Any economic health of a community is largely dependent upon its legal and bureaucratic system’s efficiency. If, during the course of an agreement, a dispute arises, relevant parties first seek out to discuss the matter. If no viable solution is found, they then turn toward their legal system. The steps are long and time consuming. A legal notice is served first, then it might get escalated to a case in the court. The cases may take weeks, sometimes even years to get resolved.
All of this means a lot of time and money is invested in the dispute. Hiring lawyers, cost of facing courts etc. etc.
JUR: Consensus Based Dispute Resolution
JUR is a decentralized platform dedicated to dispute resolution that uses game theory as its basis. The platform uses blockchain based smart contracts to provide immutable oracles that deliver fair and quick justice to close disputes at a near zero cost.
The platform consists of two layers of dispute resolution, each designed with specific dispute environments in mind:
On chain Layer
This is a flexible decentralized dispute resolution layer that can be used by thousands of different types of agreements and disputes online. It consists of three type of smart contracts:
Off Chain Layer
The JUR platform also allows contracts to be made off chain and executed when and as required. This also means a contract template can be made, which can be fine-tuned to each agreement before execution:
Using blockchain and its associated Smart Contract technology, JUR creates and environment where individuals and parties can set up contracts that are legally compliant, and yet do not go through any of the clutter and cumbersome processes the current system is plagued by. The disputes raised through the platform are addressed with swiftness. Since the disagreements are looked over by Oracles, people who have staked a lot of money, the decision is done through a voting mechanism that guarantees fairness.
The JUR platform is powered by their native ERC20 standard JUR token. With a total supply of 1 billion, the upcoming ICO will see 400 million tokens up for investors. The company has already achieved private investments that have funded it to start its work and development of its MVP. The MVP is expected to be released around the time of the final ICO.
Interested parties can visit the platform and register on the whitelist for early access to the ICO. Potential investors are advised to make their own financial decisions and account for risks before investing in any venture.
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