Start To End? The Extent Of Complete Digitalisation Of The Procedure Under Maritime Arbitration

Bhavana Suragani, Jindal Global Law School

ABSTRACT

The maritime industry, vital for global trade, encounters complex disputes that are commonly resolved through arbitration. Integration of contemporary cutting-edge technologies, including blockchain, artificial intelligence (AI), and data analytics tools, in maritime arbitration would be largely beneficial for the industry for streamlining the procedure under maritime arbitration. In order to highlight their significance in expediting and streamlining the arbitration procedures, the possible applications of blockchain, data analytics tools, internet platforms, and artificial intelligence have been discussed in the article. The paper then delves into the benefits of technology in transparency, cost-effectiveness, and efficiency, and envisions complete digitization of the arbitration process from the initiation of arbitration to the enforcement of the award. Towards the end, a number of complications have been reviewed, including possible coding flaws in smart contracts, jurisdictional issues, concerns about data security, and certainlegal complications among other issues. After a thorough evaluation of the same, a proposition has been put forth suggesting cooperative efforts amongst the stakeholders involved to address the difficulties by issuing guidelines and develop best practices for the effective integration of technology in maritime arbitration.