Making Decentralized Autonomous Organizations (DAOs) Fit for Legal Life: Mind the Gap
In: Bank of Italy Occasional Paper No. 718
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In: Bank of Italy Occasional Paper No. 718
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In: European Review of Private Law, Band 26, Heft 6, S. 885-902
ISSN: 0928-9801
Abstract: The success of smart contracts based on distributed ledger technology (DLT) springs from their potential to secure contract performance when traditional legal enforcement remedies are not practical or too costly. EU policymakers and regulators have struggled for years to facilitate the enforcement of consumer rights while reducing transaction costs for businesses. The article argues that smart contracts can be a viable tool to address such a challenge. By virtue of their self-executing and tamper-proof character, smart contracts are suited to substantially reduce transaction costs in B2C relationships. So far, several legal scholars have raised concerns regarding both smart contracts inability to reflect relational aspects of contract governance and the augmented complexity generated by the translation of an agreement into computer code. Building upon the extant literature on the topic, the article explains why these problems can be overcome when it comes to consumer rights that are standardized and easily verifiable. Thus, smart contracts will likely prove suitable for specific industries, such as the transport sector. The article concludes that policy makers and regulators shall take the lead by testing, with a sector-specific approach, smart contracts ability to improve the consumer protection toolbox.
In: Borgogno, Oscar, Licenze F/Rand a confronto tra Usa, Ue e Cina: il Private Ordering come soluzione?, in "Mercato Concorrenza Regole, Rivista quadrimestrale" 1/2018, pp. 159-186, doi: 10.1434/90250
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In: GRUR international: Journal of European and International IP Law
ISSN: 2632-8550
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The European Commission's proposed Draft Regulation on Standard Essential Patents (SEPs) aims to overhaul the landscape of SEP licensing, addressing transparency deficits and fair, reasonable, and non-discriminatory (FRAND) terms amidst the burgeoning Internet of Things (IoT) market. Emphasizing concerns over hold-up risks, the Draft Regulation introduces mandatory essentiality checks and structured FRAND determinations to mitigate opportunistic behaviours among SEP holders. However, the practical implementation of these measures poses challenges, including the accuracy of essentiality assessments and the potential for increased transaction costs. Moreover, the Draft Regulation fails to consider the financial dimension of technological innovation, namely the potential of SEPs to function as valuable financial assets. By undermining the economic value of SEPs in terms of enforcement and monetisation, there is a risk of watering down their potential to serve as valuable financial collateral and therefore to help innovators access debt financing.
In: European journal of risk regulation: EJRR ; at the intersection of global law, science and policy, Band 15, Heft 1, S. 137-152
ISSN: 2190-8249
AbstractNo matter how good a smart device may be, it remains useless outside the context of a digital ecosystem. Internet of Things (IoT) environments are possible as long as services and products can interconnect smoothly and exchange data in real time. Therefore, interoperability ranks high in global policy agendas, with the promise of bringing an end to network effects slanted in favour of ecosystem orchestrators. However, recent regulatory initiatives introducing interoperability obligations risk falling short of their intent or even risk generating unintended consequences in the absence of a coherent approach to standardisation. Against this backdrop, focusing on the UK Open Banking experience, this article makes a proposal for workable interoperability in IoT ecosystems aimed at ensuring market contestability without undermining incentives to innovate.
In: Deep-In Working Paper; a modified version is forthcoming in the European Journal of Risk Regulation
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In: Deep-In Research Paper, 2023; a revised version is forthcoming in Journal of Intellectual Property, Information Technology and E-Commerce Law (JIPITEC)
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In: The Antitrust bulletin: the journal of American and foreign antitrust and trade regulation, Band 67, Heft 3, S. 451-494
ISSN: 1930-7969
Among the numerous legislative initiatives implemented around the globe on digital platforms, some of these provisions are explicitly directed toward app stores. As they have all the distinctive features of multi-sided markets, app store owners represent the prototype of digital gatekeepers, controlling access to mobile ecosystems and competing with business users operating on the platforms. In light of the rule-setting and dual role of these gateway players, regulatory interventions are required in order to ensure that large app stores are treated like common carriers or public utilities, thereby imposing upon them a neutrality regime vis-à-vis new entrants. For the very same reasons, dominant app store providers have been subject to an increasing number of antitrust investigations attempting to ensure equal treatment and to avoid self-preferencing at the expense of rivals' services. Against this background, the article investigates whether antitrust provisions are flexible enough to curb anticompetitive practices carried out by app stores and the extent to which regulatory interventions could, on the other hand, be necessary in order to address the seemingly unique features of the app economy.
In: Stanford-Vienna TTLF Working Paper No. 83, 2022; a modified and updated version of the paper is forthcoming in The Antitrust Bulletin
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In: DEEP-IN Research Paper; TOELI Research Paper (2021); a modified version of the paper is forthcoming in "Queen Mary Journal of Intellectual Property"
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In: a revised version is forthcoming in Journal of European Consumer and Market Law
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In: forthcoming in European Competition Journal
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Working paper
Application Programming Interfaces (APIs) have been identified by the European Commission as a key enabler of interoperability among private and public undertakings. Further, a systematic adoption of open and standardized APIs by firms and developers appears crucial to unlock competition and ultimately promote the flourishing of Artificial Intelligence (AI) and Internet of Things (IoT) innovation. Analysing the main European regulatory initiatives which have so far surfaced in the realm of data governance (right to personal data portability, free flow of non-personal data, access to customer account data rule, re-use of government data), it seems that the EU legislator is not tackling the matter consistently. Indeed, on one side, all these initiatives share a strong reliance on APIs as a key facilitator to ensure a sound and effective data sharing ecosystem. However, on the other side, all these attempts are inherently different in terms of rationale, scope and implementation. The article stresses that data sharing via APIs requires a complex implementation process and sound standardization initiatives are essential for its success. Moreover, data pooling agreements need to be targeted in advance by competition law so to incentivize their adoption and leverage their pro-competitive potential. As for pricing and compensation issues, we point out that placing excessive reliance on fair, reasonable and non-discriminatory (FRAND) terms might be counterproductive.
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