Digital technology-based solutions for enhanced effectiveness of secured transactions law:the road to perfection?

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Show simple item record Rodríguez de las Heras Ballell, Teresa 2021-11-10T16:09:59Z 2021-11-10T16:09:59Z 2018-05
dc.identifier.bibliographicCitation Rodríguez de las Heras Ballell, T. (2018), Digital Technology-Based Solutions for Enhanced Effectiveness of Secured Transactions Law: The Road to Perfection?, Law and Contemporary Problems, 81(1), pp. 21-44
dc.identifier.issn 0023-9186
dc.description.abstract This article has two objectives. First, the article examines how the incorporation of specific digital technologies to the different stages of secured transactions could mitigate the imperfections of the secured transactions system and enhance its effectiveness. To begin with, an envisioned integrated ecosystem of smart property and self-executed smart contracts for security agreements could effectively reduce verification and monitoring costs. Next, a fully automatic electronic—maybe, blockchain-based—registry fed by a (IoT) network of interconnected assets would dramatically improve the accuracy of consistently-updated registered information. Furthermore, implanted AI-based solutions could be used to detect changes of circumstances and deviations from agreed provisions. Finally, AI-guided smart contracts could assist in decisionmaking to prevent breaches and automatically enforce remedies.8 Second, given this backdrop, the article focuses on some of the legal implications for secured transactions legal system and assesses whether the current legal framework is prepared to face the challenges inherent to these new technologies, to exploit the multitude of opportunities presented by the technologies, and to manage the involved risks. Alternatively, if the current system is incapable of taking on this challenge, this article will consider an appropriate legal response.
dc.description.sponsorship Research Project Reform of Spanish Laws of Security Rights in an international context (DER201677695-P).
dc.language.iso eng
dc.publisher Duke Law School
dc.rights Atribución-NoComercial-SinDerivadas 3.0 España
dc.subject.other Digital technology
dc.subject.other Collateral security
dc.subject.other Blockchains
dc.subject.other Internet of things
dc.subject.other Commercial law
dc.title Digital technology-based solutions for enhanced effectiveness of secured transactions law:the road to perfection?
dc.type article
dc.subject.eciencia Derecho
dc.rights.accessRights openAccess
dc.relation.projectID Gobierno de España. DER2016-77695-P
dc.type.version publishedVersion
dc.identifier.publicationfirstpage 21
dc.identifier.publicationissue 1
dc.identifier.publicationlastpage 44
dc.identifier.publicationtitle Law and Contemporary Problems
dc.identifier.publicationvolume 81
dc.identifier.uxxi AR/0000022753
dc.contributor.funder Ministerio de Asuntos Económicos y Transformación Digital (España)
dc.affiliation.dpto UC3M. Departamento de Derecho Privado
dc.affiliation.area UC3M. Área de Derecho Mercantil
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