Author Archives: Content in Context

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About Content in Context

Content in Context helps companies to define the market for their products and services, to identify customers and build the business pipeline, and to develop their content marketing strategies. By working with our clients to design, build and grow their business, our primary focus is to extract commercial value from unique assets, including knowledge, data, know-how, processes and transactional information.

Smart Contracts… or Dumb Software

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The role of smart contracts in blockchain technology is creating an emerging area of jurisprudence which largely overlaps with computer programming. However, one of the first comments I heard about smart contracts when I started working in the blockchain and crypto industry was that they are “neither smart, nor legal”. What does this paradox mean in practice?

First, smart contracts are not “smart”, because they still largely rely on human coders. While self-replicating and self-executing software programs exist, a smart contact contains human-defined parameters or conditions that will trigger the performance of the contract terms once those conditions have been met. The simplest example might be coded as a type of  “if this, then that” function. For example, I could create a smart contract so that every time the temperature drops below 15 degrees, the heating comes on in my house, provided that there is sufficient credit in the digital wallet connected to my utilities billing account.

Second, smart contracts are not “legal”, unless they comprise the necessary elements that form a legally binding agreement: intent, offer, acceptance, consideration, capacity, certainty and legality. They must be capable of being enforceable in the event that one party defaults, but they must not be contrary to public policy, and parties must not have been placed under any form of duress to enter into a contract. Furthermore, there must be an agreed governing law, especially if the parties are in different jurisdictions, and the parties must agree to be subject to a legal venue capable of enforcing or adjudicating the contract in the event of a breach or dispute.

Some legal contacts still need to be in a prescribed form, or in hard copy with a wet signature. A few may need to be under seal or attract stamp duty. Most consumer contracts (and many commercial contracts) are governed by rules relating to unfair contract terms and unconscionable conduct. But assuming a smart contract is capable of being created, notarised and executed entirely on the blockchain, what other legal principles may need to be considered when it comes to capacity and enforcement?

We are all familiar with the process of clicking “Agree” buttons every time we sign up for a social media account, download software or subscribe to digital content. Let’s assume that even with a “free” social media account, there is consideration (i.e., there’s something in it for the consumer in return for providing some personal details), and both parties have the capacity (e.g., they are old enough) and the intent to enter into a contract, the agreement is usually no more than a non-transferable and non-exclusive license granted to the consumer. The license may be revoked at any time, and may even attract penalties in the event of a breach by the end user. There is rarely a transfer of title or ownership to the consumer (if anything, social media platforms effectively acquire the rights to the users’ content), and there is nothing to say that the license will continue into perpetuity. But think how many of these on-line agreements we enter into each day, every time we log into a service or run a piece of software. Soon, those “Agree” buttons could represent individual smart contracts.

When we interact with on-line content, we are generally dealing with a recognised brand or service provider, which represents a known legal entity (a company or corporation). In turn, that entity is capable of entering into a contract, and is also capable of suing/being sued. Legal entities still need to be directed by natural persons (humans) in the form of owners, directors, officers, employees, authorised agents and appointed representatives, who act and perform tasks on behalf of the entity. Where a service provider comprises a highly centralised entity, identifying the responsible party is relatively easy, even if it may require a detailed company search in the case of complex ownership structures and subsidiaries. So what would be the outcome if you entered into a contract with what you thought was an actual person or real company, but it turned out to be an autonmous bot or an instance of disembodied AI – who or what is the counter-party to be held liable in the event something goes awry?

Until DAOs (Decentralised Autonomous Organisations) are given formal legal recognition (including the ability to be sued), it is a grey area as to who may or may not be responsible for the actions of a DAO-based project, and which may be the counter-party to a smart contract. More importantly, who will be responsible for the consequences of the DAO’s actions, once the project is in the community and functioning according to its decentralised rules of self-governance? Some jurisdictions are already drafting laws that will recognise certain DAOs as formal legal entities, which could take the form of a limited liability partnership model or perhaps a particular type of special purpose vehicle. Establishing authority, responsibility and liability will focus on the DAO governance structure: who controls the consensus mechanism, and how do they exercise that control? Is voting to amend the DAO constitution based on proof of stake?

Despite these emerging uncertainties, and the limitations inherent in smart contracts, it’s clear that these programs, where code is increasingly the law, will govern more and more areas of our lives. I see huge potential for smart contracts to be deployed in long-dated agreements such as life insurance policies, home mortgages, pension plans, trusts, wills and estates. These types of legal documents should be capable of evolving dynamically (and programmatically) as our personal circumstances, financial needs and living arrangements also change over time. Hopefully, these smart contracts will also bring greater certainty, clarity and efficiency in the drafting, performance, execution and modification of their terms and conditions.

