YouSaid · the spoken record

Tonya Evans

lines on the record: 74
first: 2022-02-22
most recent: 2022-02-22
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“The process intentionally or unintentionally. And so it's going to have to comport with the laws, and as it continues to develop and comes at tension with existing laws, the question is, do we tweak and amend? Is there some hybrid? Do we do a complete sui generis law and something completely new? And I think that we are at a time in technology where we are going to need some new laws for a new day because the future is now.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“The way that I approach this question is that the technology was not developed in a vacuum. It is developed in a construct that we all buy into of these laws. Not everybody buys into it, and some people are completely off the grid and awesomely off the grid. But the moment that you need police or fire or you stop at a stop sign, you are complying with laws. Regulation is all around us in so many different ways, both at the state, local, and then, of course, at the federal level. And so the fact that technology doesn't exist in a vacuum means it has to comport with the laws that we've all agreed to abide by. And if we don't want to do that, then you change the laws. But when you have more than one or two or three people in a society, this is the way that we all interact and coexist relatively peacefully without killing each other in the process or harming each other.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“And it's not a matter of if but when because we are not all altruistic out here protecting each other and making sure everything goes well. The law and the framework of law is for when things go badly and when they do, lawyers, you have a ton of lawyer jokes. They're all funny until they're not. They're funny until you need one. And so what are the protections and frameworks that don't hyper or over-regulate the space, but provide the protections for consumers and investors in a meaningful way that allows the innovation to continue while it doesn't harm people in the process, which was my earlier point.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“This is the existential crisis that they may find themselves in where it's kind of down with the man and down with intermediaries. An intermediary? And are there intermediaries in a system or do we reimagine the role of intermediaries so they're not just rent seeking and exacting a premium, but adding value? And to the extent that you need an intermediary to do certain things to navigate when things go badly, because I think the space is great when things go well. No reason to talk to me when things go well When things go bad”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“I'm a regular person. I see that Jonah and his friends want to buy the Constitution. I think that's great. I'm going to throw some money at this. And like, now I got to go to Prof Tanyaevans.com and download a paper about my international treaty framework that might cause liability. Like, that does not seem like anyone's going to actually do that. It seems very complicated. It seems like a way new kind of risk for something that seems to normal people like crowdfunding. How does that get reconciled?”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“So, there are a lot of international treaties and conventions to codify how someone who has identified in one country, as long as you have countries that are signatories to this, that's also problematic if you have something that a country that is not signed up to be a part of a particular treaty or convention, but most of the ones that we would think about are already participating meaningfully and have existing structures for how those cross-border disputes would be settled. And so I can't think of the precise trees and conventions off the top right now, but if you have show notes or something like that, or I can tweet it out, that's one thing that I can do as well. But I also have that up on my website at profaniaeevans.com. So a copy of that particular paper. And that starts to unpack.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“So I wrote a short piece on this, and we had to cross this bridge, no pun intended in a Web2 world as well, where there are all of these cross-border agreements and you had to deal with the enforceability of cross-border agreements. And the short answer is there is an existing structure that supports cross-border contracts, how you overlay that onto this technology is not at all clear, but there is at least a framework. We're not starting from scratch with cross-border agreements because we're kind of already there, this technology just takes it to the next level.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“Also, worry about the jurisdiction as well. So those are the things that concern me more than the existence of a breach of contract. It's like, okay, we have a breach. Now what the hell do we do about it? And I'm more concerned about that jurisdictional issues and enforcement issues than the existence of an enforceable contract, an enforceable agreement, which is contract.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“Minute, where did it go wrong? I'm more concerned about the enforcement of it than the existence of an agreement that might be enforceable as a matter of law.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“Not me, but I'm a rule follower. I'm the wrong person to talk about this with. You need a rule breaker. Because again, you know, this gets to the point there would be something illegal about taking people's money and not doing what you had an agreement to do. And you know it doesn't have to be written on paper or people still using paper. I don't know, but sufficiently permanent using language from the Copyright Act inappropriately in order to say people's understanding of the agreement gets really fuzzy when you're using oral agreements or you come to a common understanding and it's not recorded, but so much is actually recorded when you look at the organizational tools that DAOs tend to use. They're going to use Discord or something else in a way that kind of sets in stone at least the communications around what the agreement is. So be inaccurate to say that there's no body that, you know, a court, if they came in and try and just unpack everything to say what was the common agreement.