Valuable aspects of digital boons as objects of civil rights of a person

Abstract

This paper reflects the results of studying the legal nature of digital things and virtual assets as objects of civil rights/ legal relations through the prism of their value component. The aim of the study is to determine the factors (specifically, properties together with characteristics of digital things) that impact the value of these phenomena, thus, enabling their probability to be objects of civil rights/legal relations.

The methodological basis of scientific research constitutes the dialectical method of cognition, the application of which made it possible to analyze modern and historical approaches to defining institutions of a digital thing as well as a virtual asset, their legal nature and features. The formal-logical method has been used in order to analyze the norms of legislation that form the legal basis for comprehensive regulation of relevant relations. The method of analysis and synthesis has been applied while studying the practical manifestation of relations to ensure the turnover of digital things along with virtual assets. The comparative-legal method has been used for a comparative analysis of the legal regulation of institutions of digital things together with virtual assets in the latest legislation of the European Union and Ukraine. The logical-legal method has been applied so as to formulate the main conclusions in accordance with the aim of the specified study.

The result of the study has been the determination of relevant properties of digital assets as well as virtual ones, which define the value component of the above objects. It has been concluded that neither value nor functionality significantly affect the value of the mentioned phenomena. Specific features along with properties inherent only to these objects come to the fore, to illustrate, adaptability, security of transactions, decentralization, pseudonymity, in addition to availability. Regardless of the fact that the specified properties are basic for comprehanding the nature of digital things and virtual assets, they are subject to significant external influence. In particular, the importance of decentralization together with pseudonymity is levelled due to the rapid and powerful development of legal regulation, aimed at a fairly high level of restrictions as well as regulations. At the same time, the prevalence of the turnover of the above mentioned objects is unlikely to slow down due to exceptional advantages, ensuring a significantly more prompt and accessible satisfaction of market participants’ relevant needs.