Work

Decentralized Justice: A Comparative Analysis of Blockchain Online Dispute Resolution Projects

Year: 2021

Type: article

Abstract: In recent years, the digital economy has experienced a growing number of transactions. Traditional dispute resolution methods such as court and international arbitration are ineffective for handling a large volume of small value claims across national borders. Decentralized justice is a new approach to online dispute resolution that combines blockchain, crowdsourcing and game theory in order to produce resolution systems which are radically more efficient than existing methods. This article offers a review of the decentralized justice industry and of the key players participating in it. It presents a number of key dimensions of the industry and reviews the mechanism design choices made by these different platforms. Finally, it discusses a growth hypothesis for the industry and how it may grow in the future.

Source: Frontiers in Blockchain

DOI: 10.3389/fbloc.2021.564551

Authors: Yann Aouidef, Federico Ast, Bruno Deffains

Institutions: Centre de Recherche en Economie et Droit, Austral University, Université Panthéon-Assas

Language: English

Topic: Dispute Resolution and Class Actions

Subfield: Law

Field: Social Sciences

Domain: Social Sciences

SDG: Peace, justice, and strong institutions

Open Access status: gold

Estimated APC paid: $1,150