Cristina Carrascosa is the only Spanish woman chosen to be part of the Observatory and Blockchain forum of the European Union. As a lawyer, her mission in this working group is to study and define a regular framework for this technology, something more than necessary, as she affirms in this interview.
However, Carrascosa does much more than that. In addition to her work as a teacher, she also advises companies to comply with legal issues in the development of decentralized projects.
If you were looking for the voice of an expert in blockchain, Carrascosa tweets every day about everything that concerns the blockchain. We have had the opportunity to give you this brief interview.
Open Data Security: When you discovered Blockchain, you moved to Madrid to work closer to the people dedicated to this incipient technology. What did you see then that fascinated you so much to make this change?
Cristina Carrascosa: A new way of operating. I saw in the Smart Contracts a confluence between the computer code and the legal transactions that I was interested in discovering. At that time, there weren’t ICOs and there was not so much cryptoactive, but to me it was relevant to see how Ethereum works.
ODS: In an interview you stated that “the token represents the democratization of the financial market”, is it important for everyone to know what blockchain is and how it can improve their lives?
Carrascosa: No, I do not think so. Like everything, we must relativize. Blockchain won’t bring peace to the world, it isn’t the solution to everything, and of course, I don’t think that everyone will use it. I simply believe that it is the access to a new financial market, extremely volatile, only suitable for those who really know where they are going to put their money.
ODS: What would you say to those who listen or read about Blockchain (especially in media) and relate it only to one more form of speculation?
Carrascosa: I would not tell them anything. Speculation is one more use of this technology that has always existed. It is evident that Blockchain is more than speculation, but speculation is not bad (in global terms). Blockchain for me has two clear slopes, the speculative and the business-technological. And people don’t necessarily have to position themselves in both, I don’t do it. There will be those who are interested in building projects without ICOs, and those who are interested in the speculative part. It has always been like this.
ODS: You often say that a regulation is needed. Due to the decentralized nature of blockchain and the fact that borders are diluted when we talk about the Internet and protocols, should a regulation be established under a common framework like the GDPR?
Carrascosa: Yes, because one of the effects of blockchain technology is that it provokes competition between governments. Let me explain this: you just have to see the ICO market. There are countries that have moved forward with their regulatory frameworks, allowing and favoring the launch of ICOs and attracting projects from other countries, which don’t have clear regulations or which are less beneficial for them. This competition creates inequality, an inequality that if it wants to be alleviated, can only be from a common framework.
ODS: Predict a future for blockchain 10 years from now, will it change our lives like the Internet did?
Carrascosa: What a difficult question! For me, as a lawyer, I don’t think that it will change things in our profession. But I do believe that it will revolutionize some (some, not all) sectors. Currently, we go through a moment of “blockchain for everything” that will relax, and we will begin to see clear uses that add value. Right now that is very complicated.