Singapore Journal of Legal Studies最新文献

The Concept of Money in the 4th Industrial Revolution—A Legal and Economic Analysis 第四次工业革命中的货币概念——法律与经济分析

Singapore Journal of Legal Studies Pub Date : 2020-02-17 DOI: 10.2139/ssrn.3534701

E. Avgouleas, Sir William Blair

{"title":"The Concept of Money in the 4th Industrial Revolution—A Legal and Economic Analysis","authors":"E. Avgouleas, Sir William Blair","doi":"10.2139/ssrn.3534701","DOIUrl":"https://doi.org/10.2139/ssrn.3534701","url":null,"abstract":"This article explores some of the changes that the 4th Industrial Revolution brings to our understanding of money. Our analysis does not suggest that the only valid form of money is that provided or backed by the state. We rather argue that it is unlikely that money-like means of payment will prove sustainable in the long-term if not perceived as being vested with some form of legality. Still, mere legality will not prove to be sufficient for the new payment instruments to qualify as money. They must also prove to be able to serve as means of exchange/payment. A sharp reduction in value will diminish the credibility of the payment promise and thus user confidence/trust. Like acceptance of payment on sight, the use of money as a common measure of value is one of the most important properties of fiat (and metallic) money. Retention of value in times of stress is fundamental as regards the new assets’ ability to act as a measure of value and its ability to fit with common perceptions of money. The requisite enquiry should be based on empirical studies of the intertemporal behaviour of the instrument. We suggest that fiat money aside, instruments that could eventually qualify as “money” ought to pass the dual test of legality and relative retention of value. This approach does not suggest a return to the metallic rule, which would limit free circulation of money. It is rather a pragmatic reformulation of the characteristics that means of payment, which do not enjoy the backing (will) of the state, must exhibit to enjoy quasi-money or money-like status. Assets that display high volatility are, thus, unlikely to fulfil the functions of “money” and should instead be dealt under the law of investments if they qualify as such.","PeriodicalId":38330,"journal":{"name":"Singapore Journal of Legal Studies","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-02-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49339456","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 4

Banking and Regulatory Responses to Fintech Revisited—Building the Sustainable Financial Service ‘Ecosystems’ of Tomorrow 银行业和监管机构对金融科技的回应——构建未来可持续的金融服务“生态系统”

Singapore Journal of Legal Studies Pub Date : 2019-09-01 DOI: 10.2139/ssrn.3446273

M. Fenwick, E. Vermeulen

{"title":"Banking and Regulatory Responses to Fintech Revisited—Building the Sustainable Financial Service ‘Ecosystems’ of Tomorrow","authors":"M. Fenwick, E. Vermeulen","doi":"10.2139/ssrn.3446273","DOIUrl":"https://doi.org/10.2139/ssrn.3446273","url":null,"abstract":"Over the last decade, FinTech – broadly defined as the use of new technologies to compete in the marketplace of financial institutions and intermediaries – has disrupted the financial services sector. In this paper, we revisit the question of how banks and regulators should respond. \u0000 \u0000We argue that incumbent financial service providers can learn useful lessons from the experience of the most innovative companies and their efforts to navigate the new realities of doing business in a networked age. One of the striking features of successful large businesses with an established track record for sustained innovation has been their capacity to implement effective corporate venturing strategies that continually feed dynamic, technology-driven innovation (“borrowing the startup genie’s magic”). Here, we identify seven corporate venturing strategies adopted by the most innovative companies and argue that incumbent banks could utilize similar strategies in responding to FinTech. A crucial element of these strategies is a recognition of the value of “co-creation,” namely an inclusive, collaborative partnering between incumbents and non-traditional players. To implement this objective, incumbents need to become open “ecosystems” that absorb the skills and resources of the most dynamic startups. We argue that some banks are already moving in this direction and that this trend towards “unbundling” will likely continue. \u0000 \u0000The paper ends with a discussion of the implications of such an account for regulators and regulatory design. In order to establish an effective ecosystem, regulators need to become active participants in these new ecosystems. We characterize this approach as “community-driven” regulatory design and identify some key features of such an approach.","PeriodicalId":38330,"journal":{"name":"Singapore Journal of Legal Studies","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45481226","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 10

