The rapid evolution of technology, particularly blockchain, is poised to transform arbitration by introducing decentralization, enhanced security, and transparency. While blockchain offers potential benefits such as automated enforcement of arbitral awards, especially in small-value disputes, it also presents challenges. These include concerns over party autonomy due to automated arbitrator selection, rigidity from self-executing smart contracts limiting negotiation flexibility, confidentiality issues on public blockchains, and jurisdictional ambiguities affecting enforcement. The path forward requires integrating blockchain arbitration within existing legal frameworks, addressing regulatory uncertainties, and fostering stakeholder adaptation to new dispute resolution paradigms.
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