ADGM Courts put justice on the blockchainADGM Courts 15/11/2022
- ADGM Courts announce a groundbreaking development enabling the enforcement of commercial judgments on the blockchain.
- Underpinning the project is the foundational concept that international trade and commerce benefits from the enforceability of foreign judgments.
Abu Dhabi Global Market (ADGM) Courts continue to demonstrate their leadership in the digitisation of justice, announcing the first-ever introduction of blockchain technology for the global enforcement of commercial judgments. ADGM Courts have developed a unique solution that publishes judgments to the blockchain, enabling enforcing commercial courts to independently and instantly verify the authenticity of judgments. This is the start of ADGM Courts’ vision to revolutionise every aspect of the enforcement process, driving sustainable change for the justice sector.
The blockchain solution will result in substantial time and cost savings for parties in the enforcement of their commercial judgments. Secure, immutable judgments will be available to parties and enforcing courts, via ADGM’s website, an API or directly on the blockchain for member courts. Parties will no longer need to wait for a certified copy of the judgment to start the process in the enforcing jurisdiction. This is a major development for international trade and commerce.
ADGM Courts began the digital evolution of justice in 2018, with the launch of their unique e-Courts platform, enabling the end-to-end digital journey of a case. The use of blockchain technology now signals a sea change for the international enforcement of commercial judgments. It is envisaged that the formation of a Consortium of International Commercial Courts utilising this solution will transform the future of justice.
The Right Honourable Lord David Hope of Craighead KT, Chief Justice of ADGM Courts, said: “It is of paramount importance that international commercial courts deliver justice quickly, efficiently and fairly. We believe our Court's blockchain project will promote the formation of a global enforcement network by a consortium of international courts. This will bring with it the benefits of speed and reliability that are the hallmarks of the system. It will also show that our courts are well able to keep in touch with rapid changes in commerce and technology. In our view, this makes for a very promising future for international commercial courts.”
Linda Fitz-Alan, Registrar and CEO of ADGM Courts, said: “We are delighted to have pushed the boundaries with technology to launch another game changer for the justice sector. The use of blockchain technology for the enforcement of commercial judgments is a compelling proposition, given the speed at which parties need to enforce their judgments to reduce the risk of dissipation of assets that may be the subject of their enforcement action. The benefits of this revolutionary service for the international business community will be significant.”