An introduction to blockchain-based dispute resolution: the emergence of new procedural designs

The recent rapid growth of the cryptocurrency and cryptoasset markets utilsing blockchain technology is generating a growing number of related disputes. These disputes may be resolved through state court litigation, through conventional arbitration, or through blockchain-based arbitration. The focus of this article is on this last form of dispute resolution, analysing what blockchain-based arbitration or dispute resolution is by examining the procedural design of blockchain-based dispute resolution, analysing the reasons behind the design of this type of dispute resolution, and exploring the extent to which blockchain-based dispute resolution has been applied in practice and legally recognised by national courts. Finally, it considers the impact of the procedural design of this mechanism on traditional arbitration.