BACS has the first international tribunal specialized in cryptocurrencies and blockchain, BACSIT.
International tribunal specialized in conflict resolution
Clause of submission to arbitration, mediation or verdict of independent expert:
The intervening parties freely and voluntarily agree that any dispute, discrepancy, claim arising out of the execution, performance, validity or interpretation of both this whitepaper document, and any other documents related to this project, including programming and computer coding of the project, shall be finally resolved through Arbitration, Mediation or Independent Expert Verdict administered by the International Tribunal of the Blockchain Arbitration and Commerce Society (BACSIT), which is entrusted with the administration of the arbitration, mediation or independent expert verdict and the appointment of the arbitrator or arbitrators, mediators or experts, in accordance with its Rules and Bylaws. The language of the arbitration shall be Spanish or English.
For the purposes of notifications, the party indicates as means of notification the following email and/or Telegram account.
Download of the regulations
Tribunal’s Board of Directors
Advantages of BACSIT
Submitting disputes that may arise to BACSIT has these advantages:
The arbitrators, mediators or experts who resolve BACSIT disputes are arbitrators specialized in arbitration, cryptoassets and blockchain.
Speed and agility
BACSIT regulations provide for a procedure based on efficiency and speed. Depending on the procedure and the complexity of the case, proceedings can take days, weeks or even months. Do not wait for a Halving to have a Court Judgment that will not be enforceable.
Enforcement of smart contract awards
The parties must guarantee compliance with the award or verdict with cryptoassets that will be enforced in accordance with the judgment via smartcontract.
The parties agree to the confidentiality of the award, settlement or verdict.
Global reach. International locations
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