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Resolving NFT and Smart Contract Disputes

Prof. Amy Schmitz, an expert in online dispute resolution, has recently contributed to the forthcoming Cambridge Handbook on the Law and Policy of NFTs with her chapter on “Resolving NFT and Smart Contract Disputes”.

The Non-Fungible Tokens (NFTs) built in the blockchain are quietly revolutionizing ideas around digital assets despite their questionable status under current law. Furthermore, the smart contracts that control many NFTs are disrupting the way deals are done. At the same time, disputes regarding NFTs and smart contracts are inevitable, and parties will need means for dealing with these highly technical issues. This chapter tackles this challenge and proposes that parties turn to online dispute resolution (“ODR”) to efficiently and fairly resolve NFT and smart contract disputes. Furthermore, the chapter acknowledges the benefits and challenges of current means for addressing blockchain issues and proposes ideas for how designers could address those challenges and incorporate ODR to provide efficient and fair resolutions.

daniel chow

A Critique of the 2020 United States China Trade Agreement and Suggested Corrective Measures

Check out Prof. Chow's new publication, A Critique of the 2020 United States China Trade Agreement and Suggested Corrective Measures

This paper offers an analysis and critique of the 2020 United States China Economic and Trade Agreement (USCTA). Although the USCTA may have some short term benefits for the United States, the USCTA also contains a number of positions that are inconsistent with the long-term interests of the United States and the global economy. Our proposals are (1) a new trade agreement on counterfeiting on the Internet that supplements the intellectual property provisions of the USCTA; (2) a proposed rethinking and revision of the USCTA unilateral dispute resolution process purporting to give the United States complete control over all USCTA and WTO disputes with China; and (3) a new approach to dealing with China’s use of industrial subsidies and other market access issues in light of the abandonment of Phase II of the USCTA.