The Code as an Element of Trust in Smart Contract Arbitration Clauses

Abstract

This paper addresses the growing intersection between blockchain technology, specifically through the use of Smart Contracts (SC), and international arbitration as a mechanism for resolving contractual disputes. In the context of a rapidly evolving digital era, this paper proposes the standardization of the code used to trigger arbitration clauses in Smart Contracts, with the aim of fostering legal certainty and trust in these automated processes. This research is based on an in-depth documentary analysis, examining academic sources and online dispute resolution platforms, to identify and synthesize best practices in the codification of such clauses. Through this exploration, the complexity inherent in translating legal agreements into computer code is revealed, addressing the need for tools that enable users to design and implement arbitration clauses with technical precision and legal validity. This article suggests that, while Smart Contracts offer a promising avenue towards efficiency and transparency in commercial and legal transactions, their full integration into the international arbitration arena requires a standardized framework to ensure legal consistency and accessibility for non-programmers.