Full Description
This open access book presents the Unidroit Principles on Digital Assets and Private Law (DAPL) with comprehensive context and expert perspectives. The first part introduces the DAPL framework, its development, and future prospects, featuring contributions on its formation and influence. Key figures, including Professor Hideki Kanda and Professor Steven Weise, discuss major issues and highlights, followed by a Q&A with Professor Edwin Smith on integrating digital assets into the U.S. UCC. The "Right of Control" section includes practical exercises and explores its central role in DAPL's evolution, concluding with an application to verified carbon credits.
The following parts offer detailed reflections on each of the 19 Principles. Each reflection follows a consistent structure: the Principle's text, commentary, illustrative examples, and explanations, all grounded in official Unidroit documents. The book clarifies the rationale, aims, and drafting process behind each Principle, showing their relevance and alignment with international standards.
This resource is invaluable for lawmakers, judges, lawyers, entrepreneurs, and students seeking clear guidance on interpreting and applying the DAPL Principles to digital assets law.
Contents
Part I - Introductory Chapters.- Brief Overview of UNIDROIT Principles on Digital Assets and Private Law.- UNIDROIT Principles on Digital Assets and Private Law - A Comparison to the Uniform Commercial Code, with an Emphasis on Control, Transfer, Custody, Innocent Acquirers, and Secured Transactions.- The right of control over electronic negotiable documents and electronically documented rights and goods.- Definition and Holdership of Digital Assets after Two and a Half Decades of Evolution of the Notion of Control.- Verified Carbon Credits as Digital Assets.- Part II - Reflections on the Introduction to the UNIDROIT Principles.- Commentary on the Introduction to the Introduction to the UNIDROIT Principles on Digital Assets and Private Law.- Part III - Reflections on Section I: Scope and Definitions.- Principle 1. Scope.- Principle 2. Definitions.- Principle 3. General principles.- Principle 4. Linked Assets.- Part IV - Reflections on Section II: Private International Law.-Principle 5. Applicable Law.- Part V - Reflections on Section III: Control and Transfer.- Principle 6. Control.- Principle 7. Identification of a Person in Control of a Digital Asset.- Principle 8. Innocent Acquisition.- Principle 9. Rights of the Transferee.- Part VI - Reflections on Section IV: Custody.- Principle 10. Custody.- Principle 11. Duties Owed by a Custodian to its Client.- Principle 12. Innocent client.- Principle 13.Insolvency of a Custodian and Creditor Claims.- Part VII - Reflections on Section V: Secured Transactions.- Principle 14. Secured Transactions: General.- Principle 15. Control as a method of Achieving Third-Party Effectiveness.- Principle 16. Priority of security rights.- Principle 17. Enforcement of Security Rights.- Part VIII - Reflections on Section VI: Procedural Law Including Enforcement.- Principle 18. Procedural Law Including Enforcement.- Part IX - Reflections on Section VII: Insolvency.- Principle 19. Effect of Insolvency on Proprietary Rights in Digital Assets.
