Abstract: Data possesses collateral capacity due to its property attributes, but the subject of data collateral is data property rights. Under current law, the systemic positioning of data collateral should be classified as a novel type of security interest. Data collateral acquires real-right effectiveness once creditors control the data or register it with local data registration authorities. From a legislative perspective, data security rights should fall under rights pledge, but specific rules must fully account for transactional parties’ expectations of interests and avoid constraints from traditional pledge doctrines. A registration confrontation doctrine should govern data security rights, eliminating the need for valuation of data property rights during establishment. Rules for data security rights, including registration opposability, priority order, and external transfers, may reference those for chattel mortgages. Unless otherwise agreed, guarantors should retain the right to exercise and dispose of data property rights, while security holders should be granted priority compensation mechanisms for proceeds such as license fees. The realization of data security rights heavily depends on the maturity of data transaction markets. Licensing agreements should serve as a primary method for enforcing data security rights, with future integration of smart contract technology to facilitate implementation.

Key words: “Twenty Articles of Data”, data rights confirmation, data guarantee, property guarantee, new types of guarantee