You’ve never thought you’d see justice on blockchain? Neither have we. But, it’s here, and it’s transparent, clear, and it makes a lot of sense. So, if you’re considering stepping into the world of cryptocurrencies, this interesting new platform just might inspire you to take the first step.
The systems our government has created to resolve contract disputes are costly, slow, complex, and are becoming more and more inefficient. That means that contractual disputes take a lot of time, a lot of resources, and the resolution might not always be just.
That’s why JUR stepped in with a new solution that’s built to be simple, user-friendly, affordable, and efficient. For the first time ever, there’s a platform offering justice as a service. It’s using blockchain to deliver justice to the global community as quickly and as cheaply as possible.
JUR is a new blockchain-based platform that uses the blockchain as a channel for delivering justice swiftly and inexpensively.
Their goal is to create a new era of trust in business relationships by using game theory and the wisdom of the crowd.
Current resolution systems are slow and costly. JUR is a platform that focuses on its qualified legal community for dispute resolutions.
Each resolution is executed by the voters who select solution proposals. Those who choose the majority proposal receive tokens, while those who choose the losing proposal forfeit tokens.
That way, the community gets rewards for fair decisions, while the platform discourages unfair votes.
A contractual dispute that goes to arbitration usually takes longer than six months to resolve. Additionally, it costs more than 50% of the contracted amount. And although normal at the moment, that’s simply too much.
Imagine if you were in that position – regardless on which side of a dispute you are. Firstly, six months is a long time to wait for a resolution. Secondly, the cost is definitely too high. That’s why most parties give up.
Well, JUR recognized this issue and found a way to resolve it. With their qualified legal community, they can ensure dispute resolution within 24 hours. Moreover, they can do it at almost no cost to the contracted parties.
That means that this platform can potentially lower costs on a global scale by reducing the legal and administrative overhead.
*Oracles groups – a qualified legal community
*Dispute resolution voting web interface – consensus-based voting with strong anti-bias principles
*Smart legal agreement builder
*Smart legal agreement injector
*Smart legal agreement marketplace
Funds, companies, legal experts and individuals can all benefit from this new system. For instance, when a fund invests, it can set a series of milestones which, when met, prompt a payout. However, the two sides won’t always agree if these conditions were effectively met. That’s where JUR steps in, as it is a dispute resolution system that can solve these problems.
It is also a great way for companies, entrepreneurs, and freelancers to decrease their legal expenses, as it offers a long list of legal agreement options.
Users of JUR get to manage three free agreements per month. If you need more, you need to purchase JUR tokens and pay for additional agreements.
You can also use JUR tokens for Smart Legal Agreement Templates that you can buy via the JUR Marketplace.
JUR jurors receive tokens for their votes, and can then use or exchange them as they please.
At the helm of this interesting new platform are three men who perfectly complement each other’s skills in this field. The CEO is a lawyer with a Ph.D. and a vast experience in FinTech startups – Alessandro Palombo. The other two co-founders are Filippo Schiano di Pepe – an expert in structural architecture, design, and providing Internet-based solutions, and Giotto de Filippo – a developer with a legal background who’s known for advising ICO projects.
Simple use, a qualified team, and a clear idea are all necessary for a good blockchain-based platform. Luckily, JUR ticks all three boxes. Since this platform offers unique selling points, we believe it’s definitely worth looking into.