What is ODR

Blockchain is an indestructible ledger technology with a permanent digital footprint which is bringing about disruptions in almost every aspect of life. Since its inception, blockchain was deployed to eliminate human cost and effort and bring in decentralisation of power and control. With the overburdening of cases in national court systems, alternate dispute resolution is today the preferred mechanism for resolving private commercial disputes, outside of courts, especially arbitration. Resolution of commercial disputes plays a major role in the economic growth of any nation. Success of any system calls for a comprehensive approach consisting of five building blocks: the legal basis, the organisational setup, human excellence, communications, and management of change. It is also a hypothesis that the courts in the future will be more like a service rather than a location, with courtrooms being online/virtual, and customer-centric providers leading the market space. Resolution of commercial disputes will become more competitive and differentiated on the international front.