Arbitration of Disputes Related to Smart Contracts

Abstract

Nowadays, the use of smart contracts has become widespread in various commercial fields. However, these contracts may also be the subject of many disputes, which must be resolved in a way that is more compatible with the nature of this contract and should be adopted. This article suggests arbitration as a suitable method to resolve these disputes. This present article has been done in an analytical-descriptive way and based on library sources, and it deals with the analysis of different aspects of the use of arbitration in the resolution of smart contract disputes and the challenges facing it. Studies show that what is needed is a fast, cheap, transparent and reliable arbitration structure system that has decentralised jurisdiction in the entire blockchain and provides the final judgment. It seems that using the arbitration method to resolve smart contract disputes will bring speed, trust, transparency, low cost and quick implementation without relying on the government or any intermediaries.

Keywords

• blockchain
• smart contracts
• dispute arbitration
• smart arbitration main subjects