BANKEX has launched its new product, called Smart Justice on the Ethereum blockchain. It is a platform, designed to facilitate dispute resolution and arbitration of smart contracts. Anyone, holding voting tokens, can become a judge and vote.
Contents:
- Description of the ETH project Smart Justice
- How to become a dapp solution maker?
- Blockchain voting
- Additionally about the dapp application
Description of the ETH project Smart Justice
Many people are hesitant to conduct transactions on the blockchain due to concerns about the human factor risks. Even though the blockchain is decentralized and secured, there is no systemic guarantee that transactions will be performed properly by both parties to the transaction. The terms of delivery, quality and other parameters of the services, included in the smart contract, however, depend on human actors to complete them.
BANKEX — an Ethereum-based service that launched the ICO. The idea of the project - to provide tokenization of real assets, which could be sold or held by investors subsequently. Real estate is a prime example. In the event that the employer is glad with the contractor's work or the contractor did not complete the work at all, the employer could use BANKEX's Smart Justice system theoretically to sue the contractor effectively.
BANKEX Smart Justice - a blockchain dispute resolution service that allows you to seek redress for blockchain-based transactions that do not turn out to be as expected. Since their reputation is at stake, parties that, for whatever reason, have not fulfilled their obligations, have an interest in making damages for errors or in fulfilling contracts as originally agreed. This restores confidence in the system and faith in humanity.
How to become a dapp solution maker?
Smart Justice is driven by a community of decision makers who are randomly selected to review contract information. Decision makers are compensated for their contributions to Smart Justice when their vote resolves a dispute. To become a decision maker, the user with an Ethereum wallet needs to register with Smart Justice. The registered decision maker needs to buy vote tokens. One vote token gives a person the right to vote for the applicant or respondent in one case. If the decision-maker's vote is in the majority he or she will be compensated by the Applicant.
To do this, the registered decision maker must:
- Go to My Resolutions.
- Press Buy Tokens.
The overlay page contains information about the current processes in the service. After the purchase of Vote tokens is ready through MetaMask (2 in the picture), the vote tokens will go to your wallet.
Voting
Registered decision makers will be randomly assigned to the case to evaluate information about the original smart contract, the claim, made by the Complainant, and the response, made by the Respondent. Decision-makers have only a limited window to vote for the applicant or respondent.
To vote, decision-makers must:
| 1 | Go to the My Resolutions page and open the Open Cases panel, which contains a list of all cases during the session, awaiting a vote from the decision makers. |
| 2 | The decision makers need to click the Make a Decision button to open the details of the specific case to which they have been assigned. |
| 3 | After reviewing the case materials, the decision maker can vote for the applicant or the respondent by clicking the appropriate button at the bottom of the page. |
After the end of the voting period, the results are collected, analyzed and the award decision becomes open to all users. If there were enough votes to make a decision, the case will be closed and all parties will be notified. The winning party's name will be posted on the recent case register on the Smart Justice Home page.
Additionally about the dapp application
At the moment, White Paper and RoadMap are not available on the site. However, the developers provide a large section with a description of the project and rules of work.
Also, the community hosts many social networks. Among which:
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