Self-Enforcing Online Dispute Resolution: Lessons from Bitcoin

Ortolani, Pietro

doi:10.1093/ojls/gqv036

Cited by 28 publications

(7 citation statements)

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“…To be eligible, buyers would have to click a "resolve" button, and that would give them access to the "resolution center, " where the two parties would initially try to solve the dispute bilaterally, and "'in the rare event that an agreement can't be reached, a Silk Road admin would be right there to mediate and investigate if necessary." This demonstrates the existence of a platform-led dispute resolution body adjudicating potential issues arising out of problematic deals (Ortolani, 2016).…”

Section: Buyer's Guidementioning

confidence: 89%

The Private Governance of Identity on the Silk Road

Goanta

2020

Front. Blockchain

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Long before the creation of blockchain platforms, the rise of personal computing, and Internet connectivity brought with it a digital, online dimension of the material world, leading to the socio-technical construct known as "digital identity." After the online discussion boards and emailing lists of the early 1990s, individuals started socializing via the Internet more predominantly using social networks. One specific type of platform links this online socializing and transacting to blockchain-based spaces: dark web marketplaces. Identified as second-generation cryptocommunities, dark web marketplaces deployed cryptography for the use of pseudonymous identity, for communication, but also currency. This paper explores two questions in this fascinating space: what was the role of identity on the Silk Road, and what governance lessons can be drawn from this illustration for the purpose of applying them to more recent cybercommunities such as Ethereum? The paper is structured as follows. The first part describes the Silk Road and sketches its essential characteristics. The second part looks at how individuals could become platform users on the Silk Road, by analyzing the contractual relationship between the Silk Road and an individual user based on the rights and obligations enshrined in the Silk Road terms of service (ToS). The third part critically reflects on arbitrariness as the main pitfall arising out of the private regulatory framework created by the Silk Road, and contributes to existing narratives surrounding the regulatory nature of code by proposing a code-as-procedure perspective for analyzing this regulatory framework. Part four concludes.

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Section: Buyer's Guidementioning

confidence: 89%

The Private Governance of Identity on the Silk Road

Goanta

2020

Front. Blockchain

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“…Regardless of the type of organization, there is binding enforcement of the ODR outcome. If parties cannot reach an agreement, one will most likely sue another at a traditional court even if it is deemed disproportionate to the values in dispute (Ortolani, 2016).…”

Section: Source: (Ec 2011)mentioning

confidence: 99%

The Regulation of Digital Trade

Jaller¹,

Gaillard²,

Molinuevo³

2020

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“…The manner of expression should facilitate that execution by enabling optimal techno-legal expression of the agreement between the parties. A plethora of factors play into this assessment, including how tightly natural language and formal logic should be bound together, issues of safety such as how smart legal contracts should be verified and tested 76 , the permissible range of executable operations 77 , interrelation between runtime environments, and issues of exception management 78 to name but a few.…”

Section: Toward Techno-legal Standardsmentioning

confidence: 99%

Smart Contractsas Techno-Legal Regulation

Hunn

2019

JICTS

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Smart contracts on a blockchain network can be implemented to control digital value. A key question that arises is the extent to which smart contracts can, or should, operate as "smart legal contracts". Simply put, can smart contracts meet requirements of validity at law and practical efficacy. In order to achieve the goal of value maximization, the efforts of policy-makers, standards organisations and regulators should be informed by first principles. Standards, and other regulatory activities, must be driven by consideration of the technolegal functions of contracting. Blockchain-based smart contracts offer the potential to reduce transaction costs through new methods of stateful computation. When applied to commercial transactions, smart contracts can represent enforcement of an executed state. This paper argues that distributed ledger and smart contracts standards should seek to provide sufficient flexibility to facilitate contracting parties to coordinate in an optimal manner.

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Self-Enforcing Online Dispute Resolution: Lessons from Bitcoin

Cited by 28 publications

References 0 publications

The Private Governance of Identity on the Silk Road

The Private Governance of Identity on the Silk Road

The Regulation of Digital Trade

Smart Contractsas Techno-Legal Regulation

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