NUS Law in the Noughties: Becoming ‘Asia’s Global Law School’ 新世纪新加坡国立大学法学院：成为“亚洲全球法学院”

Singapore Journal of Legal Studies Pub Date : 2017-08-03 DOI: 10.2139/SSRN.3012931

C. Tan

引用次数: 2

Contract as assumption II: Formation, performance and enforcement [Book Review] 作为假设二的合同:形成、履行和执行[书评]

Singapore Journal of Legal Studies Pub Date : 2016-09-01 DOI: 10.5040/9781782256717

S. Booysen

引用次数: 0

Between Judicial Oligarchy and Parliamentary Supremacy: Understanding the Court's Dilemma in Constitutional Judicial Review 在司法寡头与议会至上之间:宪法司法审查中法院困境的解读

Singapore Journal of Legal Studies Pub Date : 2016-01-01 DOI: 10.2139/SSRN.2780732

Seow Hon Tan

引用次数: 0

Regulating digital financial services agents in developing countries to promote financial inclusion 规范发展中国家的数字金融服务机构，促进普惠金融

Singapore Journal of Legal Studies Pub Date : 2015-01-01 DOI: 10.2139/SSRN.2973806

Evan C. Gibson, Federico Lupo-Pasini, Ross P. Buckley

引用次数: 13

After Privacy: The Rise of Facebook, the Fall of WikiLeaks, and Singapore's Personal Data Protection Act 2012 隐私之后:Facebook的崛起，维基解密的衰落，以及新加坡2012年的个人数据保护法

Singapore Journal of Legal Studies Pub Date : 2013-03-14 DOI: 10.2139/SSRN.2042144

S. Chesterman

引用次数: 9

Intestacy Law In Australia, England and Singapore - Another Aid to Social Sustainability in an Ageing Population? 澳大利亚、英国和新加坡的“无遗嘱法”——人口老龄化对社会可持续性的又一帮助?

Singapore Journal of Legal Studies Pub Date : 2012-12-31 DOI: 10.2139/SSRN.2255245

Fiona R. Burns

{"title":"Intestacy Law In Australia, England and Singapore - Another Aid to Social Sustainability in an Ageing Population?","authors":"Fiona R. Burns","doi":"10.2139/SSRN.2255245","DOIUrl":"https://doi.org/10.2139/SSRN.2255245","url":null,"abstract":"Intestacy law is an important area of property and succession law because some people do not make valid wills. The values and expectations of a society will generally influence the framing of intestacy rules. The intestacy schemes presently operating in Australia, England and Singapore are no exception. This article describes how the law in each of these jurisdictions has changed since the 19th century. It compares and contrasts the major elements of the intestacy schemes in Australia, England and Singapore. It is argued that in Australia and England an important priority is the protection of the economic well-being of the surviving spouse (broadly defined). In recent decades, law reformers in both jurisdictions have articulated an emerging priority for intestacy law: the enhancement of the economic well-being of the aged surviving spouse. Singapore’s statutory intestacy regime has remained stable since its implementation in 1967. It evidences the concern that not only the spouse, but also that in certain circumstances, lineal descendants and ascendants ought to inherit from the intestate. Therefore, the concept of immediate family not only includes the spouse, but the issue and parents of the intestate.","PeriodicalId":38330,"journal":{"name":"Singapore Journal of Legal Studies","volume":"1 1","pages":"366"},"PeriodicalIF":0.0,"publicationDate":"2012-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68034274","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 5

A Leap of Good Faith in Singapore Contract Law 新加坡合同法中的诚信飞跃

Singapore Journal of Legal Studies Pub Date : 2012-12-31 DOI: 10.2139/SSRN.2255275

Colin Liew

引用次数: 2

Between Apology and Apogee, Autochthony: The ‘Rule of Law’ Beyond the Rules of Law in Singapore 在道歉与远航之间:新加坡法治之外的“法治”

Singapore Journal of Legal Studies Pub Date : 2012-12-31 DOI: 10.2139/SSRN.2255266

L. Thio

引用次数: 30