“One of the most senior judge in Britain has stated smart contracts are coming and the English legal system has to lay the foundations for smart contracts to flourish.
“We should be looking to identify and, if necessary, remove any fundamental legal impediment to the use of smart contracts.
We should try to avoid the creation of a new legal and regulatory regime that will discourage the use of new technologies rather than provide the foundation for them to flourish.”
This view is highly interesting to Pacio. Blockchain technology already has troubles with millions of transactions. There is no way that any of the current big blockchain contenders can handle this amount of load. If blockchain is supposed to handle that, the architecture of blockchain must change.