Transforming the legal landscape with blockchain: an examination of kleros as a decentralised dispute resolution system

This research investigates the transformative potential of blockchain technology within the legal landscape, with a specific focus on Kleros as a decentralised dispute resolution system. By examining the theoretical foundations, technological aspects, and legal implications of blockchain, this study provides critical insights into how this technology can reshape legal processes. It highlights the limitations of traditional legal systems and explores how blockchain’s inherent features—such as transparency, immutability, and efficiency—can effectively address these challenges. The research delves into Kleros as an innovative alternative for dispute resolution, underscoring its advantages in terms of transparency, cost-effectiveness, and accessibility. It also addresses significant legal issues related to blockchain implementation, including privacy, data protection, and regulatory compliance. Furthermore, the potential of smart contracts is explored as a means to enhance contractual relationships and mitigate legal concerns. This study emphasises the urgent need for balanced regulatory frameworks that can effectively govern four key areas: cryptocurrency transactions, smart contracts, blockchain-based data storage, and Initial Coin Offerings (ICOs). Through an analysis of international conventions, the research advocates for concrete regulatory proposals aimed at fostering innovation, protecting user rights, and ensuring legal compliance within the dynamic realm of blockchain technology.