purpose is to draw a clear line between law and crime, but I said it doesn't count. Because digital token is indispensable for blockchain. To put it bluntly, digital currency drives the popularization of blockchain in China, but what's the fact? Digital currency is just a small application of blockchain technology
e to the particularity of the instry, At present, there are no formal laws and regulations to restrict its development, involving a wide range of violations:
pyramid selling
illegal fund-raising
money laundering
absorbing public deposits
illegal operation
transnational foreign exchange crimes
providing more convenience for terrorist financing
therefore, different countries in the world have different attitudes towards blockchain, and China is explicitly prohibited, So we all go overseas to develop projects, such as Singapore and Thailand. First, the local laws and regulations are required. Who has the final say in the matter of whether the project is legal? There are two ways: to apply for a formal digital transaction license or to rely on a legal opinion issued by a lawyer. At present, the latter is in the majority, easy to operate and low cost.
Using blockchain technology to store and issue electronic evidence is the basis of the application of blockchain technology in the legal field
in the whole life cycle of electronic data generation, collection, transmission and storage, blockchain technology can protect electronic data, prevent tampering, and leave traces of data operation
using blockchain technology to preserve electronic evidence, the electronic data that needs to be deposited is recorded in the form of transaction, stamped with time stamp, and recorded in the block, so as to complete the process of data preservation and deposit. In the process of data storage, multiple participant nodes witness together and maintain a distributed ledger, which greatly reces the possibility of data loss, tampering and attack
the combination of blockchain and electronic data storage can rece the cost of electronic data storage, facilitate electronic data collection and evidence identification, and improve litigation efficiency
what is a legal opinion? In fact, legal opinions are a general term. They actually include four aspects
1. White paper compliance
2. Token non securitization certification compliance
3. Private placement terms compliance
4. Public offering compliance
mainly focuses on these four aspects
As an E-contract platform that focused on blockchain technology as early as 2015, we have taken the lead in the instry to set up a blockchain team in the early stage, invested in the research of cryptography, distributed ledger storage structure, consensus mechanism and other core underlying technologies of blockchain, explored the application scenarios of blockchain technology in the legal science and technology instry, and cooperated with a number of domestic authoritative judicial appraisal institutions and The notary office has set up a certificate storage alliance chain. At present, the legal department mainly applies blockchain technology to the field of electronic data distributed certificate storage, including contract certificate storage, e-mail certificate storage, document certificate storage, structured data certificate storage, etc
revenge
1. We can negotiate with the infringer through legal channels rationally
negotiate and settle with relevant contracts and agreements (including but not limited to oral and transaction records, etc.). When necessary, it can entrust a lawyer to issue a lawyer's letter and other non litigation channels to negotiate
2. Report, complain, appeal and mediate to relevant management departments
through legal services, legal aid, application for arbitration and litigation. ① Civil litigation; ② Criminal procere; ③ Administrative litigation
for example, through law firm, notary office, legal service office, legal aid center, etc
investors file lawsuits or apply for arbitration according to the contract, and apply for (pre litigation) property preservation when necessary, so as to ensure the smooth implementation of the case after the trial. We should actively cooperate with the relevant departments and courts to investigate and collect evidence, and provide effective property clues, so as to seal up and freeze the relevant assets of the infringer / institution as soon as possible, and effectively avoid the behavior of hiding or transferring property ring the period of safeguarding rights
hire professional lawyers to help, hire lawyers to assist in the investigation and collection of evidence, and cooperate with the public security organs and courts to promote the progress of the case
3. Internet courts have been set up in Beijing and Hangzhou, graally improving the relevant online trial platform to provide rights protection channels for obligees
through online trial, the whole process of online trial is the basic principle, that is, the litigation links such as case acceptance, service, mediation, evidence exchange, pre-trial preparation, trial and sentencing should generally be completed on the Internet. This provision helps to promote the deep integration of trial methods, litigation rules and Internet technology, provide litigation convenience to the parties, improve judicial efficiency, and adapt to the new needs and expectations of the people in the Internet era.