Meet Kleros and his Fantastic Project
Kleros is a dispute resolution platform where you and other disputants can assist in resolving a specific problem, which is supported by experts in the field. It is supported by intelligent contract technology which makes any dispute more transparent.
Another definition of kleros is
Kleros is an optional dispute resolution platform. Kleros is a network of juries specializing in various categories who are available to resolve disputes. By using smart contracts, Kleros can deposit the funds in question until the selected jurors issue a resolution.
The award is expensive and time consuming. With Kleros, both parties can be protected in the event of a breach of contract.
The current status of dispute resolution
Currently there are countless cases where there are thousands of companies in disputes with others over different legal procedures, which can reach the courts and take years to resolve, creating long administrative procedures and incurring high legal costs, Kleros seeks to reduce these costs by creating a transparent platform dedicated to resolving these problems.
Resolution mechanism
after signing an intelligent contract where both parties agree to comply with the agreement, both parties will select.
Number of juries
Contract category
Results
By choosing the most relevant sub-forum, you can rest easy knowing that if a dispute arises, you will be treated by knowledgeable people in space.
In the event of a dispute, jurors will receive a number of possible outcomes to choose from. The options are stipulated by the contracting parties in advance.
Kleros is launching a pilot plan or platform to test its operation, Doges on trial
the incentive system seeks to encourage jurors to participate in the project regardless of the cost of the case they are trying, i.e. if for example you are handling a case as a judge for a $100 dollar dispute, and your salary is $2,500 you will not stop earning your salary no matter how small the case may be and you will still get your full bonus.
in the same way we can say that it will also be governed by the following system.
The jury system can also deduct good juries from poor juries based on the consistency of their votes.
For example, if there are five jurors, with result options "A" and "B". If four choose "A" and one choose "B", option "A" will win. In this case, the only judge who voted "B" will be deemed to have voted inconsistently. Although a dispute is not very revealing, if a judge rules inconsistently 90% of the time in more than 100 cases, it is clear that they are a deficient judge and would lose tokens.
Kleros Use Covers
if you are a self-employed entrepreneur and you agree to a fee of $1,000 with a client for one month's registration and payment of taxes and both parties agree to pay in two parts 50% at the beginning and 50% at the end of the work.
After the job is done, you deliver it and try to collect the remaining 50% without success.
What can be done there? because the client refuses to pay the professional fees when the work is finished.
you can make the decision to go to small claims court and spend a long time in the dispute over the money and the recognition of the work done, or simply be hired by Kleros, the same would serve as an impartial arbitrator in the dispute where you would not only save time and costs that would involve all the legal paperwork, You would have trained judges and a transparent platform in the resolution of the litigation, the same would be solved with the intelligent contract that would be signed at the beginning of the work, in this way kleros would impact in the society making easier not only the contracts of work but any dispute and even any financial transaction serving as legal and financial mediator for both parts.
Additionally it is a product that has tokens for sale for you to participate in this project, if you want inventi just enter their website and you can not only be part of the team kleos, but you will have additional tokens.
if you want to know more about this fantastic project that will change the world you can visit their website
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So we have a type of free market arbitration here then? I like it if that's what it is.