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Podcast: Epicenter - Learn about Crypto, Blockchain, Ethereum, Bitcoin and Distributed Technologies
Episode: Clement Lessage & Federico Ast: Kleros – Crowdsourced Arbitration for Blockchain Applications
Description: Dispute resolution is the process by which contracting parties settle disagreements. Whether in the form of litigation, arbitration, or other means of mediation, every contract defines a dispute resolution mechanism and jurisdiction. It is the metaphorical Lady Justice, measuring the strength of each party’s arguments, and reaching a decision based on evidence.
Smart contracts are unique in this sense. Unlike traditional contracts, they are rigid and deterministic. Written in computer code, nuances in human language and vagueness of terms do not exist in this realm. There are no judges, no jury, just calculated execution.
Th...