Functional Equivalence: An Exploration Through Shortcomings to Solutions

Autor: Veerpalu Anne
Jazyk: angličtina
Rok vydání: 2019
Předmět:
Zdroj: Baltic Journal of Law & Politics, Vol 12, Iss 2, Pp 134-162 (2019)
Druh dokumentu: article
ISSN: 2029-0454
DOI: 10.2478/bjlp-2019-0015
Popis: Since the emergence of cyberspace there have been different legal principles evolving, such as functional equivalence and technology-neutrality, with the aim to ease the regulator´s challenge of coping with the new paradigm of virtual, digital and electronic. Currently our societies have reached the doorstep of another similar disruption: infrastructures decentralized on the basis of blockchain and distributed ledger technology, or so-called cryptoeconomics. It is time to turn to cyberspace-related principles for inspiration on how to solve similar concerns, such as applying existing regulation(s) to new technological disruption. This article looks at different understandings of the functional equivalence principle, its shortcomings and the guidance it provides to regulators and courts in dealing with the challenges related to technological innovation including that of cryptoeconomics.
Databáze: Directory of Open Access Journals