Blockchain
Groundbreaking rules published to enable rapid resolution of blockchain and crypto legal disputes, as worldwide smart contract market expected to reach $345.4 million by 2026[1]
The UK Jurisdiction Taskforce of LawtechUK, chaired by Sir Geoffrey Vos, Master of the Rolls, has today published its Digital Dispute Resolution Rules designed to enable faster and more cost effective resolutions to legal disputes relating to novel digital technology such as crypto assets, smart contracts, and blockchain applications, and foster confidence amongst businesses in the adoption of these technologies.
The use of these technologies in business has rapidly gained in popularity in recent years. JP Morgan, for example, is just one of many large-scale corporations already regularly taking advantage of the use of smart contracts (self-executing contracts run on blockchain technologies that automatically process transactions without the need for a third-party). The business benefits of smart contracts are wide-ranging, including enhanced security, improved efficiencies, and cost reduction in the implementation (and automating performance of) contracts between parties.
However, until now, there has been little consistency in how legal disputes relating to these types of technologies should be resolved, leading to lengthier and more costly processes.
Drafted in extensive public and private consultation with lawyers, technical experts and financial services and commercial parties, the Digital Dispute Resolution Rules published today are designed to facilitate the rapid and cost effective resolution of disputes arising in the context of these technologies, and to foster industry confidence in their use.
One important feature of the Rules is that they allow parties to resolve their disputes by an arbitrator, rather than by a judge in court (which can be a more time-consuming and costly process). They have also been drafted to provide maximum flexibility to adapt to as yet undeveloped technologies, and to reach a resolution to disputes quickly and efficiently by arbitrators with appropriate technical expertise and enabling on-chain implementation of decisions.
The UK has been at the global forefront of developing the legal infrastructure to support the deployment of these nascent and evolving technologies. In November 2019 the UKJT published its well-received legal statement on the status of cryptoassets and smart contracts under English and Welsh law. The legal statement was a significant step by the UK towards legal certainty for blockchain technology and crypto assets. Furthermore, English law provides an established and familiar framework by reference to which rights in respect of digital technologies can be effectively established and enforced, and has an impressive track record of dealing with and adapting to technological developments.
Master of the Rolls, Sir Geoffrey Vos, chair of the UK Jurisdiction Taskforce and LawtechUK Panel member, commented: “I am delighted to welcome the publication by the UK Jurisdiction Taskforce of the ground-breaking Digital Dispute Resolution Rules. International business is rapidly adopting the use of digital documentation and on-chain smart contracts. The Rules aim to provide a process for speedy and cost-effective resolution of disputes originating digitally. They will hopefully give global businesses greater confidence to adopt and utilise new digital technologies.”
Jenifer Swallow LawtechUK Director at Tech Nation, comments: “Analogue ways of doing business will be widely restructured and digitised in the coming years, increasing efficiency and transparency. The smart contracts market alone is set to reach $345.4 million by 2026. Methods of dispute resolution must keep pace. The Digital Dispute Resolution Rules are a step change in that evolution and in enabling wider confidence and adoption of these technologies – underpinning those readily-available today and capable of adapting to those yet to be developed. This is an exciting next step in the UK’s leadership at the forefront of business, law and technology, and also demonstrates how simple legal processes can be.”
The UKJT will keep a close watch on how the Digital Dispute Resolution Rules are used, and will aim to consider whether further development or revision would be valuable within the coming year, based on user feedback.
The Digital Dispute Resolution Rules
The Rules are available for download here.
UK Jurisdiction Taskforce and LawtechUK
LawtechUK, a government-backed initiative within Tech Nation, is established to support the transformation of the UK legal sector through technology, for the benefit of society and the economy. Established in 2018 by the Secretary of State for Justice, the LawtechUK Panel, then the Lawtech Delivery Panel, are a group of leaders and experts from the public and private sectors working to achieve that objective and acting as the advisory board to LawtechUK.
The UKJT was established by the Panel as a taskforce to demonstrate that English law and the jurisdiction of England and Wales together provide a state-of-the art foundation for the development of distributed ledger technology, smart contracts and associated technologies.
The members of the UK Jurisdiction Taskforce (UKJT) are:
Sir Geoffrey Vos, Master of the Rolls and Chair of the UKJT
Lawrence Akka QC, Twenty Essex
Sir Nicholas Green, Chair of the Law Commission of England and Wales, as an observer
Richard Hay, Linklaters LLP
Peter Hunn, Accord Project
Mary Kyle, City of London Corporation
Matthew Smith, Financial Conduct Authority
Sir Antony Zacaroli, Justice of the High Court
The drafting team:
David Quest QC, 3 Verulam Buildings
Lawrence Akka QC, Twenty Essex
Anne Rose, Mishcon de Reya
Dorothy Livingston, Herbert Smith Freehills
Rory Conway, Linklaters
David McIlWaine, Pinsent Masons
Blockchain
Blocks & Headlines: Today in Blockchain (Ethereum, Quantum Emotions, Pepeto, Zeus Investments, AgileGTM)
Ethereum’s Challenges Highlight the Importance of Blockchain Integrity
Ethereum, once hailed as the undisputed king of smart contract platforms, is facing mounting criticism over scalability issues and increasing centralization concerns. Critics argue that Ethereum’s looming challenges serve as a cautionary tale about the importance of maintaining blockchain integrity in the pursuit of innovation.
