In the Today's world there is a lot of situations where dispute occur between various people due to some reasons.But what If There might become a simple System using block chain technology due to which the dispute gets solute out in a very less time and thus save your money as well as reduce the immense pressure on you.
So Here is the solution : Kleros
What Actually a Kleros Is ?
Kleros uses block chain technology to solve the dispute between the peoples. It uses a decentralized service in which the chances of partiality to any of the party become zero hence become an reliable system for solving your real time problems.
How does Kleros works ?
In kleros the both the parties came together on the same platform for their agreement. For this kleros collect an arbitration fee which is just to ensure that the dispute is solute out properly. In fact there is also a provision the party which is proves to be right get its arbitration fee back. So lets get some more about this on the use Case as follows.
Use Case:
Suppose there is a situation that a foreign company wanna set up their business on the other country. After following the documentation of the foreign policy for the particular country, a company usually do collaboration with the others persons out there in that particular country. Suppose they make a contract with the people of particular exporter in that country. Let us suppose that they make a deal of worth 100k $ for a year in 4 installments like 20k, 20k, 10k, 50k. but after some time exporter did not remain on that deal and start ignoring them.
Now there becomes two sub cases:
If they do not make the agreement with kleros then dispute may go long or may be possible that company or exporter get huge loss
They had teken the kleros contract and thus the dispute will be seen by the juries and juries will decide which one is right or which one is wrong. this all happens in block chain therefore chances of unfair decision are null and hence the two will save there time as well as money.
This post is thanks to
https://steemit.com/crypto/@originalworks/940-steem-sponsored-writing-contest-kleros
Official Website : https://kleros.io