Blockchain is ready to reshape the practice of the law and the resolution of disputes is no exception.
The JAMS alternative dispute resolution group, which has made a name for itself in technology circles as an e-discovery broker, is trying to anticipate the curve by starting a practice that focuses particularly on cryptocurrencies, blockchains and smart contracts. .
The practice is placing particular emphasis on the creation of specific protocols for disputes involving the blockchain, a technology that has been described in disputes in particular around cryptocurrencies, as well as in the practice of law through contracts.
A The statement announcing that the practice group was largely Mum on the specifications of these protocols. However, Daniel Garrie, neutral in JAMS, a key participant in the study, told The Recorder that the group "is conversing with various corporate actors and a new judicial project that is evaluating and looking at them".
Likewise, JAMS senior vice president Kimberly Taylor, chief legal and operative, cited "behind the scenes" conversations for the development of protocols applicable in all sectors.
Describing the focus of JAMS's efforts around the blockchain in arbitration, Taylor noted: "When you have pen and paper and paper contracts to review and determine the parties' obligations and expenses, this is [now] all what exists in a virtual world Some of the data points are irrefutable because they are captured in the blockchain, so the future of how they will be resolved will be different. "
" The expectations of the parties on the times will be much more rigorous than the arbitration commercial, "he added, noting that blockchain and the technologies to which it is applied could mean that the parties act more quickly with less delay.
JAMS is probably the only ADR group with a practical area focused on the specific disputes of the blockchain. However, the technology was exploited on a platform Juris Project . Similarly, Jury.Online reported last fall from CoinTelegraph to have worked on a dispute resolution protocol for judges and parties to deliberate and execute agreements involving cryptographic and blockchain systems.
Garrie and Taylor did not specify the deadlines for the rules, although they noted that they are currently being drafted.
A number of law firms entered the blockchain space, such as Anderson Kill; Orrick, Herrington and Sutcliffe; and Frost Brown Todd. In addition, a multinational called Blockchain Law Group boasts release and key deposit services in transactions involving blockchain, among its services.
JAMS for his part is not a beginner in the game of innovation. The organization considers itself a member of the Smart Contract consortium, The Accord Project, which boasts a number of legal studies among its ranks.
Overall, Taylor noted, with blockchain, that it is "a very nascent world, and I think a lot of companies are trying to determine how this great technology will be applicable in their environment."