Jury.Online's Concept 18-12-2017
The main goal of Jury.Online is to create an ecosystem for conducting deals on blockchain empowered by smart-contract and third-party arbitration option. The emergence of such platform will be on the top of agenda the nearest future.
Meanwhile, as one of the cases of our protocol implementation, Jury.Online is developing a responsible and secure ICO platform which helps to withstand the current ICO trends. In 2017 more than 600 of various ICOs collected more than 3 bln USD. But there was a fly in ointment: a few projects were fraudulent and disappeared as soon as they got money.
We foresee as there should be a certain set of rules which will lead to more responsible and transparent game. Projects raise funds on our platform through smart-contracts with multistep funds’ release and optional arbitration function according to the detailed roadmap of the project.
Investors and project escrow ETH and tokens on the smart contract and may be released to the both parties during the start of each single step In the project with different rate. Arbiters, who are experts in various areas with public profiles, are called by investors in case there are doubts of results’ inconsistencies and by simple voting they may force money back to investor or let the developers to proceed with the project.
Jury.Online takes 1% fee from invested ETH which does not affect the number of tokens received by investor. Investor can also pay 0.5% fee in JOTs and invest less in ETH preserving the same amount. ~33% of the fee will be distributed between 5 arbiters which are linked to the project or contract.