The emergence of the "First Metaverse Arbitration
Case" signifies that commercial arbitration has entered a new era. Looking
back at the century long development history of commercial arbitration, it has
gradually been applied to the commercial field from the initial temporary
dispute resolution between neighbors, and has become one of the most popular
mechanisms for commercial dispute resolution, in which technology plays an
important driving role. As a virtual space that integrates internet
technologies such as blockchain, cloud computing, and the Internet of Things,
the metaverse has a profound and disruptive impact on the current commercial
arbitration system in terms of the legality and adaptability of program
startup, operation, and termination. On the one hand, conventional issues such
as foreign-related determination, legal application, and arbitrability scope in
international commercial arbitration are magnified in the virtual environment;
On the other hand, new issues such as obstructed identification of various
parties involved in metaverse arbitration and a lack of legal support for
automatic execution procedures are constantly emerging, which have had an
impact on the existing commercial arbitration system. To address the multiple
challenges brought by metaverse technology, commercial arbitration needs to
adhere to the dialectical unity of integrity and innovation. Firmly grasp the
"genetic code" that has been passed down to this day, and integrate
practical experiences such as humanistic concepts and rule dissemination into
the construction process of the metaverse arbitration mechanism; At the same
time, we will leverage the flexible, autonomous, and proactive institutional
functions of commercial arbitration in diverse dispute resolution mechanisms,
using small-scale cases as pilot projects, digital justice as requirements, and
linkage mechanisms as guarantees, continuously seeking institutional and
technological innovation, and thus completing the self innovation and era revolution
of commercial arbitration in the metaverse era.
