Interview done by VAIOT:

Perfecting DeLaw for Secure Legal Support

Lawyer, Silvia Calls CEO of Abogados Fintech, showed us how everything will change for law professionals with DeLaw and AI.

Key Takeaways

  • Decentralized Law (DeLaw) is gaining traction as blockchain technology becomes more regulated and integrated into legal and business operations, with the global blockchain market expected to grow at a CAGR of 85.9% from 2022 to 2030.
  • Legal experts like Silvia Calls and Piotr Cedro see DeLaw as a solution to inefficiencies in traditional legal systems, particularly for international business disputes, offering faster resolution times and cost-effectiveness.
  • The European Union’s Markets in Crypto-Assets (MiCA) regulation and other regulatory frameworks are evolving to support the integration of blockchain technology in legal and financial sectors.
  • The future of law is moving towards a more globalized, efficient, and technologically integrated approach, with DeLaw complementing rather than replacing traditional legal systems.

Legal Technology: From Skepticism to Regulated Innovation

The world of web3 and blockchain-based projects has long been met with a mixture of fascination and distrust. For many, the decentralized nature of these technologies conjures images of a digital Wild West, rife with potential pitfalls and lacking proper oversight.

This skepticism has been a significant barrier to widespread adoption, particularly in industries as traditional and regulation-heavy as law. However, Silvia Calls, CEO of Abogados Fintech and a seasoned lawyer with 15 years of experience in the field offers a different perspective. She argues that as decentralized technology becomes increasingly regulated, its utility and relevance are growing, particularly in finance and business operations.

“The market value regulation in Spain, which is also a European regulation, has already acknowledged DLT (Distributed ledger technologies) type of operations,” Silvia Calls explains.

“If you do settlements on accountability through DLT, this can be acknowledged as a normal settlement. This is a big step.”

Silvia Calls: LinkedIn

Indeed, the numbers support Call’s’ optimism. According to a report by Grand View Research, the global blockchain technology market size was valued at USD 5.92 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 85.9% from 2022 to 2030. This growth is largely attributed to increasing venture capital funding and investments in blockchain technology (Grand View Research, 2021).

Blockchain technology market size and growth. (Grand View Research, 2021).

The regulatory landscape is evolving to keep pace. The European Union’s Markets in Crypto-Assets (MiCA) regulation, set to come into full effect by 2024, aims to provide a comprehensive framework for crypto assets. As Silvia Calls notes,

“Regulators are already providing the forms for companies to get the license to act as crypto asset managers. They can trade and issue these types of crypto assets.”

This regulatory progress is opening doors for innovative applications of blockchain technology. Silvia Calls highlight one particularly intriguing development that can potentially impact businesses:

“You can establish in the bylaws that the company would be tokenized. You’ve got some type of shares, and those shares can be tokenized, which is a big step.”

These advancements in regulation and application are paving the way for what Lawyers and VAIOT understand as “Decentralized Law” — a new paradigm where blockchain technology and smart contracts play a central role in business operations and finance.”