Smart Resolutions: Leveraging Mediation for Smart Contract Disputes

Mediation, as a cornerstone of alternative dispute resolution, continues to evolve in response to the complexities of the contemporary legal landscape. In the arena of legal dispute resolution, individuals and organizations seek the mechanism that would be flexible, informal and accessible enough to best serve their interests while consuming the least amount of time and money, which provides a robust underpinning for the growth of mediation as a method of dispute resolution. As the demand for effective and expeditious conflict resolution grows, the integration of innovative approaches into mediation processes becomes increasingly pivotal. This article throws light on the advent of blockchain technology-based Smart Contracts, while discussing the edge that mediation has in the disputes arising from smart contracts. The author also contemplates the growth potential for mediation in the present era, by contextualizing it with Online Dispute Resolution.