INTRODUCTION

Everyday of our lives, we go into one kind of agreement or another, often times with people we know and most times with people we have no idea that they ever existed prior to the time of agreement, the fact still remains that we can not expect everyone to behave in the same way, human being are basically willful entities and have tendencies for behavioral changes and mood swings, the challenge comes when people decide not to fulfill the terms and condition of any agreement, because they feel they can get away with it.

Traditionally, we have the Legislative system, which have been incorporated in most world economies as one of the major arms of the government to ensure law and order, inclusively lawyers and judges preside over disputes in this law courts.

Blockchain technology created a whole new world and a new way to look at thing, with blockchain technology, decentralization is the way forward, where the power lies with the community, and governance is decentralized.

Decentralization of the jury system is needed to ensure that the judges are accurate in disposition and disputes are resolved effectively, in a faster and more secure means.

A structure where the ruling is placed in the hands of anonymous users who have nothing to win or loose as long as that particular case is concerned and only have economic incentives to gain for participating in the judgement proceedings, and when found incoherent, loose money.

INTRODUCING Kleros

Kleros is a platform that offers third-party arbitration for all kinds of disputes between contractors of all types, Kleros will enforce a new way of dealing with disputes as many people will utilize the Kleros platform as a trusted means of contracting and agreements, which ensures that both parties keep up to their bargains and code of agreement as stated in the Contract or face the jurors who will decide who is right and wrong based on well-illustrated evidence structure and contractual agreements.

Some of the types of disputes that can be resolves by Kleros
Includes but is not limited to : contractual disputes between two or more individuals, companies, bodies, Smart contracts between a body and clients, etc.. ranging from the most simplex of them to the extreme complex of agreements, in all sectors of the economy, for instance:

Kleros will effectively reduce costs associated with dispute resolutions by ensuring that disputes are resolved in a fast, secure, most effective and efficient way possible, by incorporating a point system to jurors for speedy presiding of cases, and a time-based voting system, to help flush out incoherent jurors.

USE- CASE

Bella is a start-up fashion designer who designed a clothing apparel and placed an advert online for customers, Amara saw the advert and ordered for a particular design.

Bella made the designs and delivered to Amara, who refused to pay Bella because she claims that it was not as they agreed upon, Bella, as a start-up still struggling to survive in the industry and is unable to pay for a full court ruling against Amara, hears about Kleros from Chinedu her friends, and adds Kleros as third-party arbitration platform for their agreement.

She sends every details of the transaction and agreement to Kleros and the Jury rules that Bella should Amend the designs within one week. In three days, she amends the designs and sends to Amara who then sends the complete money to Bella and arbitration fees are subtracted, everyone goes home happy!

The incentivization system introduced by Kleros ensures fairness of judgement as the Shelling Point system and other algorithms is put in place to ensure that no manipulation of jury selection would be possible and that incoherent jurors would be punished by loosing their economic values in the ecosystem.

Finally, Kleros would benefit both big businesses and start-ups by reducing the costs of disputes resolution, opening more opportunities for innovations, allowing for better guarantee and/or warranty of services, ensuring security of funds and effective use, etc.

THE TEAM

THE ADVISORS

THE PARTNERS

INTRODUCTION VIDEO

Still Not Satisfies? Check these out:

• Kleros Website
• Kleros WhitePaper
• Kleros Medium
• Kleros YouTube
• Kleros Telegram
• Kleros Twitter
• Kleros Github
• Kleros Forums

Kleros Images sourced from Kleros Website and Kleros WhitePaper .

This is my entry for @originalworks contest here

kleros2018