To prevent legal disputes arising in connection with the conclusion and execution of contracts, blockchains and smart contracts offer the possibility to simplify business transactions considerably. An overview of potential dispute resolution options. Blockchains and Smart Contracts are technologies of multiple use. Nevertheless, legal disputes cannot be completely avoided even by using such innovative technologies. How could a suitable solution look like that meets the specifics of blockchains and smart contracts? For thousands of years, international merchants have been settling their disputes by means of (private) arbitration, long before a state justice system in the form we know today existed.…
