The American Arbitration Association (AAA), one of the world’s largest providers of private dispute resolution services, has launched a specialized panel for blockchain and digital asset cases, providing companies with access to arbitrators with expertise in the technical and legal intricacies of cryptocurrency disputes.
AAA on Wednesday he said that its novel Web3 panel brings together arbitrators with experience in law, technology, academia, litigation and digital asset businesses.
The panel aims to resolve disputes arising from increasingly automated and decentralized trading systems, including disputes relating to contract interpretation, governance, asset control, cybersecurity, transaction records and cross-border law enforcement.
The move signals that major legal institutions are building specialized infrastructure to handle the increasingly complicated disputes emerging as blockchain and automated transactions enter commercial operate.
“The Web3 disputes involve familiar commercial issues in a highly technical environment,” said Eric Dill, AAA senior vice president and head of panel relations.
Initial members include digital asset and technology litigation attorneys University of Pennsylvania law professor David Hoffman and Rich Widmann, global head of Web3 strategy at Google Cloud.
The panel also covers disputes involving agent-based trading and autonomous transactions, in which software or artificial intelligence systems can initiate or execute contracts with constrained human involvement.
The panel does not give the AAA regulatory authority over the crypto industry. Arbitration typically requires the parties involved to agree to submit the dispute to a private arbitrator.
Related: The American arbitration giant introduces a “legal layer” for agent trading