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“Sure, we have to identify the harms, but just right now, right? If I form a DAO and I say, we're going to buy a car, I'm not in Wyoming. And then, all right, we've raised the money to buy the car. The Dow can't buy the car. The Dow doesn't exist, right? It has no legal status as a thing that can do things. So then I have to buy the car. And everyone in the Dow has to trust me. And then if they vote that I should sell the car or drive the car off the cliff. There's no legal mechanism to actually make me do that thing outside of regular old contract law.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“And whatever the potential harms are that we would see with any governing structure that involves more than one person, you're going to have to have some protections for them and for others who interact and do business with them. But that doesn't mean that the technology is flawed, but you want to just regulate or legislate around the potential harms to investors, to consumers, rather than to the technology itself.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“That is by default not what would happen, and we'll start to see that play itself out. And your mention of the Constitution Dallas, interesting because once they weren't successful in the purchase, then it became the drudgery of how do we get folks their value back? What do we do next? But it happened really fast, like in a week's time. Think of how long most corporate entities have to get up and running and you have all of these agreements, et cetera. So it's, again, it's the move fast break things mentality of entrepreneurial endeavors. I like the way that Wyoming is least giving a framework that makes sense. And oftentimes we see things percolate at the state level in less than until there's a tipping point that would require a federal response. But you have to have some type of treasury that might be dedicated to something in case something goes wrong, some way to protect against the harms. I don't want regulation of the technology. Protect against the harms.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“Well, I love the way that Wyoming has approached this. I mean, they have over 20 laws on the books in some form or fashion regulating or providing regulatory clarity to folks who want to do business. When folks come together for the purposes of the DAO, they always want the upside. Wasn't want the upside. They don't want any of the downside. And I guess they would think that the original organizer of the DAO, whether they actually know his or her or their names or not, is going to take the heat if something goes badly.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“I think amazing they passed a law saying DAOs registered in Wyoming can be LLCs, but DAOs recognized in any other state are not allowed to do business in Wyoming. Which is amazing. That seems very problematic for anybody who wants to do business in Wyoming. What is the right framework for DAOs? Because I don't think general partnership, which for listeners who aren't familiar, that means everybody. I don't think that's what people think they're buying into. But that's the default, at least as I understand it, in most states is what we don't know what you are, the default is general partnership What is the right framework and how do we get across it?”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“Right, so we have to fundamentally protect users while also maintaining the balance of this limited times protection. I also think that copyright persists too long because the duration of copyright is life of the author plus 70 years after the author's death. That is a long time for limited times, which is mentioned in Article 1, Section A, Clause 8 of the Constitution. I don't know how you get that genie back into the box, but I think it persists way too long, particularly given the state of the art and how quickly technology moves.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“Not even have contemplated what we are doing at this level in the creation and the dissemination and the adaptation of literary and creative works and the way that we can do it quickly and easily. It's interesting there are other countries that have done more to protect user rights. Canada is a great example of actually codifying protections for users under certain circumstances. There may be a way to set up the regime. We think of like the music industry and the compulsory licenses or some caps below which you don't even have to pay anything. Just making it easier and safer because most people actually want to do the right thing given the right information but not under a 1976 law that's been tweaked a couple of times when Mickey Mouse got upset.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“So There's so much gosh that we should have started this question about 30 minutes ago. Of all, it had to your point earlier, it has to be relevant to the state of the art and the norms of our exchange of information and now exchange of value. The Copyright Act under which we are operating today”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“That is the most IP lawyer answer. I wanted to prevent any infringing use. I purchased everything affirmatively. Last question here, and then I do want to make sure we talk about DAS. Let's say you were just in charge of American legal system. I think you'd be a great steward of it. What changes would you make to copyright law right now to account for what we're seeing?”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“But I do own ENS, my ENS domain, because even if I don't use it, I want to make sure nobody else uses it. So I had to buy up everything that remotely resembled Tanya Evans. I just like my domain names. I scooped them all up as many as I could think of. Tanya Evans, Tanya M. Evans, IProf Evans to scoop them all up.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“All right, very good, very good. Right. Be problematic to actually reach them right now unless you have direct access to jail.