About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline

LOG IN
LOG IN


7 Ind. Arb. L. Rev. 95 (2025)
When Codes Meet Courtrooms - Examining the Enforceability of Blockchain Based Arbitral Awards under the New York Convention and Indian Law

handle is hein.journals/inalr7 and id is 113 raw text is: WHEN CODES MEET COURTROOMS- EXAMINING THE ENFORCEABILITY OF BLOCKCHAIN BASED ARBITRAL AWARDS UNDER THE NEW YORK CONVENTION AND INDIAN LAW -Piyush Senapati* & Parul Anand** ABSTRACT One of the most intriguing and perhaps trail-brazing phenomena that the modern day blockchain revolution has produced is the emergence of crowdsourced, blockchain based dispute resolution platforms. This article seeks to probe into a description of the functioning of these blockchain based arbitrations, along with some of the advantages they present as compared to traditional arbitrations. The major focus of this article, however, would be to probe into the question of enforceability of the awards resulting from blockchain based arbitrations, both under the New York Convention as well as Indian law. This will be done by focusing on four key issues- the requirements of agreement in writing, a seat of arbitration, due process, and reasoning of awards. Where the agreement in writing aspect is concerned, the article will be probing into the recommendations of the 246th Law Commission in the Indian context, beyond examining the solutions presented in this regard for the New York Convention. Where the issue of seats is concerned, the article seeks to draw an analogy between blockchain arbitral awards and 'a-national' awards enforced under the New York Convention. Further, it disputes the Hybrid Model' which has been commonly advanced in literature as a solution to the issue, and presents alternatives. For both due process and the reasoning requirements, the focus is on party autonomy, as the article examines the extent to which parties to a blockchain arbitration can contract out of such requirements and still have their award enforced. For all the four Mr Piyush Senapati is a 4th BA LLB (Hons.) year student at National Law University, Jodhpur. The author may be reached at: piyush.senapati@nlujodhpur.ac.in. Ms Parul Anand is a 4th Year BBA LLB student at National Law University, Jodhpur, (Hons.) and a Research Fellow at Kleros. The author may be reached at: parul.anand@ nlujodhpur.ac.in. 95