Next week: Free speech up for sale

 

My love/hate relationship with Science Fiction

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Watching the latest installment of “The Matrix”, I was reminded of my love/hate relationship with Science Fiction. I wouldn’t count myself as a huge SF fan, but I dip my toe in from time to time, and occasionally find a sub-genre, eco-system or franchise that draws me in deeper, whether via television, film or literature. Unfortunately, while the original “Matrix” movie (and maybe the first sequel) managed to be original, entertaining and engaging, by the time of “The Matrix Revolutions” both the plot and the characterisation had run thin. When I saw the trailers and the pre-launch campaign for “The Matrix Resurrections”, I was sufficiently intrigued to want to see it, especially in light of recent geo-political events. Sadly, it was a huge waste of time: the plot was banal, and the story-line disjointed; there were awkward flashbacks to the previous films (in large part to remind us of the actors who originally played the current characters?); and there were far too many retrospective explanations to justify the present “narrative”. The whole thing felt like another Keanu Reeves character had stumbled into a dystopian Lewis Carroll landscape – “Wick in Wonderland” would have been a more suitable title.

“The Terminal Man” by Michael Crichton (image sourced from the author’s website)

Growing up in the UK in the 1960s, my school friends and I avidly watched a bunch of TV programmes that found a young and eager audience for SF. These productions also spawned multiple re-boots, spin-offs and imitators, as well as giving rise to the franchise phenomenon that dominates much of today’s cinema. Those early shows included “Star Trek”, “Lost in Space”, “Planet of the Apes” and “Land of the Giants”. All of these programmes were American, which I suppose made them seem even more exotic, and therefore more appealing, to our impressionable minds.

By contrast, British television had produced the “Quatermass” TV series back in the 1950s, and “Dr Who” (launched in 1963), both of which pre-dated their US counterparts by several years. But in my mind these domestic efforts were firmly rooted in Gothic horror – more H.G.Wells and Jules Verne than Isaac Asimov and Philip K. Dick? – and therefore they felt less futuristic, especially when we were witnessing the real-life events of the Space Race on the evening news. Which is probably why even Gerry Anderson’s puppet creations such as “Fireball XL5”, “Thunderbirds” and “Captain Scarlet” resonated with me more than Daleks and Cybermen. So to me, British television was more successful in producing psycho-dramas founded upon stories of espionage set against backdrop of the Cold War, with programmes such as “Danger Man”, “The Avengers”, “The Champions” and “The Prisoner” being far more evocative of contemporary themes and fashions, notwithstanding some creaky plot lines.

Later, I would watch classic SF films of the 1950s, such as “The Day the Earth Stood Still”, “The Blob” and “Forbidden Planet” which, despite their technical limitations, are still key reference points for fans of the genre; they also convey elements of Cold War paranoia, and the perennial fear of “the other”. Then, as a young teenager, I found myself reading SF novels, including works by Asimov, John Wyndham, Aldous Huxley, Michael Crichton, Norman Spinrad, Brian Aldiss and J.G.Ballard. Ballard, of course, preferred to explore “inner space” rather than outer space, and this means his writing contains universal themes that are not constrained by contemporary accounts of futuristic technology. In fact, this theme of “inner space” probably underpins my preferences within the SF genre, as evidenced by 1960s movies I managed to see when I was older, such as “Seconds”, “Alphaville”, and “Fahrenheit 451”.

Despite an aversion for SF that is over-reliant upon technology as a plot technique, I have enjoyed some recent novels that engage with emerging technology such as AI and robotics – great examples would include William Gibson’s “Agency”, Ian McEwan’s “Machines Like Me”, and Jeanette Winterson’s “Frankissstein”.

