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RE: LeoThread 2025-03-04 07:33

in LeoFinance7 months ago

Part 2/9:

Claro's simplifies the process of dispute resolution by utilizing blockchain technology to manage contracts and ensure impartiality through crowd-sourced adjudication. In typical scenarios involving two parties—such as Alice, a small business owner, and Bob, a freelancer—when disputes arise, instead of relying on traditional contractual enforcement, they can opt for Claro's. Alice puts payment into an escrow managed by a smart contract. Should a conflict arise, a group of randomly selected users acts as jurors to make a decision based on game theory principles, particularly the concept known as a "Schelling point." This idea, formulated by economist Thomas Schelling, posits that in situations devoid of communication, individuals will tend to gravitate towards solutions perceived as natural or obvious.