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The Venezuelan Constitution requires legislative approval for contracts in the national public interest. We have seen this pattern in Venezuela, Mozambique, Ukraine, Zambia, Liberia, PuertoRico, and in other sovereign and sub-sovereign borrowers. The deal went ahead anyway. Conclusion. They seem just as confused as we are.
Added to these phenomena is the rise of electronic commerce and online contracting platforms. Artificial intelligence, smart contracts, the blockchain, the Internet of Things (IoT), and the analysis of large volumes of data (big data) are demanding an exhaustive examination of the basic paradigms of law in general and the PIL in particular.
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