Abstract
The study on issues of digital economy proved the current existence of the new “digital” economic reality. The traditional legal apparatus used for the statutory regulation of this new economic reality showed itself not only inefficient, but also significantly restraining the actively developing economic processes. In this regard, a plenty of practical and legal collisions occur related to the problems of identification of persons involved in civil-law transactions, property relations regarding digital economic turnover (for instance, relations concerning property rights in the field of distributed ledgers), registration of property rights and deals, regulation of banking line processes, formation of special protection models for relationships based on the use of digital technologies including issues of cybernetic and data security. The development of digital economy will inevitably influence legal principles and demand reconsidering some of doctrinal approaches to traditional legal models of regulating different types of economic activities. In this case, socially just changes in the legal regulation of economic activities should be primarily aimed at removing legal barriers that impede the development of digital economy, as well as at synchronizing legal rules with the technological features of economy’s functioning.
Highlights
The economy absolutely prevails over legal regulation
Nowadays one can state the existence of the new “digital” economic reality, for the legal regulation of which the old legal apparatus showed itself ineffective
In 2018, Russia was actively developing the concept of priority measures on improving legal regulation in order to accelerate the development of the digital economy
Summary
The economy absolutely prevails over legal regulation. Any attempts to change this by putting legal regulation over economic processes are foredoomed to inevitable failure, since such economy will rapidly and dramatically collapse. The widespread introduction of digital technologies caused fundamental change in the economy character. The plenty of economic processes are modeled, maintained and operated according to the new management principles that are based on digital innovations: distributed registries; arrays of big data; new methods of analysis and mathematical modeling. Vorobyov and others specify factors for the effective development of electronic commerce, some of which are the following: development of information and computer infrastructure, interactive communities, information resources, knowledge bases, digital environment, new forms of electronic communications, platforms for integrating business, government and society [14]
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