Research On Smart Contract Dispute Resolution Mechanism

Different from the centralized framework of traditional contract,blockchain-based smart contract is decentralized and self-executing,it can be applied to many fields such as financial transactions,evidence preservation,property rights and so on.Smart contract can improve transaction efficiency,reduce transaction costs,and promote transparency of market development.From the perspective of law,smart contract is the expression of will,rights and obligations are behind smart contracts.The disputes over smart contract should be solved under a specific legal framework.However,the relevant regulatory system and law are not clear,resulting in the lack of relief channels.In addition,compared with traditional contracts,smart contract disputes are more complex.Jurisdictional issues and automatic execution mechanism are all challenges to the traditional dispute resolution mechanism.With the development of smart contracts in the future,the disputes caused by smart contracts will inevitably lead to more disputes.It is necessary to study the smart contract dispute resolution mechanism on the above contents.Based on the particularity of smart contract disputes,this paper analyzes the dilemma of the current dispute resolution mechanism in dealing with such disputes,and at the same time,puts forward some suggestions on constructing and improving the smart contract dispute resolution system.The article is divided into four chapters,the first chapter mainly reviews the background of the smart contract and the current research status of the dispute resolution at home and abroad,so as to derive the research methods and research ideas.The second chapter is a basic exposition of the disputes caused by smart contract,including the concept and legal attributes of smart contract,the particularity and the causes of smart contract disputes,and briefly expounds the challenges of smart contract to the traditional dispute resolution mechanism based on the particularity and complexity.The third chapter analyzes the blockchain dispute resolution.This mechanism based on the concept of decentralization can solve disputes without destroying the pseudonym,which is in line with the development trend of smart contract.However,there are also some problems and it is necessary and urgent to strengthen supervision.Chapter 4 puts forward suggestions on the construction of the smart contract dispute resolution mechanism: on the one hand,we should improve relevant mechanism and standards through ‘regulatory sandbox’;On the other hand,the legal provision of jurisdiction and responsibility should be perfected.We should also improve conflict of laws combined with the rule of autonomy of the will and the doctrine of the most significant relationship.In the meantime the diversified dispute resolution mechanism should be constructed,so that smart contract disputes can be properly solved under the comprehensive regulatory system.