Focusing on four key aspects of Web3, the book explores metaverses, data governance, public and private law interfaces, and access to justice, presenting new research on the impact of data analytics on transactions within law, on regulatory activities and on the practice of law.
AI and data analytics have played a key role in the development of Web3, transforming the governance of existing digital platforms and enabling the formation of new platforms. Web3 is increasingly used for commercial and social interactions and is predicted to be the future of the internet. As a blockchain-based web, Web3 provides a platform for cryptocurrencies, NFTs, decentralized autonomous organisations, and decentralized finance. Web3 users can read, write, and even own their own version of the web which has transformed the space for commerce and social interaction, but brings inherent risks. This book identifies the principles in law and policy which can be used as the basis for the development of Web3 activities and their regulation with a focus on security, scalability, and sustainability. Though digital platforms and underlying technologies have reshaped our daily lives and business practices, they have also caused numerous legal problems. The book considers the interaction of data analytics with well-established fields of study such as financial law, tax law, intellectual property, data protection, private international law and internet law.
Addressing the current knowledge gap in the legal literature on Web3 including blockchain, AI and data governance in commercial and social activities, it develops new baseline frameworks which will form the foundation for new research into data governance, FinTech and RegTech, as well as social and market infrastructure and will be essential reading for scholars in law, business studies, economics, public administration and regulation.