The Blockchain dispute resolution layer



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4.5

team

vision

product

hype

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Token

May. 15, 2018

Jun. 15, 2018

PNK

ICO Website

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24 days left


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Idea and Token

Kleros is a decision protocol for a multipurpose court system for solving any kind of dispute. It is an Ethereum autonomous organization that works as a decentralized third party to arbitrate disputes in every kind of contract, from very simple to highly complex ones. Every step of the arbitration process (securing evidence, selecting jurors, etc.) is fully automated. Kleros does not rely on the honesty of a few individuals. Kleros leverages the technologies of crowdsourcing, blockchain and game theory to develop a justice system that produces true decisions in a secure and inexpensive way.

Users have an economic interest in serving as jurors in Kleros: collecting the arbitration fee that every juror gets for his work. Candidates will self-select to serve as jurors using a token called pinakion (PNK). The probability of being drawn as a juror for a specific dispute is proportional to the amount of tokens a juror deposits. The higher the amount of tokens he deposits, the higher the probability that he will be drawn as juror. Jurors that do not deposit pinakions do not have the chance of being drawn. Each juror will be paid a fee determined by the subcourt where the dispute is solved. The arbitrable smart contract will determine which party will pay the arbitration fee.

Team

Three co-founders of the project: Dr. Federico Ast (CEO), Clement Leasege (CTO), Nicolas Wagner (Web3 Developer). The team consists of 9 members and 2 advisors. All LinkedIn profiles are real.

Summary

Kleros is a bold, strong and extraordinary project. The sphere of dispute resolution is one of the most complex because of its nature. In this area, few people can suggest a solution that can stand up to criticism. The Kleros team, in our opinion, has brilliantly succeeded. The first thing we pay attention to is the depth of the materials. Whitepaper contains a detailed explanation of the problem, use cases, conceived protocol and work algorithm. Several sections are devoted to working out risks and counteracting possible attacks on the Kleros protocol.

At the moment, the project has a prototype and released MVP.

A strong team. Several members of the team have academic degrees. Our opinion about the project is quite positive. Kleros makes a bold attempt to change the usual course of things and give people a quick, simple and fair way to resolve conflict situations. We follow the project and wish the team a successful ICO.

Kleros is a blockchain Dispute Resolution Layer that provides fast, secure and affordable arbitration for virtually everything.

What problem does Kleros solve?

What is Kleros solution?

The rise of disputes of the global, digital and decentralized economy in areas that cannot be solved by state courts and existing alternative dispute resolution methods. For example, in international e-commerce and service delivery.

Kleros uses blockchain and crowdsourced specialists to adjudicate disputes in a fast, secure and affordable way. Kleros connects users who need to solve disputes with jurors who have the right skills to solve them. Crowdsourcing taps into a global pool of jurors. Blockchain technology guarantees evidence integrity, transparency in jury selection and incentives for honest rulings.

How does it work?

Alice hires Bob for a freelancing work and they both select Kleros as arbitration provider. Instead of paying Bob directly, Alice sends the payment to a smart contract. A dispute arises. Evidence is sent to Kleros, which draws a jury of experts. Jurors analyze the evidence and vote Alice as winner. The smart contract reimburses Alice. Jurors collect arbitration fees for their work, which are paid by Bob. The case is closed.



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