What is Kleros ?
Naturally, disputes are bound to happen during interactions and this disputes can be resolved either amicably or the other way around which is dreadful and painstaking for both parties involved. The process of resolving this disputes can be termed as dispute resolution .
Kleros, which is a dispute resolution platform uses decentralized services to adjudicate and connect disputing parties to experts in the field in a fast, secure and affordable way.
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How Kleros Works
When the parties are creating a contract, the contract should be detailed with Kleros integration and select the following
1.Number of jurors
2.Category of contract (sub court)
3.Outcomes
By selecting this, they can rest easy knowing that should a dispute arise, it will be dealt with by the appointed jurors.
HOW THE ADVENT OF KLEROS WILL BENEFIT LARGE COMPANIES
Kleros , which is a decentralized dispute resolution platform will benefit large companies such as Amazon and eBay in resolving disputes better than the non-decentralized way. Let me use a case to explain this.
When ordering items from ''Amazon'' which is an internet retailer, most times it doesn't get to my destination on the specified date which it is needed and even sometimes I dont get my package . The money i will use to sue them to get my cash back will be so much that it is better to accept it that way, with this issues i lost confidence in Amazons. Amazons can make use of Kleros in order platform to boost customer confidience due to the smart contract system adopted on Kleros and the security that comes with such modes of transaction. With this, they get increased number of customer and increase their net profit.
How does Kleros ensure fairness through its incentivization system?
Like I read from the post that the jurors are properly compensated and they also lose tokens if a judge is considered to have voted incoherently. I think this is a good idea here, but this does not entirely ensure fairness. My reason for this is that based on loss of token, the jurors would not be able to vote with independently with justice because of fear of losing tokens. This can be resolved by investigating an incoherent vote before taking actions accordingly.
CLICK ON THE LINKS BELOW FOR MORE INFORMATION AND RESOURCES:
Kleros Website
Kleros Medium
Kleros Github
Kleros Forum
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https://steemit.com/crypto/@originalworks/940-steem-sponsored-writing-contest-kleros
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