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RE: Principled Blockchain Governance Requirement #4 - Arbitration

in #eos7 years ago

Arbitraition is popular globally, because like most of globalisation, what looks 'efficient' is actually a transfer of power and access to those who have lots of money and want more viz bank's use of 'arbitration clauses' in retail contracts to remove access to court processes....
Big diff between the theory and the practice here and 'arbitration' needs v careful handling....

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Indeed, arbitration can be weaponised to take rights away from people. The key here is to ensure that the forum is run by the members, for the members, of the members. For example, "big bad corp" cannot have any especial powers over the forum, and especially cannot steer Arbitrators by means of rewards. Normally, that latter one where the corporations sets the list of Arbitrators is the giveaway to weaponised Arbitration.

Unfortunately, that probably does not do enough to stop BBCorp hiring better/more expensive lawyers .... or suborning Arb's with persistent 'revolving doors' rewards..... but I'm just re-hashing the old 'Qui custodiet ...' debate....

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