Decentralized Arbitration Tribunals and Smart Contracts: A New Horizon for Commercial Arbitration in Colombia

Abstract

The primary objective of this research is to analyze the recognition of decentralized arbitration as a dispute resolution mechanism for conflicts arising from smart contracts within the Colombian legal system, particularly givedn the absence of a specific regulatory framework that ensures minimum guarantees for its integration. This study was conducted using a qualitative theoretical approach, employing the historical-logical method to examine the evolution of smart contracts and decentralized arbitration. This was supported by the analytical-synthetic method and a selective documentary review to evaluate its applicability in Colombia and to develop a proposal that effectively incorporates these mechanisms into the Colombian context. The findings reveal significant regulatory challenges associated with self-execution, code immutability, and the lack of integration of these mechanisms into the judicial administration system. Consequently, solutions are proposed to align the legal framework with this emerging digital paradigm, offering modern dispute resolution alternatives tailored to the contemporary environment. Finally, it is concluded that Colombian law is undergoing a transformative process in which it is pertinent to adopt regulatory reforms aimed at recognizing and integrating decentralized arbitration as a valid mechanism for resolving disputes arising from smart contracts. This will ensure party protection, legal certainty, and the adaptation of the justice system to new technological paradigms.