KLEROS (Dispute Solver)

What is Kleros?

As our author (@OriginalWorks) said “Kleros is an opt-in dispute resolution platform. It’s also a network of jurors specializing in various categories who are available to settle disputes.

Someone may ask ‘what is Dispute?’

Dispute means disagreement, saying “No” to something or an argument between two individuals or between two companies……. Now, Kleros comes in to settle the dispute (disagreement, argument) between the two parties.

How will Kleros change the way individuals and businesses deal with disputes?

In this our 21st century, disputes (disagreement, argument) are sometimes solved with fighting, bloodshed, loss of lives or even a third party involved which may lead to lot of money wasted and commitment to decisions may be weak. There must be a better way to deal with disputes. And there is! Because with the help of Kleros dispute (disagreement, argument) are going to be solved in a cool way without the third party even knowing. (third party I mean here maybe law court)

What are some types of disputes that can be resolved through Kleros?

The types of disputes that can be resolved through Kleros are: -

• Family disputes (Divorce or Separation, Parents or Teen,
• Civil Rights disputes
• Business disputes (Both large scale and small-scale business)
• Payment disputes (Between two individuals)
• Etc.
  How can Kleros help reduce the costs associated with dispute resolution?

“Each party pays his or her own attorney fees related to litigation, unless there is a specific contract or statutory provision allowing one party to recover costs and fees, generally.

But what about court costs, such as the filing fees?

In state court, the filing fees are, ranging from $200 to $400 depending on the county and number of defendants being sued. The winner at trial in state court gets her court costs paid by the other party but again, the amount of money is not significant, because the County picks up the cost of paying the judge and her staff.”
Source: pittsburgh-litigation-lawyer.com/costs-of-dispute-resolution
But with Kleros the judges settle dispute at lower rates below $300 or less.

How can Kleros benefit small businesses?

It can benefit small businesses greatly because if you look at how it helps reduce the costs associated with dispute resolution in a whole you’ll know small scale business will benefit also.

How can Kleros benefit large corporations who deal with many disputes?
Case Study “Amazon”

At first Kleros have to state these to large corporations…….
- Listen to your customers and make sure you respond to their complaint quickly and efficiently
-Ensure that all your staff are trained on how to manage complaints and problems, and that they can openly discuss any issues with their manager
-Don’t ignore complaints or make the mistake of thinking they might disappear. If disputes cannot be resolved through informal discussions, consider using mediation through a third party
-Document all conversations and correspondence.
-Remember that your reputation is everything, and that you never get a second chance to make a good impression

Now, if you check out court costs, such as the filing fees Amazon will run dry because if they get like 20 disputes a week, files them in a court and the court filing fees are from let me use this figure $400 depending on the number of defendants being sued, lets calculate, the 20 disputes been filed multiply by $400 it will be $8,000. That is Amazon has used $8,000 only to solve dispute and protect their name. But if Amazon wise up and file the 20 disputes in Kleros and the filing fees are $100, lets calculate again, the 20 disputes been filed in Kleros multiplied by $100 it will be $2,000 (difference of $6,000) Amazon will be benefiting greatly and will be filing dispute themselves because they know Kleros got their back. 😉

How does Kleros ensure fairness through its incentivization system?

“Incentivisation or Incentivization is the practice of building incentives into an arrangement or system in order to motivate the actors within it.
Without incentivisation, systems can be counter-productive.
A simple example of negative incentivisation would be taxing people at 98% on all investment income, which happened in the UK in the 1970s (for the extremely rich).

This level of taxation gives individuals an incentive not to invest.

This has the effects that:

1. People might stop investing
2. Taxes might stop being paid (due to people no longer investing)
3. The economy might behave poorly (due to lack of investment)”
   Source: Wikipedia

Kleros have to maintain its state of inventiveness’ both for the rich and poor, its tax has to be moderate (ranging from 50% - 60%) on all investment income
(#Keros……My Cousin wanted to pronounce it and was like “leros” he also said the “K” was silent and I told him he got it all wrong, even me don’t know how to pronounce it so I told him “lets use the nickname Dispute Solver” 😉 Its Cool Right??

Kleros2018

https://steemit.com/crypto/@originalworks/940-steem-sponsored-writing-contest-kleros

https://kleros.io/