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“I try not to because I like my ears. I don't want anything to do with that. I don't want the internet to police to know that I was listening.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“or illegal, what do you do about that? But the record of the occurrence of a thing is different than the thing itself. So I don't know if the record of it is as problematic. And in fact, thinking about illegal activity, blockchain's public-facing blockchains are terrible places to record.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“So, with the blockchain, we're talking the timestamped records of transactions and balances. There are times where in the memo line you'll see a reference to some other file. Separate and apart from the record of what happened at any given time. In some instances, it won't be as controversial or problematic as we make it out to be in contrast to this decentralized file storage issue, which really takes us back to BitT Know same type of thing that some aspect of it is going to persist over time But to your point of what if we have an inaccurate record of something that happens, the accuracy is that this was recorded on a particular date and time. But what if it was connected to something that is inaccurate? And how do you deal with that?”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“This is to me one of the most complicated things, and I'm glad you brought it up. In almost every other non blockchain case. You engage the power of the state in your controversy, the state can take something away. You made an illegal copy of my photo and you've got it hung up on your wall and I sue you. I can take it away. It's out of the system and I can destroy it or whatever. If you do a bunch of money laundering and you got a bunch of money you shouldn't have, the state can go to your bank or whatever and take your money out of the system. You have a controversy in the blockchain. No one can delete anything from the blockchain as far as I'm aware. That feels like it changes the nature of our relationship to not just stuff, but like to society. Seen either legal or philosophical reckoning with that?”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“That's where secondary liability came from. That's the push from a legislative point of view to at least give them some opportunity to avoid secondary liability if they do certain things. And these minting platforms are no different than that. Now, to your question is what in addition to the standard DMCA notice and takedown is going to be appropriate. And there is one significant difference. For the minting platforms that are storing the files on the interplanetary file system IPFS that means that that file will persist. And it's one thing to kind of take it down on the public facing portion, but as long as it exists on IPFS, is it really taken down? I actually don't have an answer to that today, but that is a problem that did not exist where you have centralized file storage where it's easy to not only take it down from public view, but also the double delete, I evidently.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“A bare minimum they're gonna have to comport with the laws that already exist, and many of them weren't set up to do that. They were like, this is great. We're gonna allow you to mint, you're gonna free mint, and we'll all make money and live happily ever after. And then people started knocking on the door. Oh, but I actually own that. And that became problematic. It's the same arguments that we heard from internet providers and online service providers back in the day that we're just facilitating, we're connecting people to do their own thing and we have nothing to do with it except we're making money.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“Run afoul of SEC rules if it then starts kind of like fractionalized interest. We have these fractionalized NFT projects. If it currently exists and you want to buy a piece, that's one thing. Let's all buy a piece of the Mona Lisa. But if we're all going to send money to this common enterprise for the purpose of the future date getting return on the investment, that's something that's going to be problematic.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“So these projects in particular that are really up against the line of securities, meaning you send somebody a bunch of money and you're trusting them and they're promising you that they're going to give you a return on your investment at some future date really starts to come up against SEC rules and regulations. But there are a lot of projects that are close also to DAOs that are coming together for the purpose of raising money like the Constitution DAO to try and buy the Constitution and things like that. Coming together to buy something sounds a lot like crowdfunding and that is very different than securities but sending money based on advertising in the hopes of return on the profits by someone else's effort is definitely coming up against securities. So the thing that looks like a DAO and a really cool idea to go buy something does it start to”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“The SEC Writing recently that the SEC needed to take a closer look and perhaps give some guidance on NFTs and when, not if, but when certain NFT projects might also be considered securities, but they just haven't wound their way through enforcement, let alone to hit a federal court just yet.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“Seen it yet, it's so early. I mean, we're just starting to see the cases on the fungible side where we have this Block Fi settlement with the SEC for crypto lending. So you see some of those cases and also enforcement actions from a securities perspective. We see like the commodities and futures trading commission kind of wading in the wings, this securities and exchange commission is the SEC. And so some enforcement actions there. Far less so in the NFT space because even though I was writing and certainly talking about an NFT technology existed even before I got in in 2017, but really hit last year and this year in particular. And so we're just starting to see with the larger focus on it from the average person, you're going to have regulators as well wanting to figure out what's going on in the space. I saw Commissioner Purse, Hester Perce, she's a commissioner known as crypto mom on the space.