Kleros: Providing Solutions for Online Disputes

kmelvin256 (56)in #contest • 6 years ago (edited)

Online disputes are hard to handle. You may lose money, respect, and on the business side, customers. It is hard since you don't want to be tricked and you don't want to have your customers feel that they had been tricked. From a simple rise of product prices upon payment due to crypto inflation, to a degree of product return due to carrier mishandling or defective product can be a start of a bad vibe between you and your customer.

If we are talking a small lost of profit, let's say $10 or less, then we can simply settle this. But having to settle $50-$100 loss on profit can be quite tricky since a lawyer would probably cost more than the damage done on both party. Good thing we can have a third party to get opinions from. Let me introduce you to an opt-in dispute resolution platform called Kleros.

Kleros is designed to settle dispute by having online jurors via smart contract. Both parties would select the number of jurors, Category of the contract, and the settlement or outcome. These jurors are third party professionals in various fields. They would be the one to decide who is right via majority vote based on the different outcomes and options both parties give them. Think of it as how a court using Jury as their basis. The more people vote on one option as they think is right, the more the outcome will be decided.

This is an example flowchart for a dispute.

The jurors would receive PNK token + Eth if the vote they gave had been in the majority option. Those who did not join the majority would still get Eth but will lose PNK token. We can say that these tokens are how we can measure the reputation of the Jury. The more token the person has, the better reputation he has.

According to Kleros, the more token you have, the more disputes you are allowed to settle. This gives you an insight on how secured the Jurors are since you will be only given the best.

Conclusion:

The project will surely help those who are having issues deciding who is right. They may be cases as small as a price dispute and as big a those in real cases. Either way this will be a good (and cheaper) second opinion than going directly to a lawyer, court or police, specially online contracts wherein parties may be both on the other side of the world. I am looking forward on what this project will entail in the future.