Blockchain and Online Dispute Resolution

The second of my papers delivered at the APEC workshop is also available here at the APEC website. It is “Blockchain and Online Dispute Resolution” (2018/SOM1/EC/WKSP2/017).

The paper considers the possible impact of the blockchain technology on the ODR rule making. It foresees that the world of online market will gradually flatten. Thus, the domination of big and powerful enterprises in the current hub-and-spoke model may be eroded with the emergence of the sharing economy model where MSMEs (micro, small and medium enterprises) will have a growing profile. This trend may be accelerated in the future, with the blockchain technology facilitating the P2P model where consumer-to-consumer transactions will also increase.

In this process, the characterization of consumers as the weaker parties will become less real or relevant, rendering consumer protection less of legislative priority in the ODR rule-making. This will be particularly significant in view of the great difficulties experienced in the earlier work of UNCITRAL on ODR which had been caused by legislative preoccupation with consumer protection.

Blockchain and Smart Contract for Contract Management (Dispute Prevention, Generation and Resolution)

A workshop on developing an ODR framework was organized by the APEC (Asia-Pacific Economic Cooperation) Economic Committee on 3-4 March 2018 at Port Moresby (Papua New Guinea). I was invited by the Department of Justice of Hong Kong to deliver two papers.

The first paper “Blockchain and Smart Contract for Contract Management (Dispute Prevention, Generation and Resolution)” (2018/SOM1/EC/WKSP2/005) is now published here on the APEC website.

The title is mouthful as it lists all the elements flagged by the organizers. After comparing and contrasting smart contracts with computer codes running in a central server, the paper notes that “smart contracts” are not contracts in the legal sense and considers their implications for contract management and dispute prevention. It alerts that the features of smart contracts are prone to generate disputes which often involve novel legal issues. The paper concludes with a brief comment on the potential use of smart contracts in dispute resolution.

"Implications of the Blockchain Technology for the UNCITRAL Works" – published.

It has come to my attention that my article “Implications of the Blockchain Technology for the UNCITRAL Works” had been published from the United Nations in November last year.
The 50th anniversary Congress was a big occasion for UNCITRAL and it was my great honour to be part of it.
Here is my article excerpted from the book.

An additional note: In my original manuscript, there were some references to specific chapter numbers. I have noticed that in the published version, they have been changed to “Ch. 0” due to the editorial work which has removed all the chapter numbers from the headings. To see where those were actually referring to, please consult my original manuscript here.

"Blockchain Technology for Letters of Credit and Escrow Arrangements" – published.

Here is the published version of my article “Blockchain Technology for Letters of Credit and Escrow Arrangements” (2018)135-2 Banking Law Journal pp.89-103.

The analysis is multi-layered, with up to three levels of headings. To aid readability, I gave chapter numbers in my original manuscript (See the unedited version attached to my previous post). But because the numbering is not compatible with the journal’s style of headings, the experienced editor has come up with an alternative solution. Though it may have compromised readability somewhat, I hope that the structure of the article is still clear to the readers.

Blockchain Technology for Letters of Credit and Escrow Arrangements

Here is an article I have written on the basis of my presentation at the conference “Supply Chain Finance and the Changing Landscape of International Trade” held at the Gothenburg University (Sweden) on 23 October 2017.

An additional note (25 Nov 2017): This article has been accepted for publication from the Banking Law Journal and, after editing, is scheduled (tentatively) to appear in the February 2018 issue. The unedited Word version is kept here with permission.

Blockchain Technology for Letter of Credit and Escrow Service

Here are the slides I used for my presentation at the Gothenburg University (Sweden) on 23 October 2017.
Very many thanks to Abhinayan Basu Bal for his invitation.

Implications of the Blockchain Technology for the UNCITRAL Works

I will be presenting my thoughts on the subject above in the upcoming Congress of the UNCITRAL for the celebration of its 50th anniversary (4-6 July 2017).

My paper currently on the Congress website is a version which I sent to the UNCITRAL Secretariat some months ago and which no longer represents my latest thinking in some significant respects. I am asking the Secretariat to replace it with the latest version, to which I make a link from here. 

The paper gives a particular emphasis on the topic of proprietary restitution of blockchain-based tokens as an area which calls for a globally unified solution.

Postscript: As from 16 June, the Congress website carries the latest version. Many thanks to the Secretariat for swiftly acting on my request.