KLEROS, CREATING A WHOLE NEW JUDICIARY AND JUSTICE SYSTEM ON TOP OF THE BLOCKCHAIN

femi-sc (31)in #originalworks • 6 years ago (edited)

Every now and then we all enter into disputes with one another, some of these disputes are easily solved, while some of them might need the intervention of a third party to enable proper checks and balances.

This intervention of a third party has triggered the inauguration of the formal legislative arm of every state, which acts as a third party umpire in every case and helps in taking care of disputes.

The Judiciary arm, even as it is well structured with seemingly infallible characteristics, there seems to be some flaws crawling up on the system caused by some people who believe they have the power to turn any and everything to their will.

Blockchain technology seems to be the way out for several problems and challenges in the world so far, with a long range of immutable characteristics, and a repertoire of features which makes it impossible for malicious acts to be carried out on top of the blockchain, the only solution to the problems arising in dispute resolutions seems to be an effective intertwining of the entire system with blockchain technology.

Do you think there can be a way we can incorporate the legal system into blockchain technology, creating a decentralized Justice system for both smart contracts and other kinds of disputes?

MEET Kleros a decentralized Justice System...

Kleros is a decentralized platform built on the ethereum blockchain that leverages 3 different technologies to deliver a blockchain-based
Judiciary system, where the power is placed in the hands of the people.

Kleros ia a decentralized Judiciary, where everybody has a say pertaining conflict resolutions as long as its related to their areas of expertise.

By using Incentivized systems to ensure honesty of judgement, the platform leverages on Thomas Shelling’s “ Shelling Points” system to ensure that all disputes are resolved in the right manner.

Kleros leverages on Crowdsourcing technology, blockchain technology and Game theory technology to deliver a platform that is infallible in architecture and excellent in disputes resolution.

Kleros methods of picking jurors to any case is out-of this world and very effective in ensuring transparency of judgement and coherence of jurors to the objectives. Making the judges anonymous to each other and not being able to thwart the ruling to the favor of any singular party, the juror has no other option than to enable a voting based on what is right, with the hope that other jurors would do same.

Kleros will enable small businesses to record more growth and development as they have the backing of the major blockchain enabled judiciary platform that can effectively settle all disputed with lesser time and resource.

Big companies can partner with Kleros officially as their legal and arbitration partner, making it easier to handle cases and since the system is rig-proof, others can start incorporating such services onto all their agreements, creating contract, incorpotating Kleros and stating them as third-party arbitrators in the event of any maladministration

Pinakion Tokens (PNK)

Pinakion is the token of exchange of the Kleros platform, it is used as a Proof-Of-Stake currency for jurors voting and also as an incentivization currency. The Pinakion is an ERC-20 Complaint token that can effectively be used in the Kleros ecosystem and outside too.