Distributed Ledger Technology as a Tool for Voluntary Standardization Compliance in Emerging Technologies: A Legal View

Abstract

Emerging technology products would benefit hugely from the introduction of voluntary standards. Those, however, are costly to adopt, especially for smaller players. Further, popularizing the standards and policing compliance is difficult. This paper makes the case for empowering the users to police the voluntary standards. Utilizing Distributed Ledger Technology (DLT), more precisely Directed Acyclic Graph will reduce the costs of recording and storing individual measurements for each product allowing users to claim compensation every time the product doesn't perform according to specifications. The paper discusses the specific requirements the product should meet to utilize DLT as compliance tool. It is also discussing the specific legal issues that entail from empowering users to police standard compliance.