DIGITAL LEGAL LAB SEMINAR
WITH AMY J. SCHMITZ

Smart contracts built in the blockchain are quietly revolutionizing traditional transactions despite their questionable status under current law.  At the same time, disputes regarding smart contracts are inevitable, especially with the rise of NFTs built in the blockchain. Of course, parties will need means for dealing with smart contract and NFT issues. This talk tackles smart contracts and NFTs, explain disputes that will develop and need for online dispute resolution (“ODR”) to efficiently and fairly resolve smart contract disputes. Furthermore, the talk acknowledges the benefits and challenges of current blockchain arbitration start-ups, and proposes specific ideas for how designers could address those challenges and incorporate ODR to provide just resolutions that will not stymie efficiencies of smart contracts.  Nonetheless, the talk also raises pivotal cautions and questions for ensuring the fairness and transparency of these solutions over the longer term. The talk hopes to engage conversation and generate debate.