Startups in recent years are growing like mushrooms after rain. And often, the most difficult part of the project is legal support. Dispute resolution and the legal system in many countries are extremely inefficient, tough, lengthy and costly. If the project enters the international market, the number of problems increases by several times.
In some cases, when the small amounts are disputable, it’s easier not to go to lawyers, simply because the consideration of the dispute will cost more than the disputed amount itself. The size of this market is difficult to estimate directly, but it is undoubtedly very large. The questions confronting lawyers are often very similar and can be resolved directly, without the need to plunge into paperwork. It was suggested that smart contracts under appropriate conditions could be processed as reasonable legal contracts in order to remove lengthy and expensive court proceedings from the entire process.
What is Jur?
Jur.io is a blockchain platform that will allow you to quickly resolve legal disputes with the help of smart contracts. The creators of Jur aim to create trust between the parties operating in the global economy.
Compared to classical jurisprudence, the procedure for resolving financial disputes at Jur is very simple. Both parties create a smart contract on the platform containing facts and evidence and contribute a controversial amount to its account. Further, the system of independent oracles of the platform considers the contract, and makes a decision by voting, during the day. Then the funds, minus a small commission of the platform, are automatically transferred to the account of the winning party.
For comparison: in classical arbitration, a dispute takes an average of six months to resolve, and the cost of legal services often reaches 50% of the amount of the disputed funds.
The project developers create a profitable, decentralized legal infrastructure on the blockchain. The platform works on the basis of unbiased, independent voting. Users will be able to create and store legal agreements and escrow deposits in the blockchain of the platform.
Website: https://jur.io/
Whitepaper: https://jur.io/content/uploads/2018/07/JUR-WhitePaper-v0.3-eng.pdf
Telegram: https://t.me/jurcommunity
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=5033562
