A Study of Blockchain-Powered Smart Contracts and Their Impact on Arbitration

Introduction : In recent years, the crossway of blockchain technology and arbitration has gathered much attention in the legal and technological world. Blockchain, a decentralised and rigid ledger system, sanctioned transparent and secure transactions without any need for middle men. Smart contracts, which work on the major blockchain platforms, are automated contracts with terms directly written into the code, enabling automatic execution once pre-defined conditions are fully met. This...