Means of delivery Table 2: Potentially applicable bodies of international economic law; adapted from Joel P. Trachtman ‘International Economic Law in the Cyber Arena’. Potentially Applicable Bodies of International Economic Law Trade in Government Trade in Foreign Intellectual Goods Law Procurement Services Investment Property Law Law Law Law Inapplicable Applicable Applicable Inapplicable Possibly Network applicable Applicable Inapplicable Inapplicable Inapplicable Movement of Applicable equipment Inapplicable Applicable Applicable Applicable Possibly Human applicable activity in situ Many national cyberlaws have been influenced by the legislative standards prepared by the United Nations Commission on International Trade Law (UNCITRAL). Its Model Law on Electronic Commerce (1996) has been enacted in more than 60 jurisdictions. Twenty-nine jurisdictions have based their legislation on the UNCITRAL's Model Law on Electronic Signature (2001). Meanwhile, the United Nations Convention on the Use of Electronic Communications in International Contracts (ECC, 2005) has been signed by 18 States and acceded to or ratified by six. Work is furthermore ongoing in both the OECD and the United Nations to update their guidelines on consumer protection, including with a view to better reflect e-commerce. Possible gaps in dealing with e-commerce The analysis of existing mechanisms indicates a shift of policy dynamism from global level (WTO) to regional level with many regional trade agreements also addressing electronic commerce. With regard to the adoption of e-commerce laws at national level, there are still significant gaps in the extent to which key issues are addressed in different countries. Thus, diverse regional and national regulatory responses have started creating a global compatibility gap as far as legislation in the e-commerce field is concerned.14 6.2 E-money and virtual currencies E-money is defined by the Bank for International Settlements (BIS) as ‘stored value or prepaid payment mechanisms for executing payments via point-of-sale terminals, direct transfers between two devices, or over open computer networks such as the Internet’. Emoney is usually associated with so-called smart cards issued by companies such as Mondex 14 See UNCTAD (forthcoming), Information Economy Report 2015: Unlocking the Potential of E-Commerce for Developing Countries (New York and Geneva: United Nations). 35