Transparency is the key feature of any justice system. Founded in 2017 in Paris, the startup Kleros uses peer-to-peer justice system that’s able to solve disputes in a transparent and inexpensive way.
The word ‘kleros’ means ‘chance’ in Greek and represents a new structure that will allow equal participation by everyone. The system is based on principles of random selection of jury members, known by the Athenians twenty-five centuries ago.
The old principles are now combined with the elements of blockchain and crowdsourcing. A tribunal is drawn from the crowd and jurors vote in favour or against based on presented evidence.
Kleros’ dispute resolution process consists of the following elements:
- Securing evidence
- Jury selection
- Token redistribution
Crowdsourcing taps into a global pool of jurors and blockchain guarantees evidence integrity and transparency in the jury selection. The company was founded by Dr. Federico Ast.