The people of Great Britain have voted for leaving the European Union, yesterday, on Thursday. This means an unprecedented bureaucratic burden. All EU trade agreements are invalid. All agreements between Great Britain and the EU have to be renegotiated, with every single member state. Assuming 10.000 of treaties per member state, it means 270.000 new treaties. In addition countless treaties in the free economy have to be adjusted.
What does the Brexit has to do witch Blockchains? Due to this historic moment, a unique opportunity to a massive digitalization is given.
A Blockchain-Application can comprise so called “smart contracts”. These are electronic contracts, which simplify the settling of them and even make them ensure legal certainty.