The current world is evolving around technological innovations that's been sprung globally. Countless number of persons are involved in buying and selling of products online beyond jurisdictional authorities. In the course of this trade, definitely dispute will arise. I've seen countless scenarios where people don't get what they ordered for and or situations where people don't see what they paid for. All these are bound to happen when there's no arbitrator to serve as a middleman while the transaction is being held. Problems like theft and fraudulent practices have been recorded many times which is now scaring away individuals from purchasing things from the internet.
As bad as this is, there's no need to worry over things like this. Because this is the very first of its kind, Kleros is charged with the responsibility of painstakingly wiping the pains of individuals by serving as an arbitrator between transacting parties.
What is KLEROS?
Kleros is a decentralized application built on top of Ethereum that works as a decentralized third party to arbitrate disputes in every kind of contract, from very simple to highly complex ones. It relies on game theoretic incentives to have jurors rule cases correctly. The result is a dispute resolution system that renders ultimate judgments in a fast, inexpensive, reliable and decentralized way.
Kleros is ready to settle any type of dispute as long as it's signed in the contract. It serves as a decentralized third party to arbitrate disputes in every kind of contract, from very simple to highly complex ones.
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