Blockchain-Based Smart Contracts Affect the Speed of Arbitration in Resolving Disputes and the Role of the Mediator in the Arbitration Process Especially in Supply and Logistics Contracts

Abstract

This research examines the impact of blockchain intelligent contracts on the arbitration rate and the mediator's function of settling disputes in supply and logistics contracts. The quantitative approach for the study and the involvement of 202 legal professionals acquainted with blockchain, the investigation explores the relationships of using smart contracts, trust, and speed of the arbitration process. The research results show that using smart contracts based on blockchain technology significantly improves the arbitration process's speed, efficiency, and transparency and strengthens the parties' trust. They can benefit policy-makers, lawyers, arbitration players, and enthusiasts by helping them grasp the potential of smart contracts in the arbitration system.