Mapping Ai-Arbitration Landscape: Exploring Blockchain Based Arbitration Models Through A Legal Lens

Blockchain technology offers revolutionary potential with its decentralized structure and smart contracts, enabling transparent and trustworthy transactions. \r

Smart contracts executed on blockchain pave the way for blockchain-based arbitrations. These can be categorized as 'on-chain' or 'off-chain' depending on their deployment stage. While 'on-chain' arbitration ensures automatic execution of arbitral awards, 'off-chain' arbitration automates specific arbitration elements without automatic award execution. \r

Despite their promise, blockchain-based arbitration faces challenges. This article explores Kleros, an existing blockchain-based arbitration model, and evaluates its feasibility in terms of legal compliance, party autonomy, confidentiality, and award enforcement.