Smart contracts, where some or all of the contractual obligations are defined in and/or performed automatically by a computer program, are expected to have a significant impact on the way business is done. Whilst already being deployed for relatively straightforward transactions, such as facilitating transfers on cryptocurrency exchanges, with the technology underpinning smart contracts becoming
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Technology Projects: Managing the Risks of Innovation and Change Part 3: Contract Reset and Dispute Resolution
Customers in long-term technology projects can find that while they have been working towards their chosen solution a more advanced, cheaper, or simply more desirable technology has become available. The benefits of switching solutions may be very significant, but exiting an existing agreement can be costly and complex, both legally and commercially. Since delays in…
Cybersecurity: Council adopts its position on the NIS2 Directive
On 3 December, the Council agreed on its position on the proposal for a Directive on measures for high common level of cybersecurity across the Union (the “NIS2 Directive”). This follows the adoption of the Report on NIS2 by the European Parliament’s Committee on Industry, Research and Energy on 28 October 2021 (please see our…
The EU’s Digital Services Package a global benchmark – a closer look at the Digital Markets Act.
On 15 December 2020, the European Commission published proposals for two regulations to regulate digital services, the Digital Services Act and the Digital Markets Act. According to the Commission’s press release, the two proposals are a central part of the Europe’s digital decade agenda. In this contribution the authors discuss the Digital Markets Act that…
Peculiarities of DPIAs for AI system development and enhancement
Artificial Intelligence (“AI”) is seen as a key emerging technology that the European Parliament in its Draft Report on AI in the digital age (issued in November 2021) recently labelled as the fifth element after air, earth, water and fire. AI is expected to contribute more than EUR 11 billion to the global economy, which…
Digital dispute resolution rules to facilitate rapid and cost-effective resolution of disputes involving novel digital technologies
While some saw the development of products using blockchain technology leading to the demise of disputes, the reality is that disputes in the arena of digital technology are increasing in number. Lawtech’s UK Jurisdiction Taskforce (UKJT) has recognised that these disputes require a flexible and efficient means of resolution. The UKJT has published its Digital…
Technology Projects: Managing the Risks of Innovation and Change Part 2: During the Life of the Project
Customers in long-term technology projects can find that while they have been working towards their chosen solution a more advanced, cheaper, or simply more desirable technology has become available. The benefits of switching solutions may be very significant, but exiting an existing agreement can be costly and complex, both legally and commercially. Since delays in…
The UK as a global AI superpower
On 22 September 2021, during the third day of London Tech Week, the UK Department for Digital, Culture, Media & Sport published its first National AI Strategy, detailing its 10-year plan to position the UK as a global leader in the governance of Artificial Intelligence (‘AI’) technologies by boosting business use of AI, attracting…
Member States reach a common position on data governance
A first initiative in the EU data strategy to capture the enormous potential of ‘Big Data’ appears to be nearing completion. On 1 October, EU Member States agreed on a common position with respect to the proposal for a Data Governance Act (DGA).
To recall, the aim of the proposed Act is to set up…