Lex Mercatoria via Digital Code: The Blockchain Era

This chapter investigates the problematic aspects of the digitalisation of the law merchant by considering the case of technologies. It is noted that this case represents a paradigmatic example of technology ’s role in governing markets and communities of digital merchants. Second, the chapter discusses the foundations of the digital lex mercatoria , namely: code supremacy, digital trust, blockchain-based contracting, and digital and private justice via arbitration. Th e conclusion critically addresses the promises of the new digital law merchant, which fall down primarily due to the many shortcomings of the ideology of technological supremacy and autonomy. Consequently, while analysing this new manifestation of the creativity of digital merchants within the fascinating doctrinal history of lex mercatoria , the chapter concludes by stressing the need to preserve human trust and contractual fairness as the basis for the law merchant is emphasised.