In a ground-breaking move, the UK has introduced new
arbitration rules designed to resolve commercial disputes involving
novel technologies like smart contracts, cryptoassets and
distributed ledger technology. In this piece, we discuss some of
the cutting edge features of the new rules and the importance of a
dispute resolution mechanism for digital
technologies.
In a pioneering move, the UK has introduced the new Digital
Dispute Resolution Rules (UK Rules) to resolve
digital disputes involving novel technologies like
cryptoassets, smart contracts and distributed ledger
technology.
1 At a time when individuals and businesses are
increasingly capitalizing on blockchain-based solutions, a dispute
resolution mechanism to address blockchain related disputes is the
need of the hour. The rules offer a forward-looking and
innovative approach to resolving digital disputes that
is quick, flexible and cost-effective. These rules have been
introduced in the wake of the
