Here, we would talk about Jury Online. On how this project could be a great start up using the blockchain and what problems it would solve in order for us to maximize the decentralization, and transparency.
What is Jury.Online?
Jury.Online is a standard setting protocol of the future of the ICO. Jury.Online strives to ensure a new environment for the future of the ICOs making them responsible to deliver their ideas into viable projects by securing investor funds on a decentralized escrow smart contract published by the Project. The release of the funds and tokens may be activated only by initiation of each stage of the product's development or by third-party decision of the arbiters linked to the smart contract. Jury.Online has released v.1.0 of the platform together with demo version in Ropsten testnet. Jury.Online supervised and supported by Crypton Capital, which has dozens of projects in its portfolio.
Jury.Online is a revolutionary tool, which changes the interaction between investors and ICO projects once and for all. No more promises. Instead: specific commitments by the ICO project and unconditional financing of the project if these commitments are met. Jury.Online provides independent expert arbitration for fair resolution of any dispute between the parties. The platform will:
Increase the amount of investments in an ICO project by providing a clearcut mechanism for interaction between the parties.
Protect the interests and assets of the investor or group of investors if a project goes wrong
Ensure unconditional execution by investors of their commitment to provide long-term financing, tied to the achievement of specific milestones in an ICO project.
Provide a simple and effective way of making a smart contract with one investor or a hundred investors
Channel the expertise of highly qualified and independent specialists in finance, law, IT and blockchain, who will oversee the project from the time when financing is obtained.
How does it work in practice? The basis of any project is an idea and the team which implements it. But even the best team will have trouble converting the best idea into a quality product or service without timely and adequate funding. Efficient interaction with an investor is the key to success.
Where does a strategic investor, who is ready to provide long-term backing for an idea, find immunity to financial losses from unprincipled actions by the project team?
How can a project be sure of receiving promised investments through the whole period agreed with the investor?
How can the interests of investors who fund a project through an ICO be protected?
How can a project make its ICO more attractive and secure for its investors?
All these questions have the same answer: use the Jury.Online platform The technical infrastructure of Jury.Online systematizes the relationship between project and investor and puts the expertise of highly professional specialists in finance, law, IT and blockchain at the disposal of both sides. So potential problems due to misunderstanding between the parties during project implementation are minimized or eliminated.
Investing always carries the risk that the project may not live up to its development plan, and every project is exposed to the risk that an investor will fail to provide agreed financing at a crucial development stage. The experts of Jury.Online act as a third, independent party in the relationship between project and investor.
In the first place, they help to design a balanced "investment roadmap", where each step forward in project implementation entails receipt of a portion of the total investment.
So every new achievement of the project has its own price agreed in advance. The agreed stages of project implementation, tied to specific events, are set out in a smart contract, based on which the investor deposits the entire amount of investments in ETH currency and the project deposits the respective number of tokens. The project records completion of each stage and the investor and Jury.Online experts receive notification.
Everything necessary to verify completion of the stage (technical, legal, financial and other documentation, statistical calculations, program codes, access to alpha/beta versions, databases, etc.) is stored in a closed part of the Jury.Online platform. The investor studies this information to obtain assurance that the stage has indeed been completed.
A part of the sum in ETH is then automatically supplied to the project, and the corresponding number of tokens is supplied to the investor.
The project proceeds to the next stage. What happens if the investor does not verify a stage of project implementation? Jury.Online experts are automatically notified and immediately apply their skill to resolve the situation. If the parties cannot reach a consensus or do not want to negotiate, the experts act as arbitrators.
They study all the materials provided, analyze their integrity, quality and agreement with the commitments assumed by the project. Each arbitrator makes his/her own judgment on the case and the final verdict is delivered by a majority of votes.
The consequences of this verdict are:
*Return to the investor of the funds deposited for this stage; or
*Transfer of the appropriate portion of the investment sum to the project, if the stage has been completed satisfactorily; or
*Termination of the smart contract (if this possibility is stipulated by its terms and conditions) and return of the unused investments to the investor.
To know more of them, you can visit these links below
Website : https://jury.online
Facebook : https://www.facebook.com/Jury.Online.Official
Twitter : https://twitter.com/jury2beonline
Telegram : https://t.me/juryonline_community
Medium : https://medium.com/@Jury.Online
Bitcointalk ANN : https://bitcointalk.org/index.php?topic=2273820.40
Creator
aervin11
https://bitcointalk.org/index.php?action=profile;u=1196880