Viewpoints | From smart contracts to never-ending codes, how should Ethereum go towards compliance?

Osaka, Japan (OSAKA), Ethereum Foundation researcher Vlad Zamfir gave a clear warning at the previous Devcon5 conference: developers need to start thinking about Ethereum compliance issues, rather than hope that after Ethereum grows The government has to accept it (so-called "big but not down").

Behind him is Osaka Bay. He gave a speech in an open-air theater. The afterglow of the setting sun shines in the eyes of the audience, making this scene look like everyone is gathering together to listen to a Greek speaker who is discussing legal and political issues. But in fact, he is only trying to solve the problem of a complex encryption world, that is, as a blockchain platform that causes confusion, is the decentralized revolution of Ethereum's current leadership legal?

He said: "From smart contracts to never-ending code, Ethereum is a compliant technical project. It may be controversial, but this basic fact is rarely discussed by the industry and the industry."

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To illustrate his position, he briefly summarized the historical background of the above remarks. “Ethereum was born in an anti-cultural movement, a cyberpunk movement,” Zamfir said. "Ethereum is farther away than BTC. This shows that the main purpose of our work is not just for money, our vision is far more than this."

The meaning of smart contracts

He pointed out a feature of the Ethereum blockchain: the concept of smart contracts. When the contract conditions are met, the flow of funds can be automatically achieved through the code. So far, we believe this is legally binding. "From a fundamental point of view, a smart contract is a legal form that can only be understood by insiders. We can understand it as an alternative legal contract."

He said that in response to this problem, we have now embarked on the right track, depending on whether the government approves it or not. He asked the audience under the audience: "What conflicts does our anti-legal revolution have with the existing legal order?"

In this context, Zamfir said, some companies choose to operate within a fully compliant framework, while others are constantly trying to break through the boundaries. Others choose to leave and go to other countries to find their own "promised land." However, as an option, for those anonymous people hidden behind the mask, people can't stop them from acting.

All of the above will affect the development of the blockchain industry. He added: "A developer who is not responsible for the content he publishes on the chain and a cautious developer coexist in the world, but their performance may be completely different."

He claims that, so far, the general consensus is that blockchain is usually a form of "private law." Such a contract based on technical requirements between two people is considered a private contract between different entities, which is unique and important. There are many opinions about password punk, but this path often carries risks. If the blockchain creators continue to act and disregard the law and the government, they will cause more controversy.

He said: "The current development path of Ethereum is unsustainable. There is such a cognitive misunderstanding that we do not need to change anything before the blockchain technology is adopted on a large scale and the success of the global revolution is achieved." He added: "Unless an accident occurs, this will not happen. Some things must be abandoned. Whether we are included in the existing pattern, controlled or completely eliminated."

Empire counterattack

Finally, Zamfir mentioned three ways in which the government can adopt blockchain technology. First, they can use blockchain technology and modify it until it meets the law; second, they can ban it and force it to go underground; third, they can build their own electronic legal system, Competing with the blockchain system (similar to policymakers like ECB executives have made similar remarks: large-scale implementation of the central bank's digital currency can stifle the "parallel currency" of BTC and other living spaces). For example, they can create a centralized system that runs an electronic contract so that payments happen automatically. It can be faster and cheaper. While it may not attract decentralized advocates, it may be a more attractive option for businesses.

Original title: "Researcher Vlad Zamfir: The Emerging Crisis's Compliance Crisis Is Inevitable"

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Xuxin Fan Translation

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