Kostyan O.A. Problems and Prospects of Unification of the Concepts of “Tokens”, “Digital Assets” and “Digital Rights”
DOI: https://doi.org/10.15688/lc.jvolsu.2024.1.7
Oksana A. Kostyan, Postgraduate Student, Department of Civil Law Disciplines, Plekhanov Russian University of Economics, Stremyanny Lane, 36, 117997 Moscow, Russian Federation, This email address is being protected from spambots. You need JavaScript enabled to view it. , https://orcid.org/0000-0002-6529-0200
Introduction: the accelerated digital transformation of the economy leads to a lack of unity in understanding the essence of new digital objects and a lag in the legal regulation from the pace of digitalization. As a result, when characterizing new digital objects, there arise terminological inaccuracies, discussions regarding the expediency and correctness of legislative innovations, and the gaps in the legal regulation of digital objects of legal relations. As a result, the purpose of the current study is to define the essence and delineate the concepts of “token”, “digital assets” and “digital rights”. To achieve this goal, the following tasks are defined: to study the definitions of the above-mentioned concepts available in the legal doctrine, their role in the civil legislation, to develop a systematic understanding of the digital objects selected for research. Methods: the methodological framework for the study is a set of methods: the terminological analysis of individual digital objects – tokens, digital assets and digital rights; the generalization of the studied materials by induction to determine the subordination of the described digital objects; the generalization and comparison of doctrinal concepts on the relationship between the concepts of “digital assets” and “digital rights”. Based on the conducted research, the following results are achieved: the doctrinal differences are revealed in the understanding of the term “token”, in the correctness of the identification of “digital rights” as an object of civil rights, in the correlation of the concepts of “token”, “digital asset” and “digital rights”; the classification of digital assets is of scientific interest in the framework of further research. According to the results of the scientific research, the author has made a number of conclusions, in particular: 1) the lack of unity in the definitions of new digital terms generates discussions regarding the current norms of the Russian legislation and hinders the introduction of promising digital structures into civil circulation; 2) in order to unify digital terminology, the following changes to the Russian legislation are proposed: digital assets should be distinguished as a separate category of objects of civil rights; digital rights should be defined as a kind of digital asset expressed in monetary form; a token should be defined as a means of balance sheet accounting of a digital asset and the authentication of users of an information system.
Key words: tokens, digital assets, digital rights, information system, scientific doctrine, correlation of terms, terminological diversity.
Citation. Kostyan O.A. Problems and Prospects of Unification of the Concepts of “Tokens”, “Digital Assets” and “Digital Rights”. Legal Concept = Pravovaya paradigma, 2024, vol. 23, no. 1, pp. 58-64. (in Russian). DOI: https://doi.org/10.15688/lc.jvolsu.2024.1.7
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