The network’s shift to proof-of-stake has introduced debates about validator centralization and network control. As transaction fees remain high and competition from newer blockchains intensifies, Ethereum’s journey underscores the delicate balance between growth and decentralization in the blockchain ecosystem.
Source: Bitcoin Magazine
Quantum Emotions Introduces Revolutionary Quantum Wallet
Quantum Emotions, a pioneering quantum technology firm, has unveiled its groundbreaking quantum wallet designed to provide unprecedented security for blockchain users. Leveraging quantum random number generators, the wallet ensures ultra-secure private key management and protection against emerging quantum threats.
As the blockchain industry prepares for a quantum computing era, innovations like this wallet highlight the need to future-proof digital assets. Quantum Emotions’ solution is a step forward in safeguarding the integrity of blockchain transactions in an increasingly complex technological landscape.
Source: Finance Yahoo
Pepeto Simplifies Cross-Chain Trading for Blockchain Users
Pepeto, a trailblazer in the blockchain space, is revolutionizing cross-chain trading with its user-friendly platform. By simplifying blockchain transfers across different networks, Pepeto addresses a significant pain point for users navigating the complexities of decentralized finance (DeFi).
The platform’s intuitive interface and efficient protocols enable seamless asset transfers while reducing transaction costs and processing times. As interoperability becomes a crucial factor in the blockchain sector, Pepeto’s innovation is set to reshape how users interact with decentralized ecosystems.
Source: Bitcoinist
Zeus Investments Launches Blockchain Research Division
Zeus Investments has announced the launch of its dedicated blockchain research division, aimed at driving innovation and identifying strategic opportunities in the blockchain sector. The division will focus on exploring emerging technologies, evaluating market trends, and fostering partnerships with industry leaders.
By committing resources to blockchain research, Zeus Investments signals its belief in the transformative potential of decentralized technologies. This initiative underscores the growing interest among traditional financial institutions in harnessing blockchain’s disruptive capabilities.
Source: Finance Yahoo
AgileGTM Blockchain Fund Secures $2M in First Close of $10M VC Fund
AgileGTM has achieved a significant milestone by securing $2 million in the first close of its $10 million pan-European blockchain venture capital fund. The fund aims to support early-stage blockchain startups across Europe, focusing on innovative solutions in areas such as DeFi, NFTs, and enterprise applications.
This development highlights the increasing appetite for blockchain investment and the role of venture capital in accelerating the growth of the industry. AgileGTM’s initiative reflects the potential for blockchain to drive economic transformation and innovation across diverse sectors.
Source: Tech.eu
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xPortal, the AI-powered DeFi super-app, has acquired Alphalink, a Berlin-based Web3 startup recognized for delivering delightfully simple crypto experiences through its mobile app. The acquisition marks a major milestone in xPortal’s goal to simplify crypto and financial investing.
With over 2.5 million users and a 4.8-star rating from 70K+ app store reviews, xPortal combines crypto, real-world functionality, and AI into a single, user-friendly mobile app.
xPortal launched in 2023 as the wallet for the MultiversX blockchain (prev. Elrond) and quickly expanded into multi-chain territory, integrating Bitcoin, Ethereum, Solana, Polygon and more.
As part of its growth strategy, xPortal is raising capital in an anticipated oversubscribed round while making a full-scale push into AI, expanding into the U.S. and launching a native token to its ecosystem
Active xPortal users will also benefit from lucrative opportunities that will further fuel the ecosystem.
Empowered Leadership
Through the acquisition, xPortal brings seasoned FinTech and crypto innovators Marko Bradic as Co-founder and Chief Product Officer (CPO) and Mohit Tilwani as Co-founder and Chief Technology Officer (CTO) to complement the dream team together with Sergiu Biris, Co-founder and CEO of xPortal.
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Marko Bradic (ex-CEO of Alphalink) previously scaled Trade Republic – the $5B European Robinhood backed by Sequoia – to 4 million users, €180 million in annual revenue, and €35 billion in AUM.
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Mohit Tilwani (ex CTO of Alphalink) brings over a decade of engineering experience to xPortal. Served as the first engineering lead at Trade Republic, he scaled systems to support 8 million customers.
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Sergiu Biris (CEO of xPortal) is a serial entrepreneur with over 20 years of experience. He was the co-founder of LiveRail, a video advertising platform acquired by Facebook (now Meta) in 2014 for $500 million.
“Marko and Mohit’s experience in building and scaling world-class fintech products aligns perfectly with xPortal’s mission to make crypto easy to use and accessible to everyone. Their expertise strengthens our vision of blending crypto and AI with real-world utility. I’m extremely excited about what we’re going to be building together in the years to come.” – Sergiu Biris, Co-founder and CEO of xPortal
Beniamin Mincu, Co-founder and CEO of MultiversX added: “Through the acquisition of Alphalink xPortal is taking a bold step towards the future. One where crypto is merging with AI to deliver the best experiences to everyday users. xPortal started as a core part of MultiversX and, driven by this team of world class founders, is now becoming independent, creating its own story. I believe xPortal is poised to drive global crypto adoption, bringing unparalleled value to its users and the broader Web3 space.”
