Decentralized management platform Aragon One has begun onboarding jurors for its decentralized Aragon Court set to be launched in mid-February.
Per Aragon's official website, the company developed a community governed decentralized organization, with the objective of operating as a digital jurisdiction and an online decentralized court.
As of Jan. 7, Aragon Court began letting members convert the network's native token ANT into the ANJ token, which they can stake to earn rewards following the court's launch.
Cuende asserted that there is no need for Aragon Court to come into agreement with relevant authorities, which would authorize it to deliver official judgments like traditional courts within certain jurisdictions, since the project is "Special precisely because it's entirely decentralized and borderless."
Cuende continued saying: "Aragon Court is self-regulated by smart contracts. However, different jurisdictions may treat smart contracts in different ways corresponding to their local regulations, so I recommend getting legal advice in case of doubt."
According to Cuende, Aragon Court had recruited 60 jurors as of press time.
Aragon Court implements a bond system, wherein an individual has to post a bond upon opening a case, which serves as a guarantee for the period of the arbitration process and returned to the individual if the case is settled in favor of the applicant.
"The website designer wants certainty that you cannot take away her work without paying her. So she wants you to put up a bond that can be taken away by the Court if you misbehave."
While Aragon Court claims to be the world's first digital jurisdiction in the making, legal systems around the world have also been experimenting with blockchain and smart contracts.
As of mid-December of last year, China's smart courts were applying a variety of innovative technologies including blockchain and artificial intelligence to decide on millions of legal cases.
Decentralized Aragon Court Now Onboards Jurors to Settle Real Cases
Published on Jan 8, 2020
by Cointele | Published on Coinage
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