THREE QUESTIONS TO CÉDRIC DUBUCQ ASSOCIATE LAWYER AT BRUZZO DUBUCQ
They are our clients, our friends, good contacts or just people we met in the crypto-community. They have new vision, they are running great projects, they are developing new services or they just want to share their story. Havas Blockchain is interviewing key people of the blockchain ecosystem.
We are today with Cédric Dubucq, senior manager at Bruzzo Dubucq:
- As a starter, can you present your activities in term of blockchain ?
As a lawyer I represent the interests of my clients, including those who are dealing with blockchain issues.
Whether they are investment banks, crypto funds, entrepreneurs wishing to achieve an ICO, states who want to use the blockchain technology to avoid a third party (voting rights, land registry), or, companies wishing to use this technology without neceserally raising funds, for exemple, for reputation purpose.
2. What projects have you’ve been working for ?
We are currently in charge of ten important case files linked to the art market, the tokenization of gold, the use of blockchain for the circularization of financial securities and corporate shares. Another project consists to improve the liquidity of real estate assets and UCITS. We are working with policier who want to explore the right to vote through the blockchain, and a European Capital that approaches smart cities by integrating the blockchain technological dimension.
3. What is your view on STOs ?
In practice, we have seen a change : STOs have replaced ICOs, precisely because, almost systematically investors had the idea, when they brought tokens, to resell them in the future, on the secondary market. Speculation was therefore consubstantial with their commitment. To consider the token, in this case, as a right of use does not really make sense, which is why some regulators have preferred to qualify it as securities, and to subject promoters to public offerings regulation.
In the short term, we will switch to the tokenisation of shares, UCITS ect… Thus will make share ownership liquid and will open up new opportunitues for entrepreneurs by offering an easier access to investment for exemple. This will also allow investors to be better informed, more secure and above all, to be able to exchange their shares much more easily than now. Costs will be significantly reduced through automated workflow, possibly under the control of a trusted third party acting as an oracle.
The blockchain offers an incredible playground for states, companies and investors. We must support them by providing them with specific advice, and by integrating the economic, technical, organisational, marketing/communication dimension in order to addressing the appropriate legal qualification and its consequences.