Digital economy: theoretical and legal enforcement issues in terms of regional aspect

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.