A new platform for decentralized, streamlined resolutions to disputes in the legal field has been announced. Jur will use blockchain technology to eliminate high costs, delays and more.
A new online decentralized platform for dispute resolution has been announced, called Jur. The blockchain powered platform aims to create a consensus-based dispute resolution mechanism that eliminates the efficiency, time delays, and cost of litigations in the legal industry.
More information can be found at: https://jur.io
The team explains that Jur will use blockchain technology to induce transparency, cost savings, and agility in an otherwise stagnant industry. It will be the first consensus based dispute resolution platform and form a bridge between blockchain and the real economy.
This means that legal professionals will be able to get fast and easy dispute resolution at a fraction of their cost they’re used to. In a world where most contractual disputes that go to arbitration take more than 6 months to resolve.
What’s more, they often cost more than 50% of the contracted amount, which can be highly stressful and frustrating for everyone involved.
Using Jur, each dispute will be resolved within 24 hours at almost zero cost to the contracted parties. The Jur Core functionality is free to use and allows anyone to create smart legal agreements, make secure escrow deposits, and resolve contractual disputes quickly.
In addition to this, users will be able to withdraw their settlements securely. The platform will have a unique dispute resolution system that is built on a qualified legal community, consensus based voting, and anti biased principles to get the best results.
Users can rest safe in the knowledge that the Jur platform uses blockchain technology to secure the management of all legal agreements. It also ensures high security for every escrow deposit and secure payments.
Ultimately, it means that legal experts will be able to get more streamlined and secure processes for resolutions to problems. The current structure is plagued with inefficiency, high cost and delays, and Jur can change all that.
Full details can be found on the URL above.