JUR - ICO review. Legal assistance in blockchain.
This time we will talk about legal disputes and their decisions. I think it is not worth philosophizing about future prospects and all sorts of features of the platform, since everyone understands how rich and diverse the range of its applications is. Moreover, in general, the volume of legal conflicts and various disputes that need solutions and the presence of the third parties is enormous. However, in this terminological case there are "The Oracles".
Many who think about the prospects of the product and its relevance, I can say that the blockchain is the necessary and unique tool with which the whole process of conflict resolution can take much less time. Furthermore, those who have encountered any legal subtleties, terms for carrying out certain procedures, I think, are convinced that this outdated system needs to be urgently changed and it is only a matter of time.
There is an ordinary example: any legal decision is made in the form of certain documents confirming heaps of unnecessary authorities and other waste paper, which takes several months to complete. , Thanks to the advanced solutions of a start-up of the "JUR", this kind of situation can be considered with decisions taken within 24 hours! So, who else but we are interested in saving our personal time and, of course, our nerves.
The "JUR" is positioned as a decentralized platform for the provision of legal dispute resolution services, in accordance with generally accepted international standards in the form of smart-contracts for blockchain Ethereum.
In accordance with the roadmap, the concept originated in the 3rd quarter of 2017. By the 1st quarter of 2018 the technology was patented, and the start-up began to gain momentum.
Due to the fact that there is a patent for this product, I believe, that this solution is unique in its kind.
The main tasks of the "JUR" are:
To create an automated ecosystem to assist in resolving problematic issues regarding contract errors;
The assistance in transactions and resolving disputes within the framework of the ICO, including investments, mediation and legal support for the beginner start-ups.
First of all, all decisions made on the JUR platform are designed to be as fair as possible (veritable). The system of dispute resolution is based on the simple, but very important principle of "lack of bias" to any of the parties. The voting on a dispute takes place on the basis of an agreed consensus on behalf of a qualified legal community.
The whole procedure of this process is quite simple and begins with the immediate "opening of the dispute". This is followed by the shaping of the application with the provision of facts and evidence (as well as the deposit of money from 2 parties), in the form of an intra-platform smart-contract. Further this material is considered by oracles with further voting.After the end of the consideration of the dispute and the decision, which is based on the majority of votes, the amount of money moves in favor of the winner.
However, solving these disputes is only one of the main uses. There is also a legal support of companies at the ICO stage.
A wide range of applications of JUR technology is the main priority of the project. Apart from resolving disputes, this is also legal support for start-ups. Also, an important fact is that in the first half of 2018 start-ups collected a total of $ 8 billion. Therefore, those who legally supported these startups recorded a good amount in their total capital.
The relevance of the start-up and the active work of the team and the oracles can make this project one of the most popular on the market. However, for now this is just guesses and assumptions, as they are now at the ICO stage.
P.S. This material is posted for your reference. Not a financial advice. I do not encourage you to participate in any ICO. You need to understand and consider the high risks of investing in ICO. The content expresses the author's personal opinion. The author is not an expert in the field of block technology. Always conduct your own analysis before investing in any ICO.
Information resources of the project: