Kleros’ approach to arbitration is radically different to traditional court systems and alternative dispute resolution methods. Relying on cryptoeconomics, it provides crowdsourced jurors the incentive to arbitrate on various types of disputes.
The goal is to bring fast, affordable and secure resolution to a number of disputes native of the Internet Age.
Kleros promises to transform the field of dispute resolution in a way similar to how Wikipedia revolutionized encyclopedia publishing. Back then, few people expected that an encyclopedia written by anonymous people on the Internet could compete with traditional encyclopedias. Nevertheless, Wikipedia ultimately triumphed and forced Microsoft to shut down its paid product Encarta. It also brought the end to the venerable Britannica, 242 years after the first edition.
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