Revolution of Smart Contracts in Arbitration: An Analysis

Today we see everything around us being developed and digitalized, and sometimes we feel very fascinated about everything. It is clear that where there is digitalisation, there will be curiosity. Now, one wonders why there is tons of paperwork if everything is digitalised, specifically in making deals or contracts? It is true that paperwork causes a lot of hassle and it’s difficult to keep track of papers considering even if one paper gets lost it becomes tragic to make an account for all papers So, in today’s modern world there is a solution for everything we have to click and tap. A smart contract is a solution which can replace traditional contracts. Now after the introduction of the term ‘Smart Contracts’ we can imagine from its name that the process of making contracts will now be much easier and hassle-free because the artificial intelligence technique (herein referred to as “AI”) will automatically decide what is legit and what is not.