Jur Open Layer: Dispute Resolution on the Blockchain
The Open Layer is the online dispute resolution mechanism designed by Jur for small deals that need a super quick and cheap way to solve disputes.
Jur has just released the Jur Beta Platform, a combination of the Jur Editor and the Jur Open Layer. While the first one is used to create contracts on the blockchain, the second is used to perform a dispute resolution. The first wouldn’t be of real use without a way to enforce it. That’s why we have developed the Open Layer, a dispute resolution system.
What is an online dispute resolution system?
As you surely know if you are visiting this web page, many dispute resolution systems exist as alternatives to making a claim before a national court. However, the national court system is usually inconvenient due to the costs and duration of litigation proceedings.
This is extremely problematic for fast-paced small deals based on micro-transactions. Where speediness is crucial, the parties cannot bear the inefficiencies of the national court system, which sometimes exceed the value of the dispute itself.
As a response to this issue, the parties with certain business needs usually rely on different dispute resolution systems that provide that the decision is made by third parties other than national judges in a quicker way. Arbitration, mediation, and conciliation are among the most appreciated alternative dispute resolution methods. With the advent of the internet, many online dispute resolution systems, with proceedings conducted online have come to light to provide for quicker and cheaper ways to solve disputes. Jur has designed its own dispute resolution mechanisms as well in order to make the Jur Beta Platform an all-inclusive service.
Why is an online dispute resolution necessary?
The smart contract technology is perfect for automating transactions but it cannot be used to assess subjective elements such as — for instance — the quality of the work made by a freelancer or the quality of the products delivered by a supplier. In these more complex scenarios, human activity is needed. Having an online dispute resolution method fills the gaps of the smart contract technology and brings the ability of humans to assess into the flow.
What is the Open Layer?
The Open Layer is the online dispute resolution mechanism designed by Jur for small deals that need a super quick and cheap way to solve disputes. It can be used by the parties by including a Jur Dispute Resolution Clause in the smart legal contract. If you want to initiate a dispute on the Open Layer all that you need to do is to make your own proposal for solving the dispute and stake at least 1% of the value of the dispute in JUR Token on it. The counterparty submits his/her counter-proposal as well. Then both proposals can be voted by the community of Jur (basically, each person having JUR Tokens). Each JUR Token staked represents a single vote. The proposal that gets more votes wins. The movement of funds expressed in the winning proposal is automatically executed by the smart contract technology and so the funds are moved, and the dispute is definitely solved without seeking enforcement before a national court.
To sum up, the Jur Beta Platform enables you to create your own smart legal contracts and solving any potential disputes arising from them thanks to the Open Layer. Having JUR tokens and using them is the only thing that you need to access all these features so that you can manage your deals way more effectively.
Jur believes that such an all-inclusive service empowered by the smart contract technology and automation translates into a safe environment for deals based on good faith and fairness.
More about the Jur Beta Platform:
