The Judicial System Of The Future - Kleros.
Coming from a country where the judicial system is pretty bad, so many get behind bars for some flimsy crimes, not to talk of big end crimes that goes unnoticed and never got caught. The innocent languish in regret for not having a court or system that can help the less privileged.
This also goes to small business owners, many have been disappointed with big contract companies but aren't able to sue them to court when neccesary, the implications are closure of small scale enterprises, this loopholes has been exploited severally by big companies to chase out small scale or upcoming enterprise out of the market, if there can just be a system good and strong enough to take care of this powerless entrepreneurs, the economy and the society will be balanced.
Kleros is the world first blockchain based court system with built-in option for every parties ready to trade contract with each other, it aims to protect each side while delivering the best service in such a fast way and eliminating huge cost on each sides.
Kleros as earlier said is a court, while Kleros is the arbitrary court, each parties have been given options already on the outcome of there contract in case of a fallout from any side. They can also choose the number of judges they want.
Each juror has to deposit some token to increase there chance of been selected, the more token in the deposit of a juror the more he gets careful in accessing a case brought to him, Kleros has made it in a way that when a juror vote against a case while his fellow juror are mainly for it, he tends to loose some tokens. This removes abuse and spamming from the system.
Pinakoin is the mode of payment of Kleros, this is staked by a juror when taken a case, a juror might loose this when his votes aren't in par with the case. The looser in the smart contract also pays some arbitrary fees which is distributed among the right vote juror.
Kleros offers appealing in court in case the verdict didn't suit the contract creator. This enables transparency in the system and aim to boost confidence in Kleros.
- Users of Kleros has there privacy secured in each contract transactions, when opening a contract there is an hash word given and been used by each creator of contract which keeps there privacy secured.
- With the launch of Kleros, it serves as the best escrow services so far as it secure the two parties involved in exchanges.
- With Kleros mode of operation, it offers premium channel to insurance companies, when an insurance company default in payment, Kleros can be called upon with mode of payment and transactions tendered.
- Kleros offers the best affordable court system, it is also fast and easy to access with options to choose from.
To big bussiness owners Kleros offers them a chance to settle case in a more easier way by cutting the cost of court proceedings and case adjourning.
Big company like Google, EBay and the likes can protect themselves and there customers against breach of agreement and contract where each transaction made tendered in Kleros' court.
Small business can also access it's service because it's very cheap now to get a lawyer and a judge to sit on there case in a more convenient way.
Kleros Website
Kleros WhitePaper
Kleros Medium
Kleros YouTube
Kleros Telegram
Kleros Twitter
Kleros Github
Kleros Forums
All pictures were sourced from Kleros White paper
Kleros2018
This is my entry into @originalworks contest
https://twitter.com/tenibolade/status/1031890493771317248?s=20
klerostwitter
You have a minor misspelling in the following sentence:
It should be necessary instead of neccesary.