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Full-Text Articles in Law
Decentralized Dispute Resolution: Using Blockchain Technology And Smart Contracts In Arbitration, Christoph Salger
Decentralized Dispute Resolution: Using Blockchain Technology And Smart Contracts In Arbitration, Christoph Salger
Pepperdine Dispute Resolution Law Journal
Can blockchain technology and smart contracts be used in the context of alternative dispute resolution, particularly arbitration, turning traditional procedures on their head? This article discusses various possible applications of blockchain technology and smart contracts in ADR. In particular, it addresses the possibility of fully automated execution of arbitral awards using a smart contract through so-called escrow mechanisms. Subsequently, it presents two promising approaches of so-called Decentralized Dispute Resolution (DDR), including Expert-Pooling and Crowdarbitration. DDR generally involves decisions made jointly by multiple or even all participants in a network (usually a blockchain network), rather than by just one or two …
Contracting In The Age Of Smart Contracts, Farshad Ghodoosi
Contracting In The Age Of Smart Contracts, Farshad Ghodoosi
Washington Law Review
Smart contracts lie at the heart of blockchain technology. There are two principal problems, however, with existing smart contracts: first, the enforceability of smart contracts remains ambiguous. Second, smart contracts are limited in scope and capability barring more complex contracts from being executed via blockchain technology. Drawing from the existing literature on contracts and smart contracting, this Article suggests new approaches to address these two problems. First, it proposes a framework based on reliance-based contracting to analyze smart contracts. Second, the Article analyzes the seismic shifts in contractual disputes, and offers new insights into its features including decentralized decision-making, network-based …
Smart Contracts And The Illusion Of Automated Enforcement, Danielle D'Onfro
Smart Contracts And The Illusion Of Automated Enforcement, Danielle D'Onfro
Scholarship@WashULaw
This symposium essay explores the barriers to deploying smart contracts in the consumer finance space: the humans themselves, existing consumer protection laws, and the other businesses who have financial contracts with consumers but that cannot deploy smart contracts. These three barriers render perfectly automated enforcement all but impossible. Nevertheless, there may be room for modifiable smart contracts in the consumer financial space although these contracts may be only marginally more efficient than traditional contracts.
Smart Contracts And Consumers, Tatiana Cutts
Smart Contracts And Consumers, Tatiana Cutts
West Virginia Law Review
“Smart contracts” are a way of using computers to make contracts unbreakable. Contracting parties do not need to trust one another to perform or rely upon intermediaries to enforce performance. Performance is guaranteed. This is supposed to be a victory for the ordinary person—a clever socio-economic application of cryptography that strips power from companies and governments and gives it to consumers. But it turns out that less trust does not mean more freedom, or better bargains. The law of contract supports valuable relationships both by enforcing duties and by allowing parties to escape the consequences of ill-formed contracts and oppressive …
Curb Your Enthusiasm: The Real Implications Of Blockchain In The Legal Industry, Justin Evans
Curb Your Enthusiasm: The Real Implications Of Blockchain In The Legal Industry, Justin Evans
The Journal of Business, Entrepreneurship & the Law
No abstract provided.