he recent growth in blockchain usage has substantially affected the number of transactions executed via smart contracts. In parallel, the number of transactions will likely increase the number of disputes that arise from these smart transactions. Some innovative arbitration platforms have emerged in response to the urgent need for a tailor-made dispute resolution mechanism. These platforms tend to promote the anonymity of arbitrators because of their decentralized nature and secured proceedings. Does the anonymity of arbitrators’ identities and skills increase the transparency in smart contract arbitration? And to what extent can the anonymity of arbitrators be sacrificed for more transparent proceedings? These are vital questions because anonymity contradicts the rules of traditional arbitration. As a promising dispute resolution method, smart contract arbitration should untangle such a transparency issue. However, unveiling these data may radically endanger blockchain’s decentralized and anonymous nature. Therefore, a trade-off emerges between transparency and anonymity. This paper is the first to analyze this trade-off comprehensively. The analysis is twofold. First, it considers the role of anonymity in traditional arbitration. Second, it examines smart contract arbitration and the requirements of being an on-chain dispute resolution mechanism. Moreover, to clarify anonymity issues in smart contract arbitration, the paper also delves into the peer review process because of (i) its similarity regarding the anonymity of parties and (ii) the reviewers’ qualification-based selection process by editors.