Kleros (PNK) ICO

updated 13 July 2018

The Blockchain Dispute Resolution Layer

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Status: ended
Public sale: 15 May`18-15 Jul`18
Cap: No info
Goal: No info
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Kleros

About Kleros

What problem does Kleros solve?

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.

What is Kleros solution?

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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