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JUR Alliance Project Review

Nov. 19, 2018 | by Michelle, AirdropRating.io


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Overview

Legal binding agreements remain susceptible to time-draining and inefficient dispute resolution. All this is leading to a meteoritic rise in injustice. JUR brings forward a dispute resolution system on the blockchain. It is efficient, reliable and immutable. 
The platform is leveraging the inherent benefits of Distributed Ledger Technology (DLT). JUR is a consensus-driven platform to provide justice in case of contractual obligations. 


Principle

Jur is the much-desired platform for demanding millennials. Desired is trust in business relationships and near Zero costs of Legal Agreements. The dispute resolution payments execute in the form of an ERC20 hybrid utility token. 

The JUR platform users convert the legal agreement into a smart contract. A user can institute a dispute. The peripheral oracles vote and reach a common consensus. As soon as the dispute resolves, the escrow amount automatically moves towards the winner. Disputes get resolved in 24 hours as opposed to the time-intensive traditional judicial system. 

 

JUR RoadMap

As a futuristic legal agreement dispute resolution platform, JUR offers full-stack dispute resolution. The knack is the resolution of simple and complex agreements. Specialized markets of series of linked contracts will also be the focus of service. The Hubs of qualified voters motivated by the incentive-based consensus drive specific markets. 


Three types of contracts

Without Escrow Contracts

Known as an arbitration contract, the oracles vote in favor of one of the parties involved in the dispute. The smart contract, in this case, is external to the system and the decision is communicated to the same. The parties can initiate the contract by staking the tokens. The tokens of the winning party are refunded. This kind of contract allows marketplaces, freelancers and other such shared economy users to seek fair dispute resolution over a transparent platform.

With Escrow

Quite close to the Arbitration Contract in operation, this kind of contract needs escrow of JUR tokens. This escrow amount is automatically moved to the winning party after a voting is conducted by the Oracles. To avoid the exchange of stable coins to JUR tokens, the party can make escrow of stable coins by paying a small fee.

Hubs Contract

Only an expert group of Oracles can vote - known as Hubs.  The parties create contracts as usual and in case of dispute they can connect to a Hub for a fair dispute resolution by a qualified decision making the community. Hubs do not charge an additional fee but they can earn by selling contracts. 
Fair resolution of disputes catalyzed by JUR focuses on building an economy that is frictionless.



Potential Use Cases

• Collaborative economies are on the rise, and its payment modules are often susceptible to disputes. JUR principle fills the existing gap. It offers the hybrid market model conflict resolution without draining time and money. 
• With JUR APIs conflict management capabilities can be rendered to any organizations platform.
• Dispute resolution of ownership rights of registered properties like ships or intellectual property.
• Resolving conflicts in the media industry for false news propagation.


JUR economy 

A platform with near zero cost to dispute resolution seekers along with incentivizing the qualified experts, JUR economy is driven by high-end functionality and high volumes. 
• Per month it offers three free contracts for disputes. The additional dispute resolution calls for a small fee. 
• JUR platform integrates a Smart Contract Builder where experts can build and sell legal templates. JUR will charge a small fee for the use of these templates. 
• Escrow deposits made with Stable coins accompanied by a small fee


 

My Take

So much is at stake for dispute resolution globally. JUR seems to recreate the trust in dispute resolution. Given to the fact that the founding team comes from an aggressive background of legal tech, the project targets to cover 40 countries initially for borderless dispute resolution.