무역거래에서 블록체인 도입이 중재에 미치는 영향

A Study on the Impact of Blockchain Technology on Arbitration in Trade

This study is to prepare a dispute resolution solution to solve the problems related with from the use of Blockchain technology in Trade contracts. Arbitration is a promising alternative because it is effective to distribute risk efficiently and treat recovery costs at a minimum. Design/Methodology/Approach - When analyzing prior research, it is desirable to resolve disputes related to smart contracts using Blockchain technology through arbitration as an alternative dispute resolution method. Blockchain, which are a representative technology of anonymity and a distributed processing, makes it difficult to determine jurisdiction based on location, so it is reasonable to process claims through arbitration. Findings - As a matter to be considered in arbitration through Blockchain, the risk allocation of contracts, including considerations according to the limitations of Blockchain technology, and governing laws and jurisdiction, was considered. In this study, two types of approaches were analyzed as matters to be considered in arbitration through Blockchain. First of all, in the new system, it is possible to build a system that inserts arbitration clauses within the Blockchain platform. This study will help companies can prepare a new arbitration platform using Blockchain technology. Next, since it is distributed and stored in a plurality of nodes, it is necessary to declare the applicable law and jurisdiction to exercise regional jurisdiction. The principle of least-cost avoider would be valid for risk allocation according to contract failure. Research Implications - Prior research suggests the advantages of introducing Blockchain technology in trade transactions, but has not solved the problem of legal stability. Since dispute resolution has no choice but to be resolved through arbitration. This study proposed a Arbitration considerations issues to establish a new Blockchain arbitration system.