The Influence of Blockchain-based Smart Contracts on Arbitration Speed: The Mediating Role of Trust in the Arbitration Process

Abstract

This study investigates the influence of blockchain-based smart contracts on arbitration speed and explores the mediating role of trust in the arbitration process. Utilizing a quantitative research approach. A date was collected from a sample of 202 experienced legal practitioners and arbitrators through online survey in the realm of blockchain-based smart contracts was analyzed to examine the relationships and effects concerning the employing of smart contracts, trust, and arbitration speed. Statistical tools were used to prove the study model. The study provides empirical evidence on the relationship between smart contracts and arbitration speed, highlighting the potential benefits of their implementation. The findings of this study have significant implications for policymakers, legal practitioners, and stakeholders involved in arbitration, as they shed light on the potential advantages of integrating smart contracts into the arbitration process. By leveraging the transparency, security, and automation features of blockchain technology, smart contracts have the potential to streamline arbitration proceedings, expedite resolution times, and enhance overall trust in the process.

Keywords: Blockchain-based, Smart Contracts, Arbitration Speed, Trust in Arbitration Process