JUR is a straightforward blockchain-based platform designed to help resolve disputes for a fraction of the cost they would take to resolve in court. The system uses blockchain technology to revolutionize how people dispute contractual obligations. It is also the very first Dispute Resolution Platform that is consensus based.
The core functionality of JUR is free for use. With this technology, users can create a smart legal agreement, make a secure escrow deposit, securely withdraw a settlement, and resolve contractual disputes. JUR will resolve every dispute within just 24 hours at a cost of almost zero for every contracted party. JUR also allows for secure management of escrow deposits, settlement payments, and legal agreements thanks to blockchain technology.
How Are Decisions Made with JUR?
The decisions in JUR are designed to be fair. The Dispute Resolution system is built on the principles of anti-bias, consensus-based voting, and a qualified legal community.
A user can open a dispute, and then oracles vote on who won the dispute, with the most votes making the decision. Upon a dispute resolution, money from the contract automatically moves in the winner’s favor.
How Can JUR Assist with ICOs for Crypto Evangelists and Blockchain Entrepreneurs?
One of the functions of JUR is its ability to help transactions and contracts related to ICOs, including the investments. Blockchain entrepreneurs can use JUR to cut out the intermediaries when it comes to managing the legal and financial infrastructure for an ICO launch. The relevant services for ICOs that JUR users can take advantage of include milestone-based investments that are enforced with smart contracts, investment escrows, and OTC transactions that include staking.
How Can JUR Make Legal Work More Accessible?
The nature of JUR makes legal work much more accessible and affordable via its use of the blockchain. Whether discussing an individual or a business, the costs of traditional litigation can add up, putting a strong strain on the person in question in terms of time and money. As a legal blockchain platform, JUR changes this via smart contracts as well as smart, trustless dispute management.
How Can JUR Help with Day-to-Day Activities?
Using JUR is simple enough to do that users can use the platform for their daily activities. The smart contracts on JUR are simple to implement and execute, letting the average person use the platform to take advantage of its blockchain-based and community-powered functionality as a decentralized judge and jury. The team behind JUR sees it as a modern method of conducting legal work regardless of the setting and parties involved. Everyone from individual freelancers to enterprises can use JUR.
How Can JUR Help Those Who Use a Sharing Economy Platforms?
With the rise of sharing economy platforms, users need a way to manage disputes in a reliable manner. JUR steps in to fill this void, offering a way for websites like Freelancer, Fiverr, and Upwork to manage disputes. Enterprises will also be able to use the JUR API to take advantage of the platform’s dispute management abilities.
What Are Some Other Potential Uses of JUR?
There are many other potential applications of JUR, such as trading intellectual property; trading registered goods, like boats and cars; and resolving the issue of fake news in social media. Businesses can also use JUR to handle the customers who do not pay by offering a way to onboard themselves and clients and then use binding smart contracts that include automatic penalties.
How Does JUR Compare to the Competition?
There are a few other similar platforms to JUR, but JUR stands out from the crowd. For example, Augur and Gnosis also use a voting system, but JUR is a bit more granular, making it more applicable for examining small events. Additionally, JUR can be used for crowdsourcing opinions between two alternatives, although the team does see it mostly being used for resolving disputes. In terms of its use of contracts, JUR can be most closely compared to platforms like LegalZoom and Rocket Lawyer, but with the use of the blockchain instead of traditional methods and the enhancement of dispute resolution.
How Does JUR Make Money?
Despite being able to charge next to nothing for dispute resolution, JUR’s business model is designed to generate a profit. This is possible thanks to its premium functionality and high-volume usage. In terms of volume, users of JUR get free three agreement managements every month, with the ability to add more agreements for a fee.
JUR also offers a Smart Contract Builder and other tools that let experts make smart legal agreement templates. Experts can then sell these on the JUR Marketplace. While the experts behind the template will make a profit, JUR will also charge a small fee from every agreement, creating another revenue stream.
There is also the option of an API subscription for the JUR core functionality. Finally, JUR offers the ability of making escrow deposits with stable coins as opposed to JUR tokens and charges a small fee for every deposit.
What Does the JUR Roadmap Look Like?
The idea for JUR was conceived in Q3 of 2017. In Q4, the project created the white paper 1.0 and focus groups. This is also when they had a private alpha version, early investments, incorporated the company, and worked on team building. Q1 of 2018 saw the seed round and patent. In Q2, the team created a temporary website and white paper v.1.0, worked with the blockchain alliance, and hired business development for Southeast Asia and Asia.
In Q3, JUR will have a new website, white paper v.2.0, and the technical paper. Q4 will see the MVP release and the ICO. This is also when the developers will begin testing the open voting system.
JUR is a platform that uses the power of blockchain technology to deliver dispute resolution via consensus mechanisms. Users can get a resolution within 24 hours for a nominal fee, with several free agreements per user available every month. There are wide ranging applications for JUR, from businesses to daily interactions, showing a great deal of potential for the project.