What do you think about founding a (or better more than one) Bitcoin Arbitration Court?

- An arbitration court is easy to incorporate (as a non-profit foundation) and you won't need a license to operate an arbitration court

- Thanks to the New York Convention (The Convention on the Recognition and Enforcement of Foreign Arbitral Awards) arbitral awards are recognized and enforceable in 146 countries.

- Arbitration courts are independent from any national legislation

International arbitration is an increasingly popular means of alternative dispute resolution for cross-border commercial transactions. The primary advantage of international arbitration over court litigation is enforceability: an international arbitration award is enforceable in most countries in the world. Other advantages of international arbitration include the ability to select a neutral forum to resolve disputes, that arbitration awards are final and not ordinarily subject to appeal, the ability to choose flexible procedures for the arbitration, and confidentiality.
http://en.wikipedia.org/wiki/Convention_on_the_Recognition_and_Enforcement_of_Foreign_Arbitral_Awards

It would be a more secure and legal alternative to escrow (where a third party holds funds) and can be perfectly used for 2of3 multsig transactions.