Why Multisig Might Not Be Ready for Widespread Arbitration Use

Multisig technology offers a promising, trustless solution for cross-border disputes, but it faces challenges in gaining widespread use in international arbitration due to its complexity and the slow adoption by arbitration institutions. Despite its potential, multisig must align with existing legal frameworks to become a standard method for resolving disputes.

Table of Links

Abstract and I. Introduction

II. Award Form and Content

III. Electronic Signatures, Writing Requirement, and Authentication

IV. Can Multisig Arbitration be Seen as an Autonomous Legal Order?

V. Conclusion

Appendix A: Multisig Transaction on Bitcoin Testnet Example

Appendix B: Breakdown of BTC Stored in 2/3 Multisig Accounts

V. CONCLUSION

Multisig is an exciting technology that could change how merchants resolve cross-border disputes. The multisig protocol functions similar to escrow, but a key difference is that no one party, including the arbitrator, has sole possession ...