17 March 2021
Sir Geoffrey Vos, Master of the Rolls, reported on legal progress to the International Swaps and Derivatives Association annual forum last week.
He said a UK taskforce has just finished its public consultation on draft digital dispute resolution rules, and the final rules were likely to be published at the end of March.
The rules would be incorporated into ‘on-chain digital relationships and smart contracts’, he said, and would ‘provide unusually for arbitral or expert dispute resolutions in very short periods, arbitrators or experts to implement decisions directly on-chain using a private key, and optional anonymity of the parties’.
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