The Development of New Technology Intergration in E-commerce Dispute Resolution in Vietnam

Résumé

Regulatory authorities all over the world are making plans to observe and advise cryptocurrency action in their countries in a responsible way. This is to ensure, among other things, market rate behavior, market economics, the implementation and regulation of tax laws, and consumer safety inside the distinctive attributes of the investments, all while encouraging the development of a profitable bitcoin economy. Vietnam is no different, especially as cryptocurrencies are known to be cross-jurisdictional, and as such, supervisory difficulties do not end at state boundaries. Recent developments in Vietnam indicate that they are moving toward cross-jurisdictional regulatory norms to promote regulatory clarity, remove loopholes, and prevent regulatory arbitrage, all while adhering to stringent currency control. There also has been some recent recognition of crypto-based inventions and efficiency in money and
trade, notably for cross-border dealings. Some progressive examples in this paper are illustrated to develop dispute resolution mechanisms for e-commerce using new technology. Recommendations are made in respect to the use of viewpoints of a comprehensive cross-section of the Quadratic Voting/Smart Contracts with permission-based blockchain network as useful tools to assist Vietnamese controllers in emerging online dispute mechanisms towards a streamlined e-commerce economy.