Introduction

The advent of blockchain has brought about a whole lot of revolution in our day to day activities. Nowadays, the idea of decentralization is been welcomed and embraced by a large number of people. This means that the number of small businesses coming up keeps increasing as the day goes by. I mean, we have decentralized peer to peer freelancing platforms, where users meet up to exchange time and services in a peer to peer manner.

While the increase in the number of small business is a welcomed development, users of these small business are however faced with a great hurdle when dispute arises. I mean, I can hire a user on a peer to peer freelancing platform to design a website for me, for a price of 250$. However, in the case where I am not satisfied with the website designed for me, I basically cannot do anything, since it would be more additional cost for me to take a 250$ worth case to the court of law.

How does this work

As it is summerized by the above illustration from the official website of kleros, the users of Kleros will create a smart contract and choose Kleros as their adjudication protocol. Every part will send the relevant information or the criteria to be followed in a contrat.

So when a dispute araises, jurors based on the evidences from both side they will evaluate the dispute then cast their vote.

Uniqueness of kleros

Out there are other dispute arbitration ways but what makes Kleros unique is that it resolves disputes of every kind of contract in a fast, affordable, reliable and decentralized way.

Changes in business and individual disputes arbitration

Disputes in businesses or interpersonal are the things we are used to, but are we always satisfied with the arbitration? If you're satisfied, can you always afford it?

So these are the changes that Kleros is bringing, transparent court that is reliable, decentralized and affordable.
These are the changes everyone can wish to have in disputes resolution.

Some disputes to be resolved by Kleros

1. Arbitration in freelancing companies: These companies face a lot of disputes. For example you go on the freelancing website and you hire someone to make for you a logo, and that person is not skillful enough to make a logo of your choice as he claimed to be. So here Kleros will resolve such disputes.

2. E-commerce: If you have been buying or selling products online, you know the types of disputes I mean here. Kleros is a decentralized affordable solution for this problem.

3. Online gaming: Professional online gamers need professional jurors to solve the possible disputes, Kleros.

4. Decentralized social medias disputes: for example your comment on someone's post and your comment broke terms and conditions so Kleros can resolve this by reputation reduction after evidence evaluation.

Privacy

In the case where disputes arises in the discharge of the smart contract, both TotoPaul and BlorkosPeter may be required to share private information with the jurors. To prevent outsiders from gaining access to this information, the language of the contracts and the voting options of the jurors are not made available on the blockchain. This is to ensure privacy.

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 TotoPaul and BlorkosPeter. Pinakion serves two functions, it ensures that no malicious party can cause the drawing of jurors to favour a particular party, and it also ensures that jurors are incentivized to make honest decisions, because jurors that make illogical decisions would pay part of the pinakion they deposited to jurors that make logical decisions.

A dispute occurs between TotoPaul and BlorkosPeter, due to the fact that TotoPaul is not satisfied with the website which BlorkosPeter builds for him. So the jurors have to vote and make a decision.

Benefits for small business

It is usually hard for small businesses to employee lawyers or to pay court fees.

So while using Kleros, small businesses will profit the skillful jurors to resolve the disputes between them and their customers or among their customers at inexpensive price.

Benefits of Kleros to larger corporations

Larger corporations deal with a lot of disputes, many of the disputes are among their customers. Let's take an example of Ali express, buyers and sellers may have disputes that the company itself try hard to avoid, so many of these disputes can be resolved directly by Kleros (skillful jurors) without waiting so long.

So Kleros will save larger corporations' time that they waste in disputes resolution.

KLEROS Team

Conclusion

From the use case which we analyzed between TotoPaul and BlorkosPeter, we have seen that KLEROS works in an effective and efficient way. Small business get to benefit from KLEROS, since they now have a platform that can handle any dispute that may arise in their small transaction cases. Large corporations are not left out, as KLEROS can also effectively and efficiently manage all disputes that may arise at a low cost. Hence, everyone should thrive and integrate KLEROS into their business.

For more info and resources about Kleros, you can find Kleros on

https://www.kleros.io/

KLEROSPartners

KLEROS Advisors

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