About
Proposal for a Reliable Legal Framework for
Evolving Technologies such as DLT, AI, and Quantum Computing
The Universal Digital Evolution Charter(UDEC) represents a proactive approach to providing developers and users of the rapidly evolving three most important Web3-technologies, namely DLT, AI, and Quantum Computing, with critical legal roadmaps to navigate the fundamentally changing business landscape. The purpose of the UDEC is to outline the minimum legal requirements that Web3-projects (and/or the Metaverses) must meet to enable users for their services to conduct legally valid and compliant digital transactions. This is a crucial prerequisite to assess the operational risk of any Web3-business.
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Since Web3 merges the legacy/physical world with the digital world in such a way that a person experiences seamless and interchangeable rules regardless of where he/she transacts. By providing such a structured Web3 legal framework, UDEC aims to ensure the widest possible extension of existing national (including international) laws for the legacy/physical world to digital transactions in Web3. This leads to fair outcomes, mitigate risks, and instills confidence in legal-based transactions within Web3. This initiative sets the stage for future technological advancements, where UDEC will provide the core requirements for a UDEC as a legal framework that ensures that applicable laws provide the legal certainty essential for building new markets using the benefits in these emerging technologies.
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Since UDEC is designed to merge the physical and digital worlds, it establishes seamless and interchangeable transaction rules. By outlining minimum legal requirements, UDEC enables projects operating in these cutting-edge domains to conduct legally valid and compliant digital transactions. This comprehensive UDEC legal framework addresses essential elements and regulatory challenges, facilitating the integration of evolving technologies and fostering a stable environment for innovation and growth. UDEC will contain the legal frameworks that emerge from the various legal systems, ensuring that Web3 projects have the greatest possible security that their transactions are legally valid, compliant and enforceable, as users can rely on, and trust established and familiar rules of national laws based on known traditional rules and concepts.
01
Relationship to National Laws
Determine the rules governing jurisdiction and the applicable law on digital transactions within the scope of the UDEC Charter.
02
Digital Identity
Establishing the framework for secure and verifiable digital identifiers to ensure trust and authenticity in digital interactions, enabling the associated identities to become the bearers of rights and obligations.
03
Digital Ownership
Defining and protecting the requirements for digital property rights to establish and maintain integrity, security, and transferability of digital assets, which enables to commercialize the value of data and information.
04
Contract Settlement
Ensuring that all contractual obligations are met within a single transaction, preserving the integrity of the transaction, ensuring legal and compliant contracts, and enabling their enforcement in both the physical and digital worlds.
05
Privacy and Data Protection
Establishing stringent privacy and data protection standards to safeguard personal and sensitive information.
06
Compliance
Defining the requirements to comply with mandatory rules, such as financial market, KYC, corporate or export compliance regulations, ensuring that all activities within the ecosystem are legally sound.
07
Dispute Resolution
Providing the legal requirements to establish mechanisms for alternative dispute resolution (ADR), arbitration, and national jurisdiction to handle conflicts efficiently and fairly.
08
DLT, AI, and Quantum Technology Integration
Establishing guidelines for the use of these technologies to establish above-listed core elements within the applicable legal frameworks.
Private Academic Workforce
UDEC is a private academic initiative that seeks to bring together leading academics and practitioners from around the world. This initiative aims to represent major B2B jurisdictions, including the USA, China, Japan, the EU (with key jurisdictions such as Germany and France), Switzerland, Singapore, Hong Kong, and the UAE. UDEC shall serve as a reference point for activities related to Web3, in particular, based on DLT, AI, and quantum computing. It will integrate the latest developments in law at international (such as the UNIDROIT Principles on Digital As-sets and Private Law or the UNCITRAL Model Law on Electronic Transferable Records) and on national levels.
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Based on a draft of a selected initial group of experts, we aim to further collaboratively develop UDEC as a guideline for enterprises, app developers, international organizations, and national legislators. The founders will hand over the UDEC to a Swiss association, which will be responsible for this further development of the UDEC. This allows developing the first drafts much faster and focusing on the core issues.
Integrating UDEC into national legislation will enable the enforcement of jurisdiction-specific policies, such as consumer protection, insured persons’ rights, and investor protection, eliminating the need for further policy discussions within the group.
Codex and Commentary
UDEC is written as a codex with articles and chapters. All articles are supplemented by an explanatory commentary, which will also have an introductory chapter explaining the purpose, target audience, and how this project will be developed.
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The initial drafting committee will submit the draft code and commentary to the UDEC association.