The System For Dispute Resolution on Blockchain
Project idea
Constantly problems appear with the execution of contracts and other legal documents. Very often people alone without the involvement of a third party can not solve the dispute and reach an agreement. All this creates disputes, which can be resolved only by a third independent party, that is trusted by both parties of the dispute. The parties of dispute agree with its decision and this decision must be enforced.
Usually, an independent third party is the court. Courts are subject of the laws of the country in which they are located. Court judges are qualified to make the trusted decisions. The court's decision, which is in force, is obligatorily and enforceable by the state.
However, the judicial system is very slow and unwieldy. The implementation of court decisions sometimes people have to wait a very long time, if they are executed at all. Courts are overloaded with cases, executors of court decisions are even more overloaded then the courts. Therefore, a person has to wait a long time for making the decision, and then the execution of the decision made earlier.
Everyone who have ever participated in court proceedings knows that they are very expensive. In addition to the direct legal costs, large amounts are spent on the lawyers, consultants, experts, advisers, independent assessments, etc.
As the statistics showed, the decision-making on the most disputes that have reached the arbitration takes up to 6 months, and the costs of the court procedures are up to 50% of the amount of the dispute.
JUR decided to change the current practice. Dispute resolution on the JUR platform takes 24 hours and it is free of charge (up to 3 disputes per month).
How the dispute is resolved
The parties decide that they trust the JUR platform to resolve the dispute. Open a dispute on the platform together with all the materials of the case. As a security measure, each party of the dispute shall deposit the disputed amount to the ESCROW smart contract. The parties decide who will resolve their dispute: the crypto community or a qualified team of experts. The decision is taken by a majority of the votes. The winner is the party that got more votes.
Since the implementation of the solution is provided by a smart contract, the party that won the dispute quickly gets the payment.
Thus, it is not necessary to wait for long-term decision-making by judicial and arbitration courts and even longer execution of the entered into force judicial decision.
In addition to the dispute resolution, the JUR platform is used to create the legal smart contracts. Samples of such legal smart contracts can be bought on the marketplace of JUR at small prices.
Partners of JUR can connect to the sites functionality of the platform through the API.
ESCROW deposits for dispute resolution obligations can be made in different currencies, including fiat money, to ensure the greater stability of ESCROW.
The platform will also provide the legal assistance to the developing cryptocurrency startups, including during the ICO.
What has been done
The platform is patented. This means that it is a unique one. The project pays special attention to the promotion in the Asian region. In the 4th quarter of 2018, the release of the working product is planned.
Team
The project has a team with an experience in the various fields of knowledge, including law, finance, programming.
The details of the ICO
At the moment, the pre-registration in the White list is done. Total 1 billion JUR tokens will be issued. 400 million will be sold during the various stages of the ICO.
The date of the ICO is not yet set. It is scheduled for the 4th quarter of 2018.
Project development
The release of the finished product is scheduled for the 4th quarter of 2018. In the 1st quarter of 2019 the voting system and the system of legal smart contracts will be implemented.
Conclusion
The idea of the JUR project is patented, which indicates its uniqueness. The project began its development and promotion in Asia, the region that is most actively developing and interested in all advanced technologies.
The release of the finished product is planned for the 4th quarter of 2018. Now any investor can sign up to the White list to be one of the first to participate in the ICO, the date of which is not yet set.
The project is actively developing. The team takes part in various marketing activities and promotes the project ideas all over the world. JUR has active social networks, the official page on Bitcointalk. The project is discussed on specialized crypto forums, controlled on ICO trackers and monitors.
This is very good Project idea. project team idea also good. ico ptice is good on it. all the best for this project idea.Thank you!!
ico ptice is good on it. I can see Very often people alone without the involvement of a third party can not solve the dispute and reach an agreement. i am happy that your posting se. All right and very good.
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I read your article, really explains everything in detail about resolution on Blockchain, the article is very interesting and effective. Thank you and good luck for the upcoming articles.
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Cool and much lovely article with an complete details of blockchain project. loved to follow each and every instructions as u had shared out.. gr8 to loved it!!!!
A very nice article which covers all important aspects of dispute solution and how to solve disputes through process of ESCROW and JUR. A fantastic overview.