Disruptive digital technologies as fundamental factors in the transformation of civil law in Ukraine

The concept of digital transformation is a key driver of modern law development, and should be a priority for all branches of law. Private law plays a central role in this regard, as it is responsible for establishing the legal framework necessary to regulate interactions with digital technologies and facilitate their effective implementation. This work aims to identify the directions for the development of Ukrainian civil law in the context of digital transformation. This article analyses the impact of digital transformation on traditional civil law institutions, using blockchain technology as one of the disruptive digital technologies of our time. An analysis of the genesis of blockchain technology allows us to distinguish new digital entities generated by it: digital assets, smart contracts, decentralised autonomous organisations (DAOs). Based on a synthesis of technological understanding, practical implications and civil law theory, the article explores approaches to the interpretation of the civil law nature of these categories. It also identifies their unique characteristics and considers the process of interaction with the established institutions of civil law of Ukraine. In addition, the article applies a comparative analysis of international regulations, guidelines, and recommendations existing in different legal orders aimed at regulating various areas of blockchain technology. It is concluded that this stage of development of civil law in Ukraine is characterised by an absence of legal certainty with regard to the concepts, classifications, legal regimes and legal statuses of these digital entities. This leads to an unclear civil law regulation of relations between entities interacting with them. Consequently, established civil law institutions such as 'objects of civil rights', 'objects of property rights', 'civil contract', 'participants to civil legal relations', and 'civil liability' are to some extent losing their expressiveness. This study contributes to a comprehensive overview and explanation of digital transformation. It aims to facilitate further legal discussions on the effective interaction of digital technologies and law and the overcoming of legal uncertainty to create a favourable environment for innovation.

digital assets, digital things, objects of civil rights, property rights, smart contracts, contract law, decentralised autonomous organisations, legal entities, civil law and blockchain