Jury.Online Token
JOT

0.02840
$
27.50 %
Change 24h
Market Cap
$ 264,970
Volume 24h
$ 1552.6
Circulating Supply
9,330,240
Total Supply
18,602,000
JOT
$
Description
Jury.Online enables users to make deals that, if any party is dissatisfied, are reviewed by a panel of jurors that deliver a judgement in favour of one of the parties. Jury.Online also gives any person with expertise in a certain field the opportunity to use their experience and knowledge for paid dispute resolution. Here are several usage examples of the Jury.Online platform and protocol: One party is a company that needs to design a logo or write a text according to certain terms of reference. The company is quite well known and pays well, thus expects the works to be performed to the required quality. The counterparty is an artist without any outstanding works who has not used the Jury.Online service before. The party wants to hire the counterparty, but needs guarantees that the job will be done on time. In this case, the first party is the one interested in a potential dispute, as it may not like the result. The chance of a dispute initiated by the counterparty is small, since the money is kept on a smart contract and the party has no control over it. The party creates a deal on Jury.Online, with money for the work deposited to the deal balance. When creating the deal, the party specifies that in case of a dispute, the counterparty covers 80% of litigation expenses, making payment in advance. This ensures that the first party will bear no losses if the counterparty does not do the job. The party itself pays 20%, guaranteeing to the counterparty that the party will not dispute the deal regardless of its result. This ratio (80% to 20%) is not mandatory and may vary. Moreover, the counterparty can make an additional deposit as an immediate guarantee of a high-quality result. In this case, the party may pay for dispute proceedings. The counterparties are residents of two distant countries representing large companies who wish to execute a deal, e.g. goods delivery. However, they understand that if something goes wrong, fees for litigation in the other country will be significant. In this case, a deal with classic dispute resolution is not worth the risk.  Payment prolongation and warranty cases. Imagine that you want to buy a TV: you find a seller, buy the TV and bring it home. Everything seems fine, but it stops working a week later and the seller has already disappeared or directs you to a repair shop. Use of the Jury.Online platform would force the seller to be interested in resolving such a case. Money can be transferred after the product has been delivered and used for some time, or any other work can be paid for after proper testing and examination. The payment can be divided into parts, with the next part coming only after the previous obligation has been fulfilled. Jobs for experts. There are many highly qualified, diverse specialists all around the world who have skills, experience and a personal point of view concerning fieldspecific questions that are outside the competence of regular jurors. Thousands of these experts are currently unemployed and have no chance to take part in dispute regulation and be paid for their work, although they are knowledgeable enough in the topics handled in courts. Jury.Online helps people earn money with their knowledge, competence, skills, experience and independence of mind.
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