Institute of World Economy and International Relations of the Russian Academy of Sciences (IMEMO) issues a book in 2011 with long term strategic global forecast till 2030. It was said there that:
“… for the next 20 years (until 2030), the dominant global trend will be the strengthening of planetary interdependence, as well as deepening the ideological understanding of this phenomenon… By 2030, the prevailing ideology will be the ideology of globalization, compromise thinking and integration motivation. Its essence is that world development is taking shape in the direction of creating a “one world”, spreading compromise thinking based on the law, globalization of security and development problems”.
It is my deep understanding that a natural consequence of the strengthening of such planetary interdependence is the integration of legal systems, which is now being implemented on a territorial basis — European law, for example. In the context of globalization, this trend will intensify and its practical consequence will inevitably be — the standardization of national legislations. It is here worth mentioning that globalization trend seemed indestructible — back in 2011. But now, due to some well-known international political events in this decade we can say that globalization slowed down a bit. Nevertheless, I suppose that it hasn’t reversed — due to blockchain, due to emergence of truly single planetary market with no borders.
Currently, at the international level, sectors of maximum intersection of interests of participants in civil (or, more correctly to say, inter-civil or private international) turnover are singled out. Due to the fact that such participants are carriers of different legal minds and cultures, a collision of legal systems becomes inevitable, having as a result either the expansion of one legal system into the “native” territory of another, or the formulation of new principles based on consensus. Both trends interpenetrate each other, transforming national systems, and contribute to the evolution of international law into a single world law!
In the context of global legal integration, I suppose we can’t talk about the disappearance of national legal systems at the initial stage. The formation of a multi-level structure of a unified planetary legal system with strict rules of mutual subordination of lower levels to general supranational rules of higher levels seems to be more realistic — the more so, since we’ve seen this throughout the history. Thus, at the regional level, the legal system will be limited and its development will be subject to the trends of higher levels.
It is my understanding that such unified supranational rules should regulate the “technical” issues of the life of the whole system, namely: corporate and financial law.
We, as a planetary community, need to understand who and how transfers value. And blockchain gives us basic transportation layer of a big and complicated programmable economy stack.
Further details in this video:
Ex machina
