Method and system to facilitate gamified arbitration of smart contracts

A method to facilitate gamified arbitration of disputed smart contracts, the method comprising:

• receiving, using a communication device, a smart contract data associated with a disputed smart contract from an external system, wherein the smart contract data comprises at least one of an arbitration clause and information about a plurality of participants of the disputed smart contract and an associated security deposit data,
• transmitting, using the communication device, an arbitration request to a plurality of arbitrator devices to arbitrate the disputed smart contract;
• receiving, using the communication device, an acceptance of the arbitration request from two or more arbitrator devices in the plurality of arbitrator devices;
• transmitting, using the communication device, the smart contract data to the two or more arbitrator devices;
• receiving, using the communication device, an arbitration result from the two or more arbitrator devices;
• allocating, using a processing device, a smart contract fund associated with the disputed smart contract amongst the plurality of participants based on the arbitration result, wherein the smart contract fund comprises a value of the disputed smart contract;
• and
• allocating, using the processing device, the smart contract fund amongst the two or more arbitrator accounts corresponding to the two or more arbitrator devices based on the arbitration result.