Washington D.C., Nov. 3 - Participating in an e-commerce forum held by the U.S. Chamber of Commerce, Douglas Graham of KPMG LLP, the professional services firm, told attendees that the world needs a global commercial code to help solve the complexities of e-commerce regulations.
Graham told attendees that unless the borderless realities of the Internet are realized and addressed, "agile" nations could develop their own e-commerce strategies before industrialized nations could put simple worldwide governance in place. He emphasized that it is time to update the uniform commercial code from the days of Napoleon. "We need a fair, practical, fast tested code and one with integrity. The new global commercial code should be one that bonds participants and is overseen by trusted third parties," Graham said.
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