Kleros & Thomson Reuters Incubator Join for New Justice Protocol on Internet
The Thomas Reuters Incubator program has welcomed a new protocol – Kleros.
Kleros, a protocol that supports blockchain dispute resolution, will help both the businesses and the individuals feel more comfortable in their transactions. To establish that safety, Kleros employs the help of smart contracts that reduces the risks for either party, whether they are in the e-commerce, insurance, or finance industries. If any dispute occurs, then the Kleros’ platform is setup for fast and understandable solutions that are fair to both parties.
The program is specifically setup to work with FinTech, RegTech, LegalTech, and NewsTech right now, due to the predicted interest of the Thomson Reuters Labs incubator. Companies that engage will have office space, executive monitoring, and access to the data and technology that the program has, according to Barry Dooney, a Strategies and Operations Manager.
Dr. Federico Ast, the Co-Founder and CEO of Kleros,’ noticed that there wasn’t a standard procedure that could be referenced or used during any kind of dispute, wreaking havoc on finding a solution. He sees it as an honor to be only the fifth project that the Incubator Lab has allowed to join their program.
However, CTO and Co-Founder Clement Lesage stated that he felt it was their responsibility to establish a resolution that was built right on top of the blockchain. By combining the efforts of both of these brands, the companies hope to form a better connection between blockchain and real-life applications. The end goal is much simpler – democratizing access to justice.