Jur ICO Review: A Decentralized Legal System

by Ankur Gupta · October 3, 2018

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In today’s business scenario, dispute resolution and the legal system is highly inefficient, rigid, lengthy and costly. If there is any dispute in the market for a professional, a business house or even an individual the whole legal process becomes cumbersome and lengthy causing huge expenditures for both the parties. In case of bureaucratic dispute or dispute involving banks or any other public service organizations the scenario is more severe where the whole economy is affected and the market trust of customers and investors decline as well. The traditional dispute resolution mechanisms or ADR are often costly and ineffective because they are not backed by adequate enforcement mechanisms and are time consuming as well.

Based on Blockchain technology, Jur has created a new dispute resolution system that is not only fast, but also cost effective and efficient. Users can now deposit their funds into escrow accounts and also create legal agreements with the help of smart contracts at near to zero cost.

Jur: How does it work?

The main aim of Jur is to build a transparent and trustful relationship between businesses and individuals and create a more secure business environment in the community. Jur guarantees to solve the disputes within a 24-hour span with a more efficient legal system and immediate enforcement of its dispute resolving measures. Anyone can be a registered user in the Jur ecosystem. Jur guarantees to solve even the smallest of disputes of sums ranging even under $1000 with a very minimal cost. The Jur platform offers a number of tools that can be easily used by its users.

Jur is the utility token of the system and is based on Ethereum platform and is ERC20 compliant. The tokens can be used for escrow funds, payment to third parties, voting, payment of fees and other transactions in the platform.

Features:

Ensures complete transparency in the system.
Completely decentralized which ensures less corruption in agreements.
The Smart Legal Agreement Injector (SLAI) allows its users to buy a contract template, upload a generic template, or build a new contract and hash the contract. It is then stored in the Blockchain.
The Smart Legal Agreement Builder (SLAB) allows users to build Smart Legal Templates or SLTs with their unique features and details. Users can also rate the templates and give their suggestions and ideas.
Smart Legal Agreement Marketplace (SLAM) is a marketplace where contract creators can resell their legal templates and earn revenue.
Oracles Group (OG) allows its users to create groups and communities where they can exchange ideas and opinions.
Voting Web Interface (VWI) allows its users to vote and also report disputes in the open forums. The oracles then categorize the disputes according to industry and topic and discuss the possible solutions.
Latest APIs that support the 2.0 market platform of the ecosystem.
Hubs consisting of expert professionals from various backgrounds like lawyers, real estate professionals etc. who can give their expert advice and service to the users of the oracle.
The members of the community can also earn rewards for their participation in resolving the disputes.
Jur is backed by a highly competent professional developers, security experts and technicians who provide round-the-clock service to upgrade the ecosystem to the next higher level.
Jur has partnered with various legal partners from different countries who belong to a global litigation network thus providing a much broader view of disputes and solutions.
Anyone can join the ecosystem and build their own App according to their industry.
Users can develop and build their own Hubs and create guidelines for participation and resolution of disputes.
Jur users can enjoy three free agreements in a month, anything more than that, they have to pay fees for each agreement.
Jur also plans to sell its dispute resolution platform to other freelancers like fiberr and upwork on yearly subscription basis.
Jur also ensures that their freelancers and professional experts are paid adequately for their service.