[image was collected from Kleos website]
Presently, technology is changing a whole lot of things on the platform. Things are now very easy and with less effort in handling things that are demanding. We can't talk about interaction without including a dispute. Disputes therefore can be defined as an argument or disagreement or it could also be a failure to agreement. Sometimes, we humans we can handle this effectively, but most times it could be beyond our capacity to handle.
What if we now have a decentralized application that bridges the disputes between two parties respectively? Could it be nice if the winner of an argument could be decided by the two parties arguing?
This is where Kleros comes in, Kleros is a decentralized application that resolves disputes between two individuals. Kleros consists of intelligent jurors, who specializes in different sections that are available to settle this disputes. Unlike the court which could be expensive and time-consuming, with Kleros it's very easy and stress-free for both parties can be protected from a contract that wasn't detailed properly.
With the advent of technology, there is a rising number of small businesses. This also means that there are a growing number of cases where the transaction value is too small to incur the additional costs associated with taking the case to court. While a million dollar loss is worth taking to court, what about a two-hundred dollar deal? In the current state of dispute resolution, there is no cost-effective and fair solution. Freelancing websites often have poor resolution protocols that lead to an unfair assessment by an unqualified individual. In some cases, there is simply no resolution protocol at all, leaving one of the parties with a complete loss. As the number of individuals offering services continues to grow, this problem will only get worse.
For more information please watch this video below;
Visit their website and social media handle for more information
Kleros website
kleros2018
My twitter submission
https://twitter.com/
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