SLIDE 1
PANEL
Distributed Ledgers and the UNCITRAL Model Law on Transferable Records
Brno, 24-25 November 2017
Topic: The Architecture of Digital Economy: intermediaries, platforms and …distributed ledgers
Teresa Rodríguez de las Heras Ballell Professor of Commercial Law, Universidad Carlos III de Madrid 2017 Chair of Excellence, CLC, Harris Manchester College Oxford University teresa.rodriguezdelasheras@uc3m.es
SLIDE 2 1.- Principles of Electronic Commerce: transactions and architectures
PRINCIPLE OF TECHNOLOGICAL NEUTRALITY PRINCIPLE OF FUNCTIONAL EQUIVALENCE Transactions
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Components
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ELECTRONIC TRANSFERABLE RECORDS
+
’substantive law’ requirements
- principle of numerus clausus
?
purely electronic trasnferable records
SLIDE 3 1.- Principles of Electronic Commerce: transactions and architectures
CONCEPT OF ELECTRONIC RECORD
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CONCEPT OF ELECTRONIC TRANSFERABLE RECORDS
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DATA DATA DATA
SLIDE 4 1.- Principles of Electronic Commerce: transactions and architectures
PRINCIPLE OF TECHNOLOGICAL NEUTRALITY PRINCIPLE OF FUNCTIONAL EQUIVALENCE Transactions
Order number 8 Quantity Delivery +++++++ ````````````
Components
aiuerhhgt aiuerhhgt
PRINCIPLE OF SYSTEM/ARCHITECTURE NEUTRALITY PRINCIPLE OF SYSTEM/ARCHITECTURE EQUIVALENCE
SLIDE 5
1.- Electronic Registry-based System: Defining the Model - OVERVIEW
REGISTER AS A PLATFORM
SLIDE 6 2.- Electronic Registry System: Defining the Model - FEATURES
Defining electronic registry system: distinctive features
X). Might a blockchain-based registry be an option? Y). Is blockchain
compatible with legal design? * See next example for mixed models
SLIDE 7
* Example of Blockchain-based register design: BitFury for Georgia – a combination of descentralizaded and centralized schemes
SLIDE 8 Distributed Ledgers and UNCITRAL Model Law on Electronic Transferable Records
Identification or anonymity Article 5. ETR Management Systems allows no identification – issuance to bearer if permitted by substantive law Article 6 Additional information:
- for technical reasons: metadata / unique
identifier
Additional information
Oracles Smart Devices
Other Registers
SLIDE 9
Consent
Distributed Ledgers and UNCITRAL Model Law on Electronic Transferable Records
Membership agreement – Platorm Rules
SLIDE 10
Topic: The Architecture of Digital Economy: intermediaries, platforms and …distributed ledgers
Teresa Rodríguez de las Heras Ballell Professor of Commercial Law, Universidad Carlos III de Madrid 2017 Chair of Excellence, CLC, Harris Manchester College Oxford University teresa.rodriguezdelasheras@uc3m.es