However, if I was to delineate my personal likes/dislikes of SF in film and on TV, I would probably list them as follows:

  • As a child, I loved the original “Star Trek”, but I’ve never seen a “Star Trek” film or any of the newer TV series
  • I’ve never seen a “Star Wars” film, and have no desire to
  • “Moon” was great, and “Source Code” wasn’t bad either
  • I really enjoyed “Close Encounters of the Third Kind”, and I appreciated “Contact”, “Arrival”, “Interstellar” and “The Martian”
  • “Gravity” was somehow plausible, whereas “Elysium” was a stretch
  • “2001: A Space Odyssey” is in a class of its own
  • Same with “The Man Who Fell To Earth”
  • I loved the first four “Alien” movies, but I disliked the so-called prequels, and I’ve avoided the “Predator” cross-overs
  • The original “Terminator” film was great, but the sequels prove the law of diminishing returns
  • I really enjoyed “Looper” and in a somewhat similar vein, “Inception”
  • I couldn’t ever get into the “X-files” – but I was hooked on “Twin Peaks”
  • The original “Westworld” movie was fine, but I have no interest in the recent TV series
  • Similarly, I love the original film versions of “Blade Runner” and “Total Recall”, but see no point in the later remakes
  • And while I used to watch re-runs of the original “Twilight Zone” series, I’ve not seen the later re-boot; however, “Black Mirror” got my attention
  • “Donnie Darko” yes, “Stranger Things” no
  • Overall, I tend to avoid SF that is more firmly rooted in the sub-genres of horror, fantasy, magic, super heroes (with super powers), space westerns, superstition, disaster themes and most tales of the supernatural (and anything with Kevin Costner….)

Finally, there is room for humour in SF, if done well – such as “Dark Star”, “Mars Attacks!”, and “Tremors”; even the first “Men in Black” effort is head and shoulders above “Wild Wild West”….

Next week: Smart Contracts… or Dumb Software

Music with literary leanings

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A few weeks ago, I responded to a question posted on Twitter about “songs named after books”, little realizing the rabbit warren I would subsequently find myself going down (social media can have that effect…).

Image sourced from L.W.Currey, Inc.

There has long been a close relationship between popular music and literature – think about the connection between “West Side Story” and William Shakespeare, for one. Songwriters are often inspired by the titles or themes of books and plays for their own compositions – “Wuthering Heights” by Kate Bush being one of the most obvious, and “White Rabbit” by Jefferson Airplane being one of the more lysergic…

Some bands even name themselves after literary references; William Boroughs can claim credit for bestowing both Steely Dan and Soft Machine with their monikers. (In Australia, The Triffids, The Go-Betweens and Sexing the Cherry offer similar examples of groups taking their names from novels.) And of course, David Bowie employed Burroughs’ cut-up technique for writing his lyrics, as well as being inspired by Nietzsche, Orwell and Burgess, etc.

A number of bands I listened to in the late ’70s drew on their own teenage reading as key reference texts. Groups like Joy Division, Magazine, The Cure, The Buzzcocks, The Fall (naturally!), Josef K (of course!) and even The Jam all revealed their familiarity with Penguin Modern Classics and Pan paperback editions of Kafka, Sartre, Dostoevsky, Gogol, Fowles, Ballard, Murdoch, Bukowski, Plath, Nabokov and Huxley, to name but a few.

Of course, this traffic is not all one-way. Writers such as Ian Rankin and Nick Hornby, in their respective ways, have made use of musical themes and references for their novels. Elvis Costello is an interesting example of this flow and ebb of influences (conscious or otherwise). In his 1982 album, “Imperial Bedroom”, Costello name-checks books by Evelyn Waugh, Mary Scott and Emlyn Williams. In turn, the album seems to have inspired Brett Easton Ellis and Stephanie Bishop.

However, for sheer worm hole appeal, the works of Thomas Pynchon deserve a Nobel Prize for inspiring a whole thread of academic research in this area of literary influences. There’s probably a PhD thesis or two out there on this exact topic. At the risk of making this an indulgent and self-referencing blog, the band I was in from 1979-1983, Greenfield Leisure, recorded a song called “Too Fat To Frug” (the one song of ours that John Peel liked). The words were adapted from “Miles’s Song”, one of the lyrics Pynchon wove into “The Crying of Lot 49”, published in 1966. Even back in the ’60s, Pynchon was a source for popular culture, if the title of a 1967 comic is anything to go by, and a trend which seems destined to continue.

Finally, my thanks to Gary Wigglesworth for triggering this post.

Next week: My love/hate relationship with Science Fiction

 

Vinyl on the brain

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In planning to write a blog on vinyl records, I was responding to recent personal experiences and insights on this topic. Then events somewhat overtook me, as I learned of the death this past weekend of Philip Jeck (more on him later). So this post has taken on a slightly different tone.

