THE BLOCKCHAIN DISPUTE RESOLUTION LAYER.

INTRODUCTION

Many atimes , it is ver difficult to have a smooth transaction between parties involved in a deal, because due to human nature , imperfection and environmental circumstances around, there might be a bridge of the contract agreement and invaribly leading to a dispute between the parties involved.

Due to this rampant dispute situation attached to transactions, many persons ,individuals , companies , now finds it hard transacting business with one another. With all happiness in me , i would like to bring to your notice the first decentralized blockchain platform which is aimed on resolving disputes or conflicts in business transactions. SO JOIN ME AS I INTRODUCED Kleros.

WHAT IS Kleros?

Just as i said earlier, that disputes are naturally band to happen in most transaction and so these disputes can either be solved amicablely or not depending on the manner of approach.

Kleros is a decentralized blockchain plarform that is built to connect users who need to solve disputes (Dispute Resolution) with jurors (professionals) who have skills to fairly settle them.
Kleros having the people at heart has made it platform such a way that even the very less persons /individuals or small companies have the opportunity to render a complain or dispute( the cost is reduced compare to others).
Let now talk about how Kleros intend to achieve this?🙄

HOW DOES Kleros WORK?

Kleros usesa step-by-step process to achieve it's goal. This can be summarize into few basic steps;

● CONTRACT;
The party create a smart contract and chooses Kleros as thit's arbitrator. The ideal is that, the contract creator choose how many jurors, the outcomes, and the subcourt that will precide over the topic of the contract. An example an insurance contract will select an insurance court, a sales contract will select a sale court, e.t.c

●THE DISPUTE;

After going through the contract , the party then securely send the relevant information to Kleros. Here, the party is rest assured that his information in highly confidential as nothing is going to be disclose to outside observers.

●SELECTION;

Just as it is with the court system, Kleros will form a tribunal from the crowd of jurors (professionals) releated to that particular topic to evaluate , evidence sent, and cast their vote on which of the possible best outcome over rule.
NOTE; jurors are selected base on the amount of token deposited, and if drawn more than once , it increases the number of vote he will get in the dispute and the amount of token he will win or lose during the token re-distribution.

●ENFORCEMENT;

After a decision has been made, the next line of action is to enforce that decision made. The outcome from the jurors after casting their votes, is enforced by the smart contract. This make sure that all due process has been followed and the outcome was a fair one before enforceing such outcome.

PROJECT DESCRIPTION;

● APPEAL;

When a one of the parties involve in the dispute does not seem to be happy with the outcome form the jurors, he or she had the right to appeal and have that same dispute ruled all over again. With an appeal form, possibles errors which may have resulted in a single trial may be ruled out on a second , third , e.t.c. teial.

Drawing/Selection of Jurors:
Users of KLEROS that serves as jurors have the benefit of earning cool cash in the form of arbitration fee. Before a user is chosen as a juror, he must deposit a token called pinakion (PNK). The higher the number of pinakion a user deposits, the higher the probability of him being a juror in the smart contract between the parties. Pinakion serves two functions, it ensures that no malicious party can cause the drawing of jurors to favour a particular party(prevent attackers), and it also ensures that jurors are incentivized to make honest decisions( not been bias), because jurors that make illogical decisions would pay part of the pinakion they deposited to jurors that make logical decisions.
jury selection.

Votes:
The jurors assess the evidence, and then each of them choose one of the three options. The voting system is designed in a way that, when a juror votes, he cannot change his vote, and no other juror see his vote, so no juror is influenced by another juror. When voting is over, the jurors have to reveal the options which they each voted for, and then a KLEROS smart contract verifies that the options match. The votes are then aggregated and then, the smart contract is executed.

Abritration fee;

As jurors in the Kleros, you are been payed a compensation fee for your hard time spent
in resolving disputes between parties as abritration fees. This amount of fee is determined by the subcourt in which you are place.(The abritration smart contract will determine which of the parties will pay the abritration fee).

Incentive System:
We already know that jurors are compensated with arbitration fees after ruling over disputes. Kleros employs an incentive system that ensures honesty and fairness. Kleros does this by making sure that jurors whose vote are not in line with the group loses some tokens which are then redistributed to other group of jurors whose vote are coherent. Thus, honesty is ensured, because no one wants to lose his or her hard earned money.

Resolution Mechansim;

The Kleros resolution mechanism is made up of subcourts which arwe in different categories . When creating a contract, the parties or indidvidual involved is face with different subcourt to choose from. These subcourt has specific arbritration fee attached to them, the number of jurors,the outcomes. This gives individual to opportunity to choose a comfortable one which suit their pocket.🤗

Applications of Kleros :
Escrow
Insurance
Gaming
Social media
Arbitration
Micro Tasking
Social networks, etc.

USE CASE 1;

Sammy and john are friends which always love to play video games. it was so unfortunate that the video game got bad. Sammy took it to a repair shop and the both made a deal and agreement on the cost of fixing it and the time it will take.
So before sammy left the shop, a created a smart contract on Kleros, and did all the necessary steps involved. It reach the time for the to collect the video game, but on getting to the repair shop found out he hasn't done it. Sammy became infurated and dispute broke out. immedately , sammy contacted
Kleros and after a while the issue was resolve with sammy wining back his money .

Sammy was so happy, and thank Kleros all that day for saving him a big time😋.

USE CASE 2

Mr okon is a business who sells electronic ranging from different sizes and grade. Due to his small stature of body, each time a dispute happen between him and his customer, has is always over ride by them. A friend of his told him about Kleros, but he insisted that it will be very expensive since hiring a professional cost so high.
One fateful day, a customer came to his shop to purchase a new television and they both made an agreement. Before the customer left his shop , he created a smart contracton the Kleros platform and Mr okon was surprise that what his friendsaid the other day was true. Sooner or later, Mr okon started using Kleros in every of his transcation he made, and ever since he always get a fair outcome over any disputes.All thanks to Kleros.

CONCLUSION

" We have introduced Kleros, a decentralized court system allowing arbitration of smart contracts by crowdsourced jurors relying on economics incentives".
So why not have a re-think of whatsoever business transcation you do today and always include Kleros to your businesss plan.🤔

A SHORT INTRODUCTION VIDEO;

MEET THE TEAM;

THE ADVISORS;

THE PARTNERS;

This is an originalworks contest . click here for the original sponsor post.

kleros2018