DUE PROCESS GAME HOW TO

This theory postulates that we, the pathetic dots, are regulated, or more precisely, constrained by four forces. When considering the вЂњ regulabilityвЂќ of DApps dealing with dispute resolution, it is useful to consider the вЂњPathetic Dot TheoryвЂќ or вЂњNew Chicago School TheoryвЂќ elaborated by Lawrence Lessig in 1998. However, such a sanction is futile in the case of awards rendered via self-executable smart contracts, since enforceability is automatic. Article V(1)(b) of the New York Convention may sanction a lack of due process by refusing to recognize and enforce an award. The New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (вЂњthe New York ConventionвЂќ) enshrines this concept. Accordingly, the primary objective of any regulation must be to ensure that due process prevails in any type of blockchain-based arbitration available to the public.Дue process is a fundamental plank of international arbitration. The cornerstone of any justice system is that no one shall be punished without the benefit of due process. Ensuring due process in Arbitration DApps This article seeks to address such challenges by suggesting some possible guidelines.

DUE PROCESS GAME HOW TO

Any such regulation faces a number of serious challenges, such as how to determine the applicable jurisdiction in a blockchain-based arbitration. There is currently no regulation in transnational blockchain-based arbitration. The arbitration agreement forms part of the smart contract, arbitrators are selected using random numbers extracted from the blocks in the blockchain and the award is also embedded in a self-executable smart contract. These DApps use blockchainвЂ“based decision-making and blockchain-based arbitration to solve commercial disputes.Д«lockchain-based arbitration is just like traditional arbitration except it takes place on blockchains, such as Ethereum. As a result, several decentralized applications (вЂњDAppsвЂќ), such as Kleros Court, have emerged.

In a decentralized global economy operating in real time, existing traditional dispute resolution mechanisms may be too slow, too expensive and too unreliable.

Due process game