Resolving NFT and Smart Contract Disputes

in The Cambridge Handbook on the Law and Policy of NFTs (Cambridge 2023)

Ohio State Legal Studies Research Paper No. 717

21 Pages Posted: 18 Jul 2022

See all articles by Amy J. Schmitz

Amy J. Schmitz

Ohio State University (OSU) - Michael E. Moritz College of Law; Cyberjustice Lab

Date Written: July 14, 2022

Abstract

Non-Fungible Tokens (NFTs) built in the blockchain are quietly revolutionizing ideas around digital assets despite their questionable status under current law. Furthermore, the smart contracts that control many NFTs are disrupting the way deals are done. At the same time, disputes regarding NFTs and smart contracts are inevitable, and parties will need means for dealing with these highly technical issues. This chapter tackles this challenge and proposes that parties turn to online dispute resolution (“ODR”) to efficiently and fairly resolve NFT and smart contract disputes. Furthermore, the chapter acknowledges the benefits and challenges of current means for addressing blockchain issues and proposes ideas for how designers could address those challenges and incorporate ODR to provide efficient and fair resolutions.

Keywords: ODR, ADR, online dispute resolution, legal tech, legal technology, dispute resolution, blockchain, smart contracts, NFTs, metaverse

Suggested Citation

Schmitz, Amy J., Resolving NFT and Smart Contract Disputes (July 14, 2022). in The Cambridge Handbook on the Law and Policy of NFTs (Cambridge 2023), Ohio State Legal Studies Research Paper No. 717, Available at SSRN: https://ssrn.com/abstract=4162969 or http://dx.doi.org/10.2139/ssrn.4162969

Amy J. Schmitz (Contact Author)

Ohio State University (OSU) - Michael E. Moritz College of Law ( email )

55 West 12th Avenue
Columbus, OH 43210
United States

Cyberjustice Lab ( email )

Montreal
Canada

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