Society’s attitude towards the technology sector has changed as technology has become intricately woven in our daily lives. This change in perspective and the accelerated rate with which we have come to rely on technology due to the pandemic has made it necessary for a new approach in regulation as well. In this episode of TMT Talk, Raffaele Giarda, Ben Allgrove and Sue McLean have a thought-provoking conversation about the shift in attitudes to disruption in the sector, how the…
The UK Government Department for Digital, Culture, Media & Sports (DCMS) has announced plans to introduce a new law aimed at ensuring that internet-connected products are secure by design, and protecting users from the threat of cyber-attacks. The proposed new law, announced by DCMS on 27 January 2020, will require that: all consumer internet-connected devices have unique passwords that are not resettable to any universal factory setting; manufacturers of consumer internet-connected devices provide a public point…
An expert legal statement was published by the UK Jurisdiction Taskforce (UKJT, a taskforce of the UK’s Lawtech Delivery Panel) on recognising cryptoassets as property and smart contracts as enforceable agreements under English law. The two key takeaways: In principle, cryptoassets are to be treated as property under English law.A smart contract is capable of having contractual force. For more details, read the full article on Baker McKenzie’s dedicated blockchain blog.
Japanese cryptocurrency exchange CoinCheck confirmed on 26 January 2018 that it has been the victim of a massive hack, resulting in what would appear to be the largest cryptocoin theft of all time. In a press conference CoinCheck admitted that the current understanding was that the hackers had stolen around 523 million of the exchange’s NEM coins which, at the time of detection, were worth around $534 million. This would surpass the $400 million worth of…