We held Datasymposium 2023 – one of Finland's largest events focusing on data regulation and data utilisation – on 25 October at Bio Rex Lasipalatsi. The popular event, organised in partnership with Technology Industries of Finland, gathered hundreds of experts to discuss the effects of EU's new data regulation and its application from the perspective of trade secrets and data privacy ...
Carey Olsen advises Lightspeed Faction on launch of blockchain venture capital fund The fund is a collaboration between Lightspeed Venture Partners (Lightspeed) and the Faction partnership through the newly formed cryptocurrency firm, Lightspeed Faction ...
The Markets in Crypto Assets Regulation (MiCA)1 provides the legal framework for digital asset services within the European Union. This regulation, detailed with its 149 articles and 6 annexes, mandates that entities wishing to provide digital asset services across the EU must secure authorisation in one of the EU Member States ...
In recent months, colleagues in Scotland have been working closely with Glasgow City of Science and Innovation to partner in raising the profile of the Glasgow City Region on a national and international scale, showcasing its potential as a world-class hub for research and innovation ...
The acceleration in the development of Artificial Intelligence (AI) and machine learning technologies has been identified as a significant disruptor, influencing the design, operation, and location of data centres. AI models require large scale datasets and substantial computational power for training ...
The power and the peril of generative AI has been one of the most talked- about topics in legal circles since ChatGPT's explosion into public conscience in late 2022. The arrival of generative AI into our world is now a stark reality. Lawyers need to understand both the basics of the technology and its legal implications when considering the use of generative AI ...
In a recent panel session I attended at the CAN DO Summit in Glasgow featuring Lina Srebrova, XR Strategist at Digitalnauts, and Prof. Paul Chapman, Director of Emerging Technology at the Glasgow School of Art, the conversation delved into the disruptive potential of immersive technologies, particularly virtual reality (VR) and augmented reality (AR), on both society and business ...
Yesterday, Shoosmiths hosted an event by The Fashion Network titled ‘Trend Forecasting & Analysis Masterclass: For Fashion & FMCG Retail Business’. During this event we heard from fashion industry leaders on how the landscape of retail and marketing is ever evolving, influenced by a myriad of factors ranging from consumer behaviour to emerging technologies ...
On 26 October 2023 the Online Safety Act (‘the Act’) received Royal Assent, enacting rules designed to, in the UK government’s words, make the UK the safest place in the world to be online ...
Shoosmiths’ head of technology sector Joe Stephenson attended the Tech and Innovation Summit, focused on how public and private sector organisations are supercharging innovation into action. In today's rapidly evolving technological landscape, staying ahead of the curve is crucial for businesses and governments alike. Below, we reveal our key takeaways from the event: Data Centres: Meeting the Demand for Growth The digital age has ushered in a surge in data generation and consumption ...
Given the pace of change over recent months it seems a cliché to say we’ve had an eventful couple of weeks for AI, but just a week on from the UK's AI Safety Summit at Bletchley Park, which followed hot on the heels of a sweeping executive order on AI from the Biden administration, it is worth reflecting on where the events of the last 10 days or so leave us in terms of prospective regulation of AI ...
The King's Speech 2023 unveiled an ambitious vision for the future of transportation - heralding a new era of self-driving vehicles in the UK. The speech introduced a comprehensive plan to integrate autonomous vehicles into daily lives, as part of the government's commitment to advancing transportation technology. The proposed Automated Vehicles Bill will provide the Department for Transport with the necessary authority to certify the safety of driverless vehicles ...
India Business Law Journal Article Published on November 6, 2023 Our annual ‘State of the Legal Market’ survey finds that AI, specialist firms, discerning clients and the paired trends of fragmentation and consolidation are preoccupying the legal community. Katherine Abraham reports Big changes are afoot in the Indian legal landscape with the arrival of foreign firms and the integration of artificial intelligence (AI) technology ...
A recent data protection fine highlights the risks of getting a few key things wrong. Fines for large data security breaches always grab press attention, however a recent €600,000 fine from the French data protection regulator (the CNIL) brings into sharp focus the risks for businesses when they get a few key things wrong without any catastrophic failures amongst them ...
Our present time is in constant evolution and Artificial Intelligence (AI) has demonstrated its ability to revolutionize entire industries and improve our quality of life in many aspects. In our global interconnectedness, it is a reality that organizations are already working on implementing AI for various purposes, including improving processes and the way they do business ...
Contents Government attitude and definition Cryptocurrency regulation Sales regulation Taxation Money transmission laws and anti-money laundering requirements Promotion and testing Ownership and licensing requirements Mining Border restrictions and declaration Reporting requirements Estate planning and testamentary succession Government attitude and definition The BVI has established itself as a leading offshore finance centre that is resilient, agile and innovative in the
Contents Government attitude and definition Cryptocurrency regulation Sales regulation Taxation Money transmission laws and anti-money laundering requirements Promotion and testing Ownership and licensing requirements Mining Border restrictions and declaration Reporting requirements Estate planning and testamentary succession Government attitude and definition The Cayman Islands is a leading global financial centre and has developed a reputation as one of the world’s most
Contents Please click on the links below to jump to the relevant section: Government attitude and definition Cryptocurrency regulation Digital Asset Business Act Scope of the DABA Licensing requirement Application process Criteria to be met by licensees Continuing obligations of licence holders BMA’s supervision and enforcement powers Digital Asset Issuance Act Scope of DAIA Authorisation requirements Authorisation criteria Ongoing obligations BMA’s supervis
At Halloween, we look at whether data protection laws protect doorstep trick-or-treaters and how technologies such as CCTV and smart doorbells can be used lawfully under data protection law. Along with the ghosts and goblins, bands of happy revellers may be preparing to roam the streets this Halloween to get their seasonal sweet fix armed with nothing more than a pumpkin lantern and hopeful smile ...
At the end of last week, the FT published a guest article on quantum computing. For those unfamiliar with quantum computing, it is the technology that will be capable of harnessing the powers of quantum mechanics to solve problems which are too complex for ‘classical’ computers (the computers of today). Classical computing employs streams of electrical impulses to encode information: an electrical impulse may be only 1 or 0 (i.e. on or off) – a classical 'bit’ ...
Although this is a developing area, many billions of assets under management have already been tokenised. High profile managers such as Franklin Templeton, Abrdn, KKR, Mitsui and Hamilton Lane have already launched tokenised products. Tokenised assets nonetheless still represent a tiny percentage of the funds industry. We expect this area to grow exponentially in the coming years. What is tokenisation? Tokenisation is the digital representation of 'traditional' financial assets (e.g ...