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“Said it was coming. This is my, you know, this is my point exactly. We were talking about this two years ago, and I honestly, and I teach this every year. Don't know the status of the small claims copyright court and who has time. And in order to even sue people have to first register their copyright, people aren't doing that. So they're left to self-regulation within a community, thankfully in the NFT creative space built on community. That's the way that you see all these PFP projects and they're selling out in 15 minutes. So you have these great one-for-ones and they're being sold. It's a community that supports it. And if somebody is a rogue actor within that community, their token will end up being meaningless. And maybe that's the norm that we will see that is extra legal working outside of the legal regime, which may be the best result to avoid over-regulation, which also can be problematic in the copyright space.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“It off from somebody else, you can mint all of the infringing NFTs that you want once the community finds out and they blast you on hashtag crypto Twitter or hashtag NFT art it's game over. Your token is meaningless and it's worth nothing and they put the kibash on it well before anybody could go to small claims copyright court is that a thing yet I don't even I haven't been keeping up it should be a thing this year but I don't know”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“Overtime, but that was it. Now we have some advances over time. We have the broadening of subject matter. But the broadening of subject matter without, to your point, a real cognizable access to the average person to the extent they want to leverage these rights. You have worked with many people who don't, who believe that as long as you perhaps have some type of attribution, some people don't even care about attribution. I think social media feeds into that. So to your point, maybe we're getting further away from that. But the law is what it is, whether it is enforced, how and in what ways it's enforced may change over time. But I'm seeing a groundswell within the creative NFT community. Very upset about what's happening to their work and also doing a lot of self-regulation and self-policing. You can put something up in an NFT.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“Our system is set up to move slowly, our system of governance we think of Congress in the best of times, is set up to move slowly. Technology is not. And you know from the piano roll days all the way to where we are now, technology advances. We don't have a sufficient Originally, it was just for the publishers to make money off of creatives. It is evolved. I'm using air quotes because you all can't see me.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“Why on earth would you think we should change a law that is just from 1976 with a few tweaks here and there? What on earth would make you think that we need a new law in 2022? And we have a perfectly good law from 1976.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“Like, I don't see the balance there, and I certainly don't see any movement to change the actual law. Correct me if I'm wrong. Like, what I'm hearing from you is eventually more people will participate in value and our norms will change. Way we interact with the law will change because more people will understand what the law means and what their rights are and how they should interact with each other, which again, I'm not pessimistic. I'm just skeptical. I'm saying, I think the law needs to change. I don't see any movement there that the law is changing to account for what is happening with NFTs and what is happening with the internet more broadly.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“The controversy around TikTok dances, right? Like, who gets paid when a TikTok dance gets famous and then epic games turn it into a Fortnite emote? Right, that was a large group of internet users saying, hey, somehow this video game has turned this. Cultural moment Which everyone had for free into value, into real money. Somehow that should get passed back down to us. And then there was a flurry of cases. Alfonso Ribiero is the actor who played Carlton on Fresh Prince of Bel Air. He had that famous dance. He tried to sue epic games For copying that famous fresh print stance. And that, to me, was like, no, the goal is not to maximize copyright law and turn every little thing you do in the world into a potential infringement.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“I think I wouldn't say pessimistic. I'm more skeptical about that, right? Like we live in a world where everyone already who participates in the internet is a crater in some way, right? People are tweeting. They are posting to Facebook. They are”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“With NFT technology, that could be really cool. We're not exactly there yet, but those are things on the horizon. But getting back to your original point about the consumer as creative, once people are like, you know what? I actually want to make money off of what I've created. They're actually going to start caring. People don't care until they care. And if they're consuming without the requisite connection as a creative, they're just not going to get it. They're not going to get it because they want to use it and they don't want to pay for it. This is like the whole thing. But when people have something that they're selling, that they don't want to be ripped off, that's when you start getting people's attention about what copyright actually protects, what it means, and how they can leverage it.