Analysis of the Validity of Blockchain Based Documents and Smart Contracts in International Arbitration

The expansion of blockchain technology and the emergence of smart contracts have significantly transformed the manner in which commercial documents are created, recorded, and stored. This transformation has raised fundamental questions regarding the validity and evidentiary value of such documents in international arbitration proceedings. The present study adopts an analytical–descriptive approach and draws upon both domestic and international legal sources to examine the theoretical foundations of digital documents, the technical characteristics of blockchain technology, the nature of smart contracts, and the legal criteria for assessing the validity of blockchain based documents in arbitration.In this regard, criteria such as authenticity, data integrity, attribution, accessibility, technical verifiability, system security, and compliance with the principles of due process are proposed as a framework for evaluation. The findings of the study indicate that although blockchain technology can mitigate certain traditional concerns regarding data manipulation, the acceptance of blockchain based documents still depends on the arbitrator’s legal assessment and their conformity with procedural rules and the fundamental principles governing arbitration.Moreover, the absence of uniform international regulations, differences among legal systems in the recognition of electronic evidence, issues related to conflict of laws, and challenges concerning the technical competence of arbitrators constitute significant obstacles in this field. Ultimately, the study concludes that adopting a functional approach, together with the prior contractual regulation of relevant matters by the parties, can enhance certainty and efficiency in the acceptance of blockchain based documents in international arbitration.

کلیدواژه ها:

International arbitration ، blockchain ، smart contracts ، electronic evidence ، validity of digital documents ، conflict of laws ، due process