The Law of Property - The Concept of Property

Law commission paper is all about updating the law of property to reflect increasing use of these cryptocurrencies and non-fungible tokens. It's really important because property rights can be enforced against the whole world, whereas other types of rights such as contractual rights can only be enforced against somebody who's assumed a relevant duty. The central problem that the law commission is grappling with is that cryptocurrency NFTs don't really fit very neatly into either of those two categories. And their central thesis or the central proposal and the consultation paper is that we really need an entirely new category of property - data objects.