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A Lawful Framework for Distributed Electronic Markets

  • Michael Conrad
  • Christian Funk
  • Oliver Raabe
  • Oliver Waldhorst
Part of the IFIP — The International Federation for Information Processing book series (IFIPAICT, volume 243)

Abstract

While decentralized peer-to-peer market platforms are more suited for trading short-lived or non-material goods (e.g., electrical power, bandwidth-on-demand) due to reduced transaction cost, robustness and scalability, they lack the legal certainty provided by centralized electronic market places operated by a trusted third party. This paper presents a technical framework that, conforming to European regulations, provides legal certainty for distributed market platforms. The framework includes a market-consistent data model representing the facts for the legal subsumption process, maps the European framework for electronic signatures to a distributed system, and comprises solutions for both adducing the reception of electronic documents and their distributed long-time storage. Moreover, it includes an electronic legal adviser for an automatic verification of contracts.

Keywords

Electronic Market Legal Certainty Rule Engine Automatic Verification Contract Negotiation 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© IFIP International Federation for Information Processing 2007

Authors and Affiliations

  • Michael Conrad
    • 1
  • Christian Funk
    • 2
  • Oliver Raabe
    • 2
  • Oliver Waldhorst
    • 1
  1. 1.Institut für TelematikUniversität KarlsruheGermany
  2. 2.Institut für InformationsrechtUniversität KarlsruheGermany

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