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“I think that at some point we'll get past, not past, but in addition to the creative and collectible, which is the sensational right now, we'll see just average uses and not just average, but also extension uses to represent credentialing and identity. So the fact that, you know, I've been out of school for a few minutes, if I had to go back to my high school, shout out to Friend Central in Philadelphia. If I had to go back to my high school to get my diploma, you know, it can cost money and time and who has time for that. But if it could be represented.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“But that is happening. It is operable on a few sites. And the more minting platforms that recognize this additional standard will allow these micropayments that you're mentioning on the NFT side. And I think that's a really powerful thing for creatives. And I also think we'll start to see some movement because they're more and more creatives who are not just consumers now. That was kind of the point of Web 2.0 and they're even larger markets at this point in time to be able to sell damn near anything, evidently to attach it to an NFT. That's a whole other show that we could do. Like, what are we attaching to NFT technology to?”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“The show Cool, cool. So, you know, taking these token standards and you have these lines of code, and as long as you use these, you can build on top of them, but that core will create either an ERC 721. It's like the first main non-fungible token standard, but 1155 is creating the minting ability that you are referring to to not just participate in downstream revenues on the same platform, but across platforms. So if I sold something on rare bull or super rare and then the next buyer takes it and sells it on some other platform, as long as that other platform also recognizes the 1155 standard, the person will continue to get paid. The problem is if someone can only be paid as long as it is sold on the same platform that it was minted on. The real game changer is your ability to go cross-platform and be able to buy, sell, trade these NFTs.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“Well it is this is a little bit slower but in the world of Ethereum there is a standard a token standard I think it's 1155 there are three four maybe five now I haven't looked in the last few months platforms that use instead of ERC 721 which is like one of the original non-fungible token standards piece of code and smart contracts. I don't know how wonky you want to get with that but wonky is wonky.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“Maybe you build some Web3 technology that allows people to get paid fractions of a Bitcoin whenever their work is displayed, right? This is the big promise. But none of that seems to be getting built either by any of these platforms.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“But again, I think we see that with privacy law. I think we see that with antitrust law, certainly with app market law. Are you seeing it in copyright law? Because that's like the thing that's slowest to move, but it's also the thing that affects everybody the most. That disconnect to me has always just seemed fascinating. Here you're trying to get a bunch of internet users to change how they believe the internet works, which maybe you will never do. You have a bunch of creators. Are saying, Hey, I get ripped off all the time, and you have platforms in the middle saying, Yeah, we're getting rich, though. Like more money than ever is happening on Instagram and YouTube and whatever.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“They will do it if they're not, they won't. And so that's why we see a lot of companies spending a lot of time on the hill lobbying to ensure that there is as little that they are required to do as possible because once they're required to do it, it's kind of a slippery slope from a regulatory point of view.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“Right, because that's added cost of doing business. They certainly don't want to, but I also think from let's analogize that to the privacy space where the same companies that said we can't use our technological capabilities to protect you against these various interactions with privacy, threats and the like, but then you go over to European nations and the same companies are asking you, well, you know, do you want our cookies? If you don't, that's fine. You can turn them off. There's a whole different experience when you use a VPN or you're in European nations with privacy than in the United States. That means that technological capabilities exist. And when companies are forced to do something in order to operate in a particular geofinched area, they will do it. And I bring that all the way back to what we're talking about in the NFT space and copyright. If they're required to do it in order to do business,”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“Value. Let's keep it at value and actually the NFT space is a great example of things that were sitting on the proverbial IP shelf collecting dust that the NBA top shots of the world are like, hey, I think we could monetize that in the NFT space and the giving it a second life. So creating value and value streams are important. Don't agree that there's nothing that can be done because the state of the art getting back to technology, do those technological capabilities exist? The short answer is yes. At what cost to the platform?”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT
“Right, but like suing somebody to get them to do something, at least when I was in law school, I was told that's not, you can get money, but you can never get somebody to do something. No court is ever going to order somebody. That's like the hardest thing to do. Suing Facebook to get them to add software to their software seems really hard. But then you take one step back, and like, oh, these photographers, their work is getting used for free. How do you solve that problem? Don't know how to solve that problem in the case of Instagram. Do you think there's any Web3 or blockchain products that solve that problem? Because that's the promise that I always hear, right? Why turning everything into money? The money will flow more freely, especially to creators.”
2022-02-22 · Decoder with Nilay Patel · Can the law keep up with crypto? With professor Tonya Evans · IDENTIFIED FROM THE TRANSCRIPT