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Smart contracts in consumer law: Does New Zealand need to wise up?

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dc.contributor.author Ingle, Laurence
dc.date.accessioned 2019-12-02T02:11:51Z
dc.date.accessioned 2022-07-12T02:34:14Z
dc.date.available 2019-12-02T02:11:51Z
dc.date.available 2022-07-12T02:34:14Z
dc.date.copyright 2018
dc.date.issued 2018
dc.identifier.uri https://ir.wgtn.ac.nz/handle/123456789/21003
dc.description.abstract Blockchain-based smart contracts represent a shift towards an automated world. While their immutable and self-executing nature present numerous economic benefits, these characteristics give rise to issues. One of these issues is that the burden of issuing proceedings changes from a party looking to enforce the agreement to a party who wishes to relieve themselves of an automatic enforcement mechanism. The ‘practical burden’, as the paper terms it, could potentially be most problematic in a consumer context, which is characterised by a significant imbalance between contracting parties. The paper assesses consumer law in New Zealand to determine whether this issue will arise under the current law. The paper concludes that New Zealand’s current consumer law is practically robust, however it recommends some practical measures that can be taken by the Commerce Commission in order to prepare for smart contracts as a dominant method of transferring property. en_NZ
dc.format pdf en_NZ
dc.language en_NZ
dc.language.iso en_NZ
dc.publisher Te Herenga Waka—Victoria University of Wellington en_NZ
dc.subject Blockchain en_NZ
dc.subject Smart contract en_NZ
dc.subject Consumer law en_NZ
dc.subject Consumer lending. en_NZ
dc.title Smart contracts in consumer law: Does New Zealand need to wise up? en_NZ
dc.type Text en_NZ
vuwschema.contributor.unit Victoria Law School en_NZ
vuwschema.contributor.unit Faculty of Law / Te Kauhanganui Tātai Ture en_NZ
vuwschema.subject.anzsrcfor 080403 Data Structures en_NZ
vuwschema.subject.anzsrcfor 080505 Web Technologies (excl. Web Search) en_NZ
vuwschema.subject.anzsrcfor 100504 Data Communications en_NZ
vuwschema.subject.anzsrcfor 180105 Commercial and Contract Law en_NZ
vuwschema.subject.anzsrcfor 180109 Corporations and Associations Law en_NZ
vuwschema.subject.anzsrcfor 189999 Law and Legal Studies not elsewhere classified en_NZ
vuwschema.subject.anzsrcseo 970118 Expanding Knowledge in Law and Legal Studies en_NZ
vuwschema.type.vuw Research Paper or Project en_NZ
thesis.degree.discipline Law en_NZ
vuwschema.subject.anzsrcforV2 489999 Other law and legal studies not elsewhere classified en_NZ
vuwschema.contributor.school School of Law en_NZ

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