Legal Aspects of Decentralized and Platform-Driven Economies

TL;DR

This paper discusses the legal challenges and implications of the rapid growth of platform-driven and decentralized economies, emphasizing the need for adaptable regulatory frameworks to address emerging technologies like AI and blockchain.

Contribution

It provides an analysis of legal issues related to disruptive digital platforms, decentralized technologies, and AI, proposing the development of more flexible regulatory structures.

Findings

Legal frameworks are lagging behind technological innovations.

Decentralized and platform-driven models challenge traditional legal liability.

Flexible regulation is essential for adapting to technological disruptions.

Abstract

The sharing economy is sprawling across almost every sector and activity around the world. About a decade ago, there were only a handful of platform driven companies operating on the market. Zipcar, BlaBlaCar and Couchsurfing among them. Then Airbnb and Uber revolutionized the transportation and hospitality industries with a presence in virtually every major city. Access over ownership is the paradigm shift from the traditional business model that grants individuals the use of products or services without the necessity of buying them. Digital platforms, data and algorithm-driven companies as well as decentralized blockchain technologies have tremendous potential. But they are also changing the rules of the game. One of such technologies challenging the legal system are AI systems that will also reshape the current legal framework concerning the liability of operators, users and manufacturers. Therefore, this introductory chapter deals with explaining and describing the legal issues of some of these disruptive technologies. The chapter argues for a more forward-thinking and flexible regulatory structure.