Decentralized Blockchain Dispute Resolution System
New Decentralized Platform for Dispute Resolution Arrives – JUR ICO
JUR is a simple platform based on blockchain technology designed to help resolve disputes at a fraction of the cost they would have to pay to resolve them in court.
The system uses Distributed Ledger Technology (DLT) to revolutionize the way people dispute contractual obligations. It is also the first consensus-based dispute resolution platform.
The network will resolve all disputes in just 24 hours at a cost of almost zero for each party hired. The platform also enables the secure management of escrow deposits, settlement payments and legal agreements thanks to blockchain technology.
The central functionality of JUR is free of charge. With this technology, users can create a smart legal agreement, make a secure escrow deposit, securely withdraw an agreement and resolve contractual disputes.
JUR’s decisions are designed to be fair. The dispute resolution system is based on the principles of anti-bias, consensus voting and a qualified legal community.
A user can open a dispute, and then the oracles vote on who won the dispute, with the majority of the votes making the decision. When a dispute is resolved, the contract money automatically moves in favor of the winner.
ICOs For Crypto Evangelists And Blockchain Entrepreneurs
Relevant services for ICOs that JUR users can leverage include milestone based investments that are enforced through smart contracts, investment deposits and OTC transactions that include betting.
One of the functions of JUR is its ability to assist in transactions and contracts related to ICOs, including investments. Blockchain entrepreneurs can use JUR to eliminate intermediaries when managing the legal and financial infrastructure for setting up an ICO.
More Accessibility to Legal Work
The nature of JUR makes legal work much more accessible and affordable through the use of blockchain technology. Whether it’s an individual or a business, the costs of traditional litigation can add up.
The latter always places a great burden on the person concerned in terms of time and money. As a legal blockchain platform, JUR changes this through smart contracts, as well as through smart and unreliable dispute management.
The use of JUR is simple enough for users to use the platform for their daily activities. Smart contracts in JUR are simple to implement and execute, allowing the average person to use the platform to take advantage of its functionality based on blockchain technology and empowered by the community as a decentralized judge and jury.
The team behind JUR sees this as a modern method of carrying out legal work regardless of the environment and the parties involved. Everyone, from the self-employed to businesses, can use JUR.
Shared Economy Platform
With the rise of shared-economy platforms, users need a way to manage conflicts reliably. JUR intervenes to fill this gap, offering a means for websites such as Freelancer, Fiverr and Upwork to manage conflicts.
Companies will also be able to use the JUR API to leverage the conflict management capabilities of the platform.
Companies can also use JUR to handle non-paying customers, and customers can use binding smart contracts that include automatic penalties.
There are many other potential applications of JUR, such as trading in intellectual property, trading in registered goods such as ships and cars, and resolving the issue of false news in the media.
In addition, JUR can be used to crowdsource opinions between two alternatives, although the team sees it as mostly used to resolve disputes. As for the use of contracts, the JUR can be more closely compared to platforms such as LegalZoom and Rocket Lawyer, but with the use of blockchain instead of traditional methods and improved dispute resolution.
There are other platforms similar to JUR. But JUR stands out from the crowd. For example, Augur and Gnosis also use a voting system, but JUR is a bit more granular, making it more applicable for examining small events.
How Does JUR Make Money?
Although JUR’s business model is designed to generate profits, it can charge almost nothing for conflict resolution. This is possible thanks to its high-quality functionality and high volume of use.
In terms of volume, JUR users receive three free contract actions per month, with the possibility of adding more contracts for a fee.
JUR also offers a Smart Contract Builder and other tools that allow experts to make smart legal agreement templates. Experts can sell them on the JUR Marketplace. While the experts behind the template will make a profit, JUR will also charge a small fee for each agreement, creating another source of income.
There is also the option of an API subscription for the main functionality of the JUR. Finally, JUR offers the possibility of making escrow deposits with stable coins instead of JUR tokens and charges a small fee for each deposit.
The idea for the JUR was conceived in the third quarter of 2017. In the fourth quarter, the project created white paper 1.0 and focus groups. This is also when they had a private alpha version, early investments, incorporated the company, and worked on team building.
In the first quarter of 2018 the seed was turned over and patented.
In the second quarter, the team created a temporary website and a v.1.0 white paper, worked with the blockchain alliance and engaged business development for Southeast Asia and the rest of Asia.
In the third quarter, the JUR will have a new website, whitepaper v.2.0 and technical paper.
The MVP and ICO will be published in the fourth quarter. This is also when the developers will start testing the open voting system.
JUR is a platform that uses the power of blockchain technology to resolve disputes through consensus mechanisms. Users can obtain a resolution within 24 hours for a nominal fee, with several free agreements per user available each month.
There is a wide range of applications for JUR, from business to daily interactions, showing great potential for the project.
You may be interested
Litecoin [LTC] creator tells its users to look beyond speculation, propagate adoptionEditor - September 26, 2018
[ad_1] Litecoin [LTC] creator tells its users to look beyond speculation, propagate adoption AMBCryptoLitecoin Gemini listing nothing short than gold for…
Australia’s Science Agency Claims Breakthrough in Global Blockchain TestEditor - September 26, 2018
[ad_1] Australia's Science Agency Claims Breakthrough in Global Blockchain Test CoindeskFork-free, energy efficient Red Belly Blockchain validated in global test CIO AustraliaTrial…
Another Institutional Trading Platform Ready to Launch Ethereum FuturesEditor - September 26, 2018
[ad_1] Another Institutional Trading Platform Ready to Launch Ethereum Futures Ethereum World News (blog)Cryptocurrency Derivatives Platform LedgerX Will Launch Ether Options:…