Dispute Resolution in Smart Contracts According to Their Self-executing Feature

Document Type : Original Article

Authors

1 Department of Private Law, Faculty of Law and Political Science, Kharazmi University, Tehran, Iran

2 Department of Private Law, Faculty of Law, Kharazmi University, Tehran

Abstract

Despite the different definitions of smart contracts that have been expressed, there is still disagreement regarding their definition and legal nature. Therefore, it is necessary to define the actual legal meaning and nature of a smart contract. Moreover, due to the self-executing feature of these contracts, the study of dispute resolution in these contracts is necessary. In the current research, after reviewing the definitions of smart contracts and how to ensure the self-execution features of them in the blockchain platform, the possible ways to resolve disputes in these types of agreements have been discussed. In conclusion, based on the specific feathers of these agreements, Arbitration has been suggested as the best suitable dispute resolution, and JUR and Kleros have been mentioned as examples of electronic arbitration with a mechanism specific to the blockchain platform to resolve disputes arising from smart contracts. Moreover, examples of electronic arbitration with a compatible mechanism to the blockchain platforms that can be accessible at the international level were examined, and online, decentralized, and fair dispute resolution methods in blockchain systems were proposed.

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Legal Research Quarterly
Volume 27, Issue 3 - Serial Number 107
November 2024
Pages 219-236

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History

  • Receive Date: 21 August 2023
  • Revise Date: 26 November 2024
  • Accept Date: 02 June 2024

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