OECD considering new dispute resolution system
The Organisation for Economic Co-operation and Development’s (OECD) Blockchain Policy Centre recently held its 2020 Global Blockchain Policy Forum. The aim was to understand how to use distributed ledger technology (DLT) for public policy problems.
Blockchain and its underlying distributed ledger technology have the potential to transform a wide range of industries and markets fundamentally. The Global Blockchain Policy Centre explores the benefits and risks of blockchain for economies and societies, beginning to identify promising policy and regulatory approaches, and investigating uses in specific policy areas.
The OECD Global Blockchain Policy Forum is among the leading international events related to distributed ledger technology's public policy implications. The forum focuses on:
- assessing the development of blockchain;
- specific challenges to implementation and adoption;
- emerging policy responses; as well as
- best practices identified in public blockchain initiatives across the world.
The 2020 iteration of the forum took place on 16 - 20 November 2020 as a wholly virtual event. It convened government ministers, senior policymakers, industry leaders, academics, and other stakeholders to:
- discuss the leading applications and significant policy issues confronting the blockchain ecosystem in 2020, including asset tokenization, central bank digital currencies, and self-sovereign identity;
- review the emerging policy responses including through the recent work of the OECD, and share best practices identified across the world
- look ahead to emerging trends in the blockchain industry, and hear from stakeholders how policy can best support viable and fit-for-purpose innovation and the adoption of distributed ledger technologies.
Jur Open Justice Platform
The OECD has selected Jur to participate in the forum along with 17 other startups. The Jur team presented its Open Justice Platform, an online dispute resolution system that is in use in 166 jurisdictions. Jur also discussed policy implications of blockchain and DLT and upcoming issues with senior-level policymakers and industry experts.
In their evaluation, the OECD’s committee has recognized the positive impact that the Open Justice Platform can bring to small and medium enterprises and professionals worldwide. In their view, the Open Justice Platform boosts access to justice and alleviates the friction created by distrust and uncertainty.
Per Allesandro Palombo, the founder, and CEO of Jur:-
"Our mission is to increase access to justice through a multi-jurisdiction online dispute resolution system. Ultimately, we want to ensure a standardized and efficient flow for dispute resolution in almost every country in the world.
We are focusing on disputes with values of less than one million USD. Nowadays, you can't resolve such disputes cost-effectively with contemporary arbitration.
Instead of being a cost or a burden to society, people-centered justice delivery can become a thriving economic sector. It CAN contribute to GDP and employment with scalable services that can be delivered sustainably.
We are glad the OECD has recognized the potential of Jur."
Apart from OECD, Jur was recently chosen by LawtechUK, a UK government-backed organization, as the delivery partner for their Dispute Resolution Platform initiative.
CL News Team closely follows events that could potentially shape legal services delivery, the business of law, and influence transformation of the legal space.
If you have important news to share, or would otherwise like to get in touch, feel free to email editorial(at)cloiutlegal(dot)com.