DeFi to DeFAI: What if your money had Brains?
Leading the paradigm shift from DeFi to DeFAI, xPortal is transforming how users interact with money. Making crypto easy and accessible for everyone, xPortal is building a vertically integrated network of specialized DeFAI agents that work autonomously, simplifying complex user tasks and removing onboarding and engagement friction through seamless chain management.
With features like effortless on-off ramps, cross-chain trading, staking, Web3 dApp integration, and Mastercards for everyday payments, the super-app bridges the gap between crypto and real-world utility.
The post xPortal Acquires Alphalink to Drive Innovation at the Intersection of AI and Crypto appeared first on News, Events, Advertising Options.
Blockchain
Humanity Protocol and Open Campus Partner to Integrate Achievements and Interoperable Credentials for Decentralized Education
Humanity Protocol, the leader in on-chain Proof of Humanity (PoH) and decentralized identity, is thrilled to announce its strategic partnership with Open Campus (EDU), the Web3 education protocol.
This collaboration will redefine digital identity and credentialing for learners, educators, and developers, enabling interoperable, privacy-preserving credentials that can be seamlessly used across decentralized ecosystems.
Humanity Protocol’s Self-Sovereign Identity (SSI) framework and Proof of Humanity (PoH) technology ensure Sybil-resistant, verified human authentication for Web3 applications. Open Campus complements this by empowering users with tools to issue, manage, and utilize education-related credentials through its Open Campus ID and Achievements System.
Together, the two projects aim to unlock a future where identity and educational credentials are secure, interoperable, and privacy-focused.
At the core of this partnership is the integration of Open Campus Achievements and Open Campus ID with Humanity Protocol’s decentralized identity graph. This integration ensures that credentials issued on Open Campus are validated and interoperable, allowing users to showcase their verified educational accomplishments across Web3 platforms.
Key features of the collaboration include:
- Achievement Verification: Open Campus will focus on issuing education-related credentials, such as course completions, certifications, and learning milestones. These Achievements will be authenticated using Humanity Protocol’s verifiable credential (VC) framework, enabling secure and portable credentialing.
- Interoperable Identity: Open Campus ID will integrate with Humanity Protocol’s Proof of Humanity, providing users with privacy-preserving, Sybil-resistant identities. These identities will enable users to leverage their credentials in governance, professional, and educational applications.
The partnership between Humanity Protocol and Open Campus introduces new use cases that benefit learners, educators, and developers. Users can create portable, privacy-preserving portfolios combining Proof of Humanity and verified Open Campus Achievements. These portfolios can be used in professional and academic settings to showcase skills and accomplishments securely.
Learners and educators can leverage their interoperable identities to participate in governance activities on both Humanity Protocol and Open Campus platforms. By tying voting to verified individuals, governance becomes more transparent and fair. dApp developers can build applications that integrate Humanity Protocol’s identity verification with Open Campus’s credentialing, enabling innovations in decentralized education, recruitment, and professional networking.
In addition to technical integration, Humanity Protocol will actively support Open Campus in its ongoing conversations with educational institutions. By providing expertise in decentralized identity and credentialing, Humanity Protocol will help Open Campus establish trust and drive adoption of its Achievements and Open Campus ID among schools, universities, and certification bodies.
This collaboration strengthens the bridge between traditional education systems and the decentralized future. Humanity Protocol’s zkProofers will ensure that all verifications remain privacy-focused. Users will be able to prove their identities and credentials without exposing sensitive personal data, enabling secure and trustworthy interactions in education, governance, and professional contexts. By integrating these privacy-preserving solutions, the partnership ensures that credentials remain both secure and portable across ecosystems.
Terence Kwok, Founder and CEO of Humanity Protocol says: “Our partnership with Open Campus marks a significant milestone in integrating decentralized identity with education. By combining Proof of Humanity with Open Campus Achievements and Open Campus ID, we empower learners and educators to take control of their credentials in a way that is secure, interoperable, and privacy-focused. Humanity Protocol is also proud to support Open Campus in its ongoing conversations with educational institutions, helping to bridge Web3 innovation with traditional education systems.”
Jonah Lau, Head of Open Campus (EDU) and Portfolio Management, Animoca Brand says: “Collaborating with Humanity Protocol enhances the usability and security of Open Campus Achievements and IDs. By integrating with Proof of Humanity, we’re ensuring that learners and educators can seamlessly use their credentials across Web3, paving the way for a more interconnected and equitable decentralized education ecosystem. This partnership positions Open Campus as a leader in Web3 education innovation.”
The post Humanity Protocol and Open Campus Partner to Integrate Achievements and Interoperable Credentials for Decentralized Education appeared first on News, Events, Advertising Options.
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