Kleros PNK ICO: Decentralized Transparent Justice System?

masud1 (44)in #crypto • 6 years ago (edited)

Introduction

Since the world is world, there are differences and nonconformities, as human beings we have a series of specific characteristics that define the personality, hence the preference for colors, characters, activities, way of working, among many others; Taking into account that good communication is the basis of any relationship, it is important to emphasize that when doing business and reaching agreements this plays a very important role that in turn triggers conflicts and disagreements in daily life, some stronger than others.
When a problem arises it is necessary to find a solution, for that there are the adjudicative processes, such as litigation or arbitration, where a judge, jury or arbitrator determines the result of the disputes that are presented before their services, in addition, the consensual processes, such as collaborative laws, mediation, conciliation, or negotiation, where there are attempts by the parties to achieve agreement and solutions to the problems presented.

At present there is a lot of business movement not only in the secular but also in the digital world, from large companies to individual traders make use of technology to link at a global level, this is positive until the disagreements and / or complaints come operational, technical or compliance reasons leaving gaps in the resolution of conflicts since they can not be managed by existing methods, generating millions in losses to investors.

According to the above and in order to find a solution for the global, digital and decentralized economy in an objective, safe, fast and efficient way to ensure the success of the resolutions, Messrs. Federico Ast, Clement Lesaege and Nicolas Wagner together a great team of workers created KLEROS.

What is Kleros?

Dispute can easily crop out from anything, and a dispute can be big or small depending on the situation. Though small dispute can be settled by having a serious conversation big disputes are usually settled in court.

When a dispute reaches the court it became a long, tiring process. Not to mention it can be very expensive. That is why most people even lawyers and judges themselves prefer disputes to be settled out of court. Unfortunately, it rarely happened especially for sensational cases.

Fortunately, this outdated way of solving disputes will soon come to pass with the advent of Kleros.

Kleros is a decentralized way of arbitrating disputes. A platform with cutting-edge technology built specifically to resolve dispute faster, fairer, cheaper and more secure. All of this thanks to the power of the blockchain and of smart contracts.

How Kleros Work

Kleros just like the modern court uses the juror system to arbitrate disputes. But unlike the juror system of the traditional court, Kleros is more advance, and uses an incentive system that penalized and weed out incoherent jurors—thus it makes judging cases more accurate, not to mention a lot faster.

Jurors uses votes to decide a case, therefore it is imperative that the jurors votes correctly. Thus is where Kleros's advance incentive system comes in. That's because if a juror is incoherent and vote wrongly he or she would lose tokens, while those who vote correctly will be rewarded by more tokens.

Decision making with Kleros

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Decision making with Kleros
All people who wish to Kleros as a tool for resolving their disputes should go through the stages of the process:

The contract
Providing the Evidence:
Selection of the jury
Analysis
Voting
Appeal
Redistribution of tokens

Analysis

Source
Jurors receive access to evidence. Each one will have to analyze it and give its verdict. Each sub-section has different parameters regarding the procedure for making decisions and different times to make the decision. The conditions will vary depending on the complexity of the voting options and the possibility of communicating with the parties.

Appeal

If a party is not satisfied with the decision, it will always have the possibility to appeal. Sentences can be appealed infinitely in theory, the reality is that decisions will be appealed until economic possibilities make it possible. In each round a new court with twice as many juries plus one that in the previous round is set to re-evaluate the case. The appealing party will have to pay the appeal. If you lose again, you can appeal again, always taking charge of the costs of the process.

Use-case

Thomas is wanted to order a new mining rig for a certain cryptocurrency. He searched the internet hoping to find an affordable rig. Finally, he found what he is looking for and quickly contacts the company. But before he settles the order he asked the company to use a smart contracts.

The company didn't think much of it and agreed. So Thomas approaced Kleros because he have heard a lot of good thing about them. He then requested a smart contract for the transaction he is making. After settling the smart contract, Thomas ordered the mining rig and was told that his order will arrive in a week. Thomas didn't mind and waited patiently.

Days passed but the mining rig didn't arrives but since the one week quota isn't over yet he decided to wait. Unfortunately, he waited for nothing as one week passed and he still did not received his order. Upset, he contacted the company and was told that they are experiencing some sort of "technical difficulty" and his order will have to wait a little longer.

Thomas did not buy it and told them that they have a contract but recieved the same response. Angered by their nonchalant attitude, Thomas approached Kleros again and asked for an arbitration, which Kleros quickly respond.

A group of jurors specializing in such case was quickly formed. They then contacted the company and a trial was held. With the help of the smart contract, the jurors vote in favor of Thomas with non voting otherwise. They then ordered the company to settle their responsibility with Thomas—forcing the company to refund his money and pay another compensation for the breach of contract.

Conclusion

Kleros is a general and multipurpose system that can be used in a large number of situations generating effective solutions that allow both people and companies to have a stability and tranquility in the operations they perform as well as decentralized judicial system through the arbitration of intelligent contracts supported by jury teams that are dependent on economic incentives, also significantly impacts social networks. Insurance, Micro-insurance, Escrow and others; Preventing by its high potential the unwanted mail, the scams, compensation in the event of an event, among other benefits.