Blockchain and Smart Contract for Contract Management (Dispute Prevention and Generation)
2018/SOM1/EC/WKSP2/005 , Paper presented at the APEC (Asia-Pacific Economic Cooperation) Workshop on the Use of Modern Technology for Dispute Resolution and Electronic Agreement Management Particularly Online Dispute Resolution (Port
12 Pages Posted: 28 Apr 2020
Date Written: March 4, 2018
Abstract
After comparing and contrasting smart contracts with computer codes running in a central server, this paper notes that "smart contracts" are not contracts in the legal sense and considers their implications for contract management and dispute prevention. It alerts that the features of smart contracts are prone to generate disputes which often involve novel legal issues. The paper concludes with a brief comment on the potential use of smart contracts in dispute resolution.
Keywords: smart contract, dispute resolution
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