E-commerce offers immense challenges to traditional dispute resolution methods, as it entails parties often located in different parts of the world making contracts with each other at the click of a mouse. The use of traditional litigation for disputes arising in this forum is often inconvenient, impractical, time-consuming and expensive due to the low value of the transactions and the physical distance between the parties. Thus modern legal systems face a crucial choice: either to adopt traditional dispute resolution methods that have served the legal systems well for hundreds of years or to find new methods which are better suited to a world not anchored in territorial borders.
Online Dispute Resolution (ODR), originally an off-shoot of Alternative Dispute Resolution (ADR), takes advantage of the speed and convenience of the Internet, becoming the best, and often the only option for enhancing consumer redress and strengthening their trust in e-commerce. This book provides an in-depth account of the potential of ODR for European consumers, offering a comprehensive and up to date analysis of the development of ODR. It considers the current expansion of ODR and evaluates the challenges posed in its growth. The book proposes the creation of legal standards to close the gap between the potential of ODR services and their actual use, arguing that ODR, if it is to realise its full potential in the resolution of e-commerce disputes and in the enforcement of consumer rights, must be grounded firmly on a European regulatory model.
The second edition of this book continues taking a ‘solutions to obstacles’ approach and analyses the main legal obstacles to the establishment of trust and confidence in undertaking business online. In comparing the legislative frameworks of e-commerce in the EU, US, China and International Organisations, the book sets out solutions to modernise and harmonise laws at the national, regional and international levels in response to current technological developments. It specifically provides information on the key legal challenges caused by the increasing popularity of service-oriented computing and cloud computing as well as the growing number of cross-border transactions and its relation to data privacy protection, Internet jurisdiction, choice of law and online dispute resolution. It considers how greater legal certainty can be achieved in cloud computing service contracts and other agreements resulted in service-oriented computing.
The second edition of Law of Electronic Commercial Transactions is a clear and up to date account of a fast-moving area of study. It will be of great value to legislators, politicians, practitioners, scholars, businesses, individuals, postgraduate and undergraduate students. It provides in-depth research into finding solutions to remove eight generic legal obstacles in electronic commercial transactions and offers insights into policy making, law reforms, regulatory developments and self-protection awareness.
Discussions included in this book:
- an introduction to smart contracts, and their potential, from a commercial and consumer law perspective, to change the nature of transactions between parties;
- the impact that Blockchain has already had on financial services, and the possible consumer risks and macro-economic issues that may arise in the future;
- the challenges that are facing global securities regulators with the development of Initial Coin Offerings and the ongoing risks that they pose to the investing public;
- the risk of significant privacy breaches due to the online public nature of Blockchain; and
- the future of Blockchain technology.
Of interest to academics, policy-makers, technology developers and legal practitioners, this book will provide a thorough examination of Blockchain technology in relation to the law from a comparative perspective with a focus on the United Kingdom, Canada and the United States.