Tech Supreme Court - Crypto Edition!
Law and Innovation
On May 25th, 2023, the first edition of the Tech Supreme Court gathered more than 200 entrepreneurs and decision-makers from the realms of economics, law, technology, and finance. During this fictional pop-up court at Hémicycle ECCL in Luxembourg, top experts and enthusiasts from the Luxembourgish ecosystem examined the legal, social, and economic impacts of cryptocurrencies.
Have cryptocurrencies been found guilty or not?
The staging of a court with real experts in order to debate on the legal, social, and economic impacts of cryptocurrencies. It is at the pace of a trial that different subjects have been covered.
* Financial inclusion, with witnesses Romain Swertvaeger (EY), and Darina Mohamad (Elvinger Hoss Prussen)
* Speed and low transaction costs, with Louis Chevalier (Tezos), and (Owen Simonin), also known as Hasheur (Meria)
* Data privacy protection, with Laurent Kratz (NEOFACTO), and the surprise witness… Grégory Guilmin, stock market trainer !
The central message that emerged from these discussions was the crucial importance of education in the field of cryptocurrencies. Indeed, words are important, but actions are even more so. Awareness and education are essential tools to enable a broader and more responsible adoption of cryptocurrencies, helping to avoid fraud and promoting a better understanding of the challenges and opportunities offered by this innovative technology.
After the presentation of evidence and witness testimonies, both sides, led by General Prosecutor Thierry Labro and attorney Emilie Allaert, had the opportunity to make their closing statements. They summarized their respective cases and sought to persuade the jury.
The jury retired to exchange and discuss deliberations on the case. At the end of their deliberations, the six jurors returned to the courtroom and pronounced their respective verdicts one by one. Finally, the judge delivered the formal judgment, concluding the proceedings. The verdict of the trial is as follows: cryptos were found guilty of financial inclusion and not guilty of transaction speed and low costs. The defendant was found guilty of data privacy protection and not guilty of decentralization. Finally, the defendant was acquitted of charges related to technological innovation thanks to his data creation capabilities, and found guilty of environmental impact.
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