China, Blockchain Community, Sidewise discussed on The Trader Cobb Crypto Podcast
Progress the law profession in this spice. Yeah. Definitely. I mean there is there's a ton both that blockchain can do to help the legal industry in vice versa. Right. Like, so what I will say is, you know, we're kind of building bridges between the what I called the real world or the legal world. And blockchain technology because there's a lot of missing infrastructure a lot of gaps right in. So one thing that we actually just released is a product that we call block you sign it's blocking powered e signatures right in. It's it's it seems like a very obvious thing very easy thing. But at the end of the day, you know, there's there's just a lot that hasn't been built yet that I think people, you know, need to need to look at. So the reason why we just locked launched block. You sign is because we, you know, re primarily working smart contracts space, but we had someone come up to us. That was like, hey, how do I know if I signed smart contract? Like, how do I know if my company has to smart contracting? We sat there and we were like well one does not release sign smart contract. But you know, we sat and thought about that for why we were like, hey, you, you you actually. We do need to to legitimately. No, if you have even entered into one of these things, right, especially if you're a business, you you you absolutely need that. And so we we saw that. There was a a gap avoid in. How businesses were perceiving this versus help blockchain technologies perceiving this. And so we thought you know, this is a great opportunity to demonstrate that a you can use blockchain without ever knowing that you use it. Right. And so block you saints application is like it looks just like a regular e-signature platform. Accept everything is recorded to the blockchain. There's hash in you can use that to authenticate that you sign a document later on. But Secondly, you know, there's this whole legal void about like well can block blockchain even be used to authenticate documents and actually, countries and states are passing laws around. That right now for Mont has something China has something. So we're starting to see that intrastructure gap, get filled. Another thing that I have seen a couple of other things that I've seen over the course Mike cross neutering. I think we can use this whole blockchain phenomenon to address is. You know, if you look at Crawford transactions today, I think upwards of thirty percent of cross-border transactions remain in as as unresolved disputes. Right. And there's two reasons one is because of lack of efficiency in being able to resolve those disputes. You know, if it's a a one thousand dollar transaction. Maybe it's like just not worth trying to resolve in the second thing is enforcement because even though we have these legal instruments that in theory, everyone has signed onto allows you to have enforcement any country. The truth is not all. Stories have rule of law. And by the time, you get around pursuing it maybe that, you know, factoring. China has, you know, wrapped up in moved across the street in you're never gonna be able to find them again, right in so blockchain, actually, I think represents a great platform possibly for actually enforcement of these these very colloquial transactions. And then the last thing is, you know, often as attorney I've had to sit there and for my clients they will enter into contract where they availed themselves to law in like, Australia or China or New York, or they don't know what that law is in. I don't have the time to sit there and figure out okay houses transaction can be affected by Chinese law. Right into you sign the document, and you just you move on with life, but that's actually incredibly expensive. It's very expensive way to do business. Just think about all these ICO's, right? To do a S T gas properly, you have to go in higher council in like every country in which you want to offer that token that isn't a credible amount of money and time and resources, and I just think it's crazy. And so, you know, I think there's a beautiful opportunity here where we can kind of like shift the legal paradigm part of what one part of what we're trying to do at sage wise is create this private digital jurisdiction where if you opt into it. Then everyone follows a common set of contract law. And if everyone is on is operating by the same set of standards in laws than you don't have to sit there and do all this crazy legal research, avail yourself to courts in in other different countries in waste all this time and energy because everyone's on the same playing field. And so. Theoretically, all your transactions can be done a lot more cheaply and efficiently will you shouldn't have a lot of a lot of headed. There's there's no debt is at all men is a look to still do in this space. It's still a very new space. I mean, I guess one of the big questions I wanna nominate from from your point of view at sides was what's your primary focus what what's your end goal. So we've all got businesses come on the show, we talked. We talk about what we took different professionals. I also want to add that I've had two of the lawyers vice of which will women Jacqueline Plunkett and clear Wytheville plaza. An awesome a three lawyers on the show, and they're all women so wonderful to say that the women are being represented very well in the legal spice in the blockchain community. So I just wanna make another that. But I mean, what's what's your visual? What is a win for you. When you have done X. What what is it that you need to shave to feel like if action made an impact in the spice? What is the end? Oh for you guys. At was I would say our mission is to fold one is to basically help this ecosystem this space really be able to achieve that transactional. Confidence and certainty that I was talking about earlier and to do that via finding new ways different ways to do dispute resolution very very efficiently. And then Secondly, basically, use blushing technology in the blockchain ecosystem to really shift the legal paradigm of how law is practiced today because I do not feel that law is acceptable to everyone that it helps small businesses, for example, right in so to the extent that we can simplify it in in make accessible to individuals and small businesses as opposed to just large corporations in wealthy. Individuals and make. You know, the space a more transparent fairer place to be then I think we will have achieved our mission will. I'm glad that you are sitting at on this quest, ladies and gentlemen. Amy one c of sidewise before you go. I would like you to let everybody know where they can find more information about sidewise about yourself and plug into some of the stuff that you'll doing at the moment for the spice. Absolutely. So our website is sage wise dot ISO. They can also follow our progress on our telegram page, and so they just have to look for sage wise. And lastly all a lot of our blog articles do get a posted on medium sewage just medium dot com for slash sage wise. Excellent will look on me. It's been an absolute pleasure. Having you on the show. It's it's another interesting Tyke into a very fast evolving spice, and definitely something that I mean the the trust. Issues that we have saying that you brought that up. I hadn't thought about it too much until the conversation with you. So I'm really glad that we've had this conversation different perspective from our point of view indefinitely from the listeners as well. So I wish you all the best going forward with this. Because you winning means that the space is winning. We're all aligned to succeed if sidewise succeeds as well. Thank you so much fear. Tom. I wish you all the best in the future. Guys. Get across the sidewise dot com. That is S J W. I S A dot com and have a look at the great works. I meet one is doing have a great dilated. Thank you once again AMI for being on the show. Thank you so much guys boffin. The trade Cup. Crypto podcast is hosted by Craig called traffic courses products and tools can be found at trader kkob dot com because experience met is.