Introduction
There is no doubt that advances in blockchain technology are advancing by leaps and bounds in every part of our lives, to a greater or lesser extent. But what would happen if there was a way to resolve disputes through the chain of blocks? How will this decentralized justice be applied? Who will act as jurors? What protocol to use? Well, I tell you that there is no more waiting, I present to Kleros the protocol of justice for the decentralized era.
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What is Kleros?
Kleros is a decentralized platform built on Ethereum. This application works as a decentralized system of justice that arbitrates disputes in all types of contracts, from simple to complex.
Kleros offers results quickly, economically, reliably and decentralized. It provides a network of specialized juries in various categories that are available to resolve disputes, through the use of intelligent contracts.
Kleros uses a protocol token called Pinakion (PNK), owes its name to a bronze plaque that was used to select juries in the popular trials of ancient Athens. Click here to understand more about the token
What are some types of disputes that can be resolved through Kleros?
The types of disputes that can be resolved through Kleros are: -
- Family disputes (Divorce or Separation, Parents or Teen,
- Civil Rights disputes
- Business disputes (Both large scale and small-scale business)
- Payment disputes (Between two individuals)
- Etc.
How can Kleros help reduce the costs associated with dispute resolution?
“Each party pays his or her own attorney fees related to litigation, unless there is a specific contract or statutory provision allowing one party to recover costs and fees, generally.
How can this benefit small businesses?
Some small companies for not being recognized may not give their legal problems much importance or simply do not take them seriously, let's say a situation: a small company hires someone to do a remodeling in their business and this person does not comply With what was promised and in the stipulated time, Kleros takes this case with his system of intelligent contracts, only one part is given to the worker who did not complete his work, which was his advance payment, Kleros saves the rest, seeing the breach of the contract both parties, the contractor and the contracted must pay a certain commission for the trial that will be carried out with specialists, at the end, the winner of the trial will take the rest of the money and the judges will have the commission that both paid, Kleros helps everyone who needs help.
How can Kleros benefit large corporations that handle many disputes?
Kleros having several people working for him, can manage several simultaneous disputes, say as an example eBay, eBay has a problem with a client and hire Kleros for the resolution of disputes, but another problem appears with another client, without any problem Can Kleros take care of that, has several specialists to control the problem and does not get out of hand.
How does Kleros guarantee equity through its incentive system?
Kleros says that his incentive system allows the resolution of cases at low cost, juries receive payment fairly to continue doing a good job. The innovative thing about this system is that it selects the best juries as the system develops. For example, if there are five juries, with "A" and "B" result options. If four choose "A" and choose "B", option "A" will win. In this case, the only judge who voted "B" will be considered incoherent. Although a dispute is not very revealing, if a judge governs incoherently 90% of the time in more than 100 cases, it is clear that they are a poor judge and would lose tokens.
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Source
What are some good use cases?
It would be easier to say what are some bad use cases, NONE, Kleros has a fairly fair system, and do not believe that the judges always win, suppose that there are 5 judges in the debate, and this option A and option B, 4 of them chose option A and only one of them chose option B, because it is not coherent and the only one to choose a bad decision, you will be desecrited money from the profits, so you have to make a wise decision about the problems.
Conclusion
Escrow system, crowd-sourced jurors and incentive system formed the foundation of Kleros and the platform will not be feasible if any of the three is missing. Overall, I think Kleros is an interesting project to watch. As they are trying to solve real-world problems and bring value to the economy as a whole. Thanks for reading and let me know what you think!
The team
More information
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