When Codes Meet Courtrooms- Examining the Enforceability of Blockchain Based Arbitral Awards

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, particularly in the Indian context. The major focus of this article, however, would be to probe into the question of enforceability of the awards resulting from blockchain based arbitrations. Thus, the challenges and potential solutions in the enforcement of these awards will be probed into, both under the New York Convention on Recognition and Enforcement of Arbitral Awards 1958 regime, as well as under the Arbitration & Conciliation Act, 1996.