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Blockchain/DLT in the Polish Capital Markets Strategy

In an earlier article I wrote about FinTech in the draft Polish Capital Markets Strategy (SRRK). There were lots of FinTech strands in the strategy, undoubtedly confronting one of the identified structural barriers to the growth of the capital markets in Poland, described as “outdated technologies or a lack of technologies in key segments of the market, including inadequate investment in FinTech solutions.”

The final version of the SRRK strategy, adopted by the Council of Ministers on 1 October 2019, continues to devote many remarks to FinTech. Use of competitive new technologies is included among the five fundamental principles to be followed in implementing the strategy. Considering that over the last few years there has hardly been any technology generating as much interest on the financial markets as DLT/blockchain, it was natural to include it in the strategy.

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Newtech.law is the media partner of the Global Legal Hackathon

Register now for the Global Legal Hackathon. The event aims to develop innovative technological and business solutions that help both lawyers and people seeking legal assistance.

The Polish edition will be held in Warsaw. It will run from Friday, February 22nd to Sunday, February 24th. In over 40 cities around the world, lawyers and IT specialists will meet to create a modern solution for the law industry. The winners of the Polish edition will receive cash prizes and a trip to the finals of the competition in New York.
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The tech revolution: A threat to the core values of civil society and the legal profession?

Over the past 20 years we have experienced technological developments dramatically changing our way of life. These developments, like all technological developments in general, help us perform various tasks more precisely, more efficiently, and faster. In general, they enable us to gain time.

However, when an invention solves one problem, it is quickly used for other purposes. It becomes applicable in completely different areas and leads to results not predicted and often not at all favoured by the inventor.

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Technology and its discontents

Any new technology that gains universal application changes the existing world. The reconfiguration occurs imperceptibly but thoroughly. But in this new reality, how should the rule of law, values essential to the civil society and human rights be protected?

A new economic reality functioning in cyberspace has arisen before our very eyes. Human activity, both positive and negative, is moving to the virtual arena that functions above and beyond state borders. Consequently we must develop the skill to adapt familiar legal institutions to this new reality.

The interdisciplinary New Technologies practice has functioned at our law firm for several years. The lawyers on the team share a passion for examining technical issues and their influence on the possibility of effectively protecting the rights of citizens and the civil society—and a belief that lawyers must raise their awareness of new technologies.

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