People have been involved in disputes since ancient times, and so it was, as I believe, will always be. And people start to argue from early childhood, at first it can be a dispute because of a toy or a candy. With the growing of the person, the price of the subject of the dispute increases. And the higher the price of the dispute, the more they are interested in an honest and most importantly objective examination of their dispute, so that in the resolution of the dispute there is only unbiased refereeing. Exactly this problem decided to solve team of Kleros project.
The project is designed to solve the problem of the dispute and after an objective assessment of the arguments of the parties to ensure the making of a fair decision and it's execution. At the same time, the issue of choosing the persons competent in the dispute under consideration - the jury, which should be objective at the same time - is also decided, and the consent itself is given for participation in the circulation.
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Also how Kleros works you can see in video bellow
Also the choice of the jury should be transparent,that are responsible for the blockchain technology. Where key role plays so called Pinakoin (PNK) which should protect system from sybil attack and provides jurors the incentive to vote honestly.
More details about Pinakoin you can know from video of cryptographic researcher William George
If one of the participants in the dispute is not happy with the decision, then he can appeal. In this case, in the case of an appellate process, the number of jury members will be doubled +1. Only in this case the amount of payment will be increased by an amount equal to the difference between the new amount of the fee for jury participation minus the previously paid amount.
And if the previous decision is appealed, then the reward will not be paid, but the jury members of the previous court will have to justify making their decision, to this they are stimulated by payments, details here.Thanks to this, objective decision-making is ensured.
To ensure fair decision-making, the team of the project has a whole algorithm of judging.
First of all, the initiator of the dispute enters into a contract and elects Kleros as a protocol for issuing an arbitration award.
In case of occurrence of a disputable situation, the corresponding information in encrypted form is sent to Kleros.
People can more confidently conclude contracts and sleep peacefully, knowing that their interests are protected, and in case of a dispute, it will be objectively settled. At the same time, the interested persons will not lose their means through the fault of the customer or the dishonest performer.
Thanks to the creation of such, I'd like to say, an ideal environment for resolving disputes, the project of Kleros is able to return people not only faith in objective refereeing, but also save a lot of energy, time, money and nerves.
This approach is suitable as for small businesses, and for large companies.
For companies engaged in trade, transfer of goods, and Internet sites like Amazon, AliExpress, eBay a s.o. the use of the Kleros project in the event of a dispute with the client, or if the dishonest producer has sold the product through the Internet platform, or the goods were stolen and damaged during shipment by third parties, should shorten the time of the dispute.
And in the event of unforeseen circumstances, return the money to the buyer considering that they are blocked by a smart-contract.
So Kleros project can be used in different spaces. It can be even jut a simple moment when the customer wants to repair his apartments.
And hires a performer in the network, through the orders come.
At the same time, they can conclude a contract on the site Kleros.
Then the customer can safely go on vacation, and after returning and having examined the result of the performed work, he can pay for it
or
start a dispute on the site where the jurors will issue a verdict as far as the performed repair meets the task, and in case of poorly executed work to force the master to change everything!
The information contained within this post shall not be taken as financial advice. I am not an advisor and none of your investing should be carried out based on any information presented here. The above information is for educational and entertainment purposes only.
This article is my entry for @OriginalWorks sponsored writing contest! More details you can find here
All images excepring the last part were derived from whitepaper. Images from last part were taken from Yandex.ru
More information about Kleros you can find at:
