Are you new to the cryptocurrency and blockchain market? This market is huge and it changes so fast that it can be scary for newcomers. To be sure that you are investing well, you have to get all the information that you can about the market and decide how you are going to use it to get a really profitable return on investment.
We can certainly help you with that. Our blog’s main mission is to help investors like you whenever they need to know the hottest companies in the market or to get some directions about where the best investments lie. We review a lot of interesting companies that appear on our radar so you can be as well informed as you will be about them.
Today we are going to review a new start-up company which has appeared on our radar called Kleros.
What is Kleros PNK?
Kleros is an open source project which was created with the objective of being a decentralized and autonomous organization that will be able to deliver fast, affordable and transparent justice. The company will use blockchain technology and crowdsourcing to evaluate complex evidence and solve legal troubles in a quick and efficient way.
Obviously, Kleros has no jurisdiction over “real” law, but the program can be used to regulate many cyberspaces without the need of official governmental intervention, which is generally slow and it would take too much to solve the problems because it already has a lot of real life issues to solve.
This opens a space for Kleros to be used on decentralized platforms to help in the evaluation of disputes between users that would normally be ignored by mainstream justice.
How Does Kleros Work?
When a dispute has to be settled between two or more different users of a certain platform, they decide to use Kleros as an adjudication protocol and the program will start. All the relevant information will be secured, a tribunal of users will be randomly chosen and they will cast their votes over the evidence. The decision will be enforced via a smart contract.
Kleros can be used to solve many disputes in a transparent and fast way. If the justice would take months to solve some issues, Kleros can solve them much more efficiently (and the user will obviously be able to try the old-fashioned justice if he is not happy with the result).
This program can be used in arbitration for many instances, like in copyright disputes, crowdfunding and decentralized social media disputes for bad behaviour. Kleros will be an efficient way to deal with these problems in a clean and quick manner.
How to Invest in Kleros?
Unfortunately, you will not be able to invest in Kleros right now. The company is actually an open source project whose owners have decided not to create an Initial Coin Offering (ICO) at the moment, so there is no way to buy tokens to invest in this company at the current time of this report.
The company is currently looking for technical talent and for people to join their decentralized community, but that is about it for the moment. If you follow our blog, you can know if Kleros ever decides to start an ICO as we will inform you about that as soon as we know it.
The Kleros PNK ICO Verdict
Kleros is certainly interesting. Even if you cannot invest in this company, you can certainly use it in the future and save a lot of money that you would have to spend in court, so Kleros can definitely be an interesting tool for you. Because of this, try to remember Kleros, as might be useful for you someday.
As we stated before, we will give you any updates if the company decides to monetize this program, but while they do not do that, you can donate to the program or use it in your decentralized platform if you have one that might find some use for this tool.