Blockchain start-up Finboot has partnered with the London Chamber of Arbitration and Mediation (LCAM) to provide its MARCO suite of applications for dispute resolution between businesses.
Last week, the UK government urged companies to avoid lawsuits for contractual disputes due to COVID-19 and advised mediation before invoking legal clauses. LCAM was recently set up as a business entity by the London Chamber of Commerce and Industries, the networking and business support organization.
LCAM offers arbitration, expedited arbitration and mediation services. It is using blockchain to administer the cases by optimizing case management, ensuring documents are securely uploaded, stored, and timestamped. The solution is expected to reduce administrative costs.
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