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Law of the blockchain

Photo by Sebastian Pichler on Unsplash

Taking Out the Middleman

The Paul Bergrins, John Merritts, Joseph Caramadres, and Jeffrey Wertkins of the world have made a radical series of headlines using the criminal justice system as a basis for publicity and notoriety, largely because between criminal action and judicial consequences exists a chasm of sluggish bureaucracy, permitting these scandals to carry on for months, and as in the case of Bergin, sometimes years. The cracks in the old model only encourage the opportunist with intimate knowledge of the system to take advantage and remain in the shadows until fate says otherwise. And then there are many others like them, the rusted cogs in the machine, invisible due to circumstance, perspicacity, or both.

What’s the verdict?

Services such as Kleros and Aragon offer “a decentralized court system allowing arbitration of smart contracts by crowdsourced jurors relying on economic incentives”. A very specific service dedicated to decentralized jurisdiction may eventually witness its applications in a variety of fields ranging from social networks to insurance.



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