Support the show, consider donating: 17uszypdbeFaLgvmJAg23pLJYYhb5Wbp5z (http://bit.ly/2ar52EB) Blockchain smart contracts are self-executing contracts composed of computer code. These programs, which are executed by the entirety of the network, enforce the rules described within the code. Effectively, in this realm, code is law. And as we've seen recently, altering the outcome of that code after it has been deloyed, should we later realize that it was flawed or did not produce an intended result, can be messy. In addition, there are instances where human intervention can be necessary or even desirable. Take a mortgage agreement for example. Should a smart contract be entrusted with the responsibility of making a decision when the borrower can no longer make his payments? In cases such as this, subjective human intervention is be necessary. Scot Farrell and Claire Warren, lawyers at the global law firm King & Wood Mallesons, think that humans should not be automated out of every process. While code is logical and predictable, it cannot act reasonably or take into account certain unforeseen events. They have proposed DnA contracts (Digital and Analog), where automation can occur when absolute automation is possible, but where humans may intervene at the edges and provide input when needed. Topics we discuss in this episode: - What issues DnA contracts are trying to address - The basic concepts behind DnA contrats - The scenarios where DnA contracts may be valuable - Examples of DnA contracts applied to interest rate swaps and mortgages - How DnA contracts could be integrated with blockchain technologies - The impact of DnA contracts on legal services Links mentioned in this episode: - How to use humans to make “smart contracts” truly smart: http://www.kwm.com/en/knowledge/insights/smart-contracts-open-source-model-dna-digital-analogue-human-20160630 - DnA Contracts proposal on GitHub: https://github.com/KingandWoodMallesonsAU/Project-DnA Sponsors: - Jaxx: Wallets that Unify the Blockchain Experience Across Devices http://jaxx.io - Hide.me: Protect your privacy and personal data with a free VPN account at Hide.me/epicenter Show notes: http://epicenterbitcoin.com/podcast/142 SoundCloud: http://soundcloud.com/epicenterbitcoin/eb-142 Epicenter Bitcoin is hosted by Brian Fabian Crain, Sébastien Couture & Meher Roy. - Visit our website: http://epicenterbitcoin.com - Subscribe to our newsletter: http://epicenterbitcoin.com/newsletter - Twitter: http://twitter.com/epicenterbtc

Support the show, consider donating: BTC: 1CD83r9EzFinDNWwmRW4ssgCbhsM5bxXwg (https://epicenter.tv/tipbtc) ETH: 0x8cdb49ca5103Ce06717C4daBBFD4857183f50935 (https://epicenter.tv/tipeth) Our regulatory expert Siân Jones joined us to discuss her work on a regulatory framework for distributed ledger technology (DLT) for Gibraltar. We discuss how the framework differs from other efforts and aims to attract rather than curtail blockchain businesses. We also covered why the rapid changes require the flexibility of a principle-based approach to regulation. Finally, we discussed current trends around ICOs and how they could be impacted by regulation. Topics discussed in this episode: - How the Gibraltar DLT Regulatory Framework came about - How Gibraltar's approach differs from others like BitLicense - Why a principle-based approach is preferable for technology regulation - Why the framework focuses on custodial services, not decentralized protocols - The path from proposal to regulation - Recent trends in how ICOs are conducted - Why principle-based regulation could improve the ICO market Links mentioned in this episode: - Proposals for a DLT Regulatory Framework: http://www.gibraltarfinance.gi/downloads/20170508-dlt-consultation-published-version.pdf - Want To Hold An ICO? CoinList Makes It Easy -- And Legal: https://www.forbes.com/sites/laurashin/2017/05/18/want-to-hold-an-ico-coinlist-makes-it-easy-and-legal - Thoughts on Tokens by Balaji S. Srinivasan: https://medium.com/@balajis/thoughts-on-tokens-436109aabcbe - Tezos: https://www.tezos.ch - COINsult: http://coinsult.eu Sponsors: - Jaxx: Wallets that Unify the Blockchain Experience Across Devices - http://jaxx.io This episode is also available on : - Epicenter.tv: https://epicenter.tv/186 - YouTube: http://youtu.be/kWQFOehjp8A - Souncloud: http://soundcloud.com/epicenterbitcoin/eb-186 Watch or listen, Epicenter is available wherever you get your podcasts. Epicenter is hosted by Brian Fabian Crain, Sébastien Couture & Meher Roy.