Image sourced from Vintage Everyday

The initial trigger for this blog came from the realisation that I’ve been spending more time on Twitter engaging with fellow vinyl enthusiasts – and of course, this interest has been amplified by social media algorithms and their “preferences” and “recommendations”. In my experience, most people who post content about music in general (and vinyl in particular) tend to be much nicer than those who indulge in the didactic venom and unfiltered hate speech that passes for “social commentary” these days. But this just goes to prove that you find your audience (and your confirmation bias?) where you choose to seek them.

Part of this on-line engagement is prompted by a passion for collecting, and a love of sharing. Yes, it could merely relate to showing off one’s vinyl stash, and may reveal fetishistic tendencies – but frankly, there are far worse vices. A lot of the commentary details successful crate-digging, charity shop bargains, and re-discovered hidden gems. In fact, the prospect of finding an over-looked classic, unearthing a valuable rarity, or simply completing a gap in your collection often drives this obsession. So much so, that recently I found myself dreaming of records which I know don’t exist, but in so much detail that part of me thinks these artefacts must be out there somewhere!

Like many music enthusiasts, I was first exposed to vinyl records via my parents’ and then my sisters’ collections. For a time in the late ’60s, my dad used to visit EMI on business, and would sometimes come home on a Friday having picked up a new release or two, most memorably the first few singles on the Beatles’ Apple label. I probably got the collecting bug more than my siblings, and still recall the key albums I bought with my own money: “Tubular Bells” by Mike Oldfield, “Autobahn” by Kraftwerk, and “A Clockwork Orange” by Wendy Carlos – which probably confirms my personal bias for instrumental, electronic and soundtrack music.

Then, I started playing in bands with mates from school, an interest that was further fueled by the arrival of punk rock, and the realisation that there was more to music than the Top 40 and old hippies singing into their patchouli-drenched afghan overcoats. One group I was in, Greenfield Leisure, received an airing on John Peel’s BBC Radio 1 programme (the Holy Grail for aspiring musicians at the time), but mostly these bands existed on home-made demo tapes, and were only ever heard (and rarely appreciated…) by our long-suffering families. Later, I worked in a chain of infamous second-hand record stores in London, which, if nothing else, revealed some of the weirder ends of the vinyl-collecting public. It also helped expand my musical knowledge, but at the cost of a fair chunk of my paltry shop wages.

Vinyl is not necessarily the most convenient format of music – it’s not as portable as digital, and not as robust as CD. Records get scratched, they warp, the grooves fill up with dust, and the sleeves get battered and torn. So, despite advances in technology, and the huge market for digital music and streaming services, why have vinyl records endured?

The continued and renewed interest in music on vinyl cannot be explained by a single factor – this phenomenon is as multi-faceted as the genres of music people listen to.

First, whether or not driven by events like Record Store Day, limited edition releases, box set retrospectives or physical copies being shipped with download coupons, vinyl sales are steadily on the up. But as a proportion of how people listen to music each week, purchased music (physical and download formats) comprises less than 10%, while streaming formats account for two-thirds of our listening.

Second, the tactile nature of vinyl records, plus the opportunity they present for creativity in their use of artwork, design and packaging, can generate a more engaging and long-lasting experience. As someone said recently on Twitter, you probably don’t remember the first music you downloaded or streamed, but it’s very likely you remember the first record you bought.

Third, quite apart from the vast amount of artist and label back catalogue being reissued on vinyl, more and more new and contemporary music is being released on vinyl as well as digital – sometimes, there’s not even a CD edition.

Fourth, swathes of back-catalogue can only be accessed via original vinyl editions, having never been re-issued during the hey-day of CDs in the 1990s and early 2000s. In fact, even where current and past releases have been released for streaming and/or download, the vagaries of geo-blocking can mean that this digital content is not available in all territories.

Finally, the economics of streaming (and to a lesser extent, downloads) have revealed that artists receive just a tiny proportion of the subscription revenue generated by Spotify, Apple and others, which can make vinyl purchases more attractive to music fans. This dynamic has also made direct-to-buyer platforms like Bandcamp more appealing to artists and fans alike.

Back to Philip Jeck, a sound artist who transformed piles of dusty old records into a musical experience. Using techniques he gleaned from watching hip-hop DJs and post-modern turntablists, he curated (rather than composed) sound collages built up from layers of seemingly forgotten and anonymous recordings, turning them into live art. I was fortunate enough to see him perform twice. The first was in 1993, when he presented his magnum opus “Vinyl Requiem” at the Union Chapel in North London. The second was in 2008, for a much more intimate solo performance at The Toff in Town, Melbourne. In both cases, the use of streaming could not have resulted in such a strong creative process or delivered such immersive listening.

Next week: Music with literary leanings