• Home
  • BV Prime
  • Dispute Management to be Brought to Blockchain by JUR
BV Prime

Dispute Management to be Brought to Blockchain by JUR

The last two decades have seen technology advance significantly. From being something that was a fascinating thing that only the elite had access to, technology has become an omnipresent part of our lives as it has become more and more affordable. Reliable internet connections, social media and smartphones have transformed the way in which we interact with each other and the world around us.
At the same time, there is an effect that decentralized economy is making on the world. It is changing the expectations we have when it comes to technology. Just as the internet really picked up the pace surprisingly in the 90s to grow to becoming something of a phenomenon, the advent of decentralized economy is seeing the same. It is producing new platforms, disrupting the way in which things have been happening and effectively reorienting the relationship we have with technology.
Dispute Resolution in Blockchain Era by JUR
JUR is a dispute resolution platform which has taken form in the era of blockchain technology. It implements the disruptive new technology behind the decentralized economy and game theory in order to create a sense of trust between corresponding parties which operate in this new digital landscape. The prospect of utilizing digital tokens allows JUR to offer users a verified payment structure along with dispute management through decentralized means.
Up until now, the digital age has been missing the key aspect of conclusive and fair conflict resolution. JUR is going to provide that crucial component to the blockchain era by implementing the services it provides in a secure yet simple manner. A conflict free digital economic system will then be able to properly flourish.
Decentralized Management of Disputes
The current manner of adjudication happens to be inconvenient most of the time and unreliable in many cases as well. The prospect of decentralized dispute management will resolve disputes within the space of 24 hours and that too without the exorbitant costs that come along with traditional methods of dispute management.
If there is a dispute, a user will open it and arbiters will utilize the JUR tokens to vote for the winning party based on the facts and figures of the dispute. The smart contracts on the blockchain will be used to transfer the funds to the winning party’s account based on the consensus that the arbiters will reach.
With billions of cryptocurrency transactions taking place every month, JUR presents a unique way to eliminate counterparty risks while using cryptocurrencies. The need for accountability and dispute management has been a long time coming for the new decentralized economic system brought upon by the advent of the blockchain era. With the likes of JUR at work, the new economic system will become more trustworthy and usable for people throughout the world for a truly fair global economic system.

Related posts

GMO’s New Web Bank and Blockchain for Payments

admin

GDPR Could Spell Disaster for Blockchain Innovation

admin

State Government in Australia Invests in Tourism Crypto Startup

admin

Leave a Comment