Smart Legal Contracts & Smarter Dispute Resolution

Abstract

Availability, and efficiency of dispute resolution mechanisms are sine qua non for a healthy and prosperous environment. Regarding the technical difficulties and challenges, however, traditional judiciary mechanisms may not be effective for blockchain-related disputes. In this manner, judicialization of blockchain becomes highly inevitable, especially regarding the vision of creating a “self-sufficient system.” In this context, decentralized dispute resolution platforms have occurred and started to provide solutions to blockchain-based disputes. Yet, they are still far from being perfect and should be improved by legal standards and frameworks, as well as employing technical tools. This paper focuses on on-chain dispute resolution mechanisms for blockchain-related disputes, particularly those derived from smart legal contracts.