Smart Contracts May Yield Unique Solutions In Arbitration
Law360 (May 8, 2018, 9:17 PM EDT) -- Although including an international arbitration clause in a smart contract is likely a no-brainer for many disputes attorneys, experts say it's important for parties to a smart contract to be aware of the problems — and potentially revolutionary solutions — that may arise through the use of such clauses.
Smart contracts are self-executing, self-enforcing agreements that are becoming increasingly common, particularly in international transactions. Including an international arbitration clause in such a contract makes sense for the same reasons these clauses remain popular with multinational businesses: arbitral awards are enforced relatively easily across borders, and parties have the flexibility to craft...
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