Lawyers specialists in Blockchain
This new technology has a potential that has captured the attention of both companies and organizations as well as individuals, and this is due to the benefits it provides, such as: transparency, security, the absence of intermediaries, or the possibility of carrying out a new type of transaction through Smart Contracts.
For this reason, Navas & Cusí has a team of Blockchain experts to offer advice tailored to each specific case. Among the services offered:
- Smart Contracts.
- NFT (Non-Fungible Token).
Smart Contracts and Cryptocurrencies
Smart contracts are agreements between parties whose content is represented in “scripts” (computer codes) and whose support and registration is through Blockchain technology. Unlike a traditional contract, Smart Contracts are executed automatically, without human intervention, when a pre-programmed condition is met.
This type of contract offers multiple benefits, such as: transparency, because all those involved have access to consult the information; security, because no one can modify the information; autonomy, due to the absence of intermediaries; cost reduction, with the elimination of bureaucratic procedures; and speed, due to the way in which they are self-executed.
They also have a wide variety of applications such as: the possibility of carrying out monetary transactions, food traceability processes, the creation of tokenized assets, cryptographic wallets, mobile applications or decentralized exchanges, the registration of patents or the sale of products, among others.
Due to the great novelty of this type of contract, it does not yet have a regulation that specifically regulates them, however, in Spain they do have an indirect regulation that will allow them to be valid as long as they are complied with.
At Navas & Cusí we offer advice and support throughout the process of creating smart contracts, by applying the laws in force and by drafting clauses that guarantee legal certainty.
NFT (Non-Fungible Token)
Non-fungible tokens or NFT (Non-fungible tokens) are a special type of cryptographic token, which allows us to represent unique and unrepeatable objects, tangible or intangible within the Blockchain chain, such as: digital brands, photographs, paintings, tweets…etc.
This type of token offers artists and creators a new way of protecting and globally marketing their works. Through its support in Blockchain technology, it is possible to guarantee the registration, authenticity, and monetization of creations in the global technological environment in which we are immersed.
At Navas & Cusi, we offer advice on protecting artistic creations through NFTs, in order to guarantee their authenticity, as well as the rights acquired in both primary and secondary sales.