Jury.Online (JOT) – The Place for Responsible ICOs (ICO REVIEW)

Jury.online promises to be the future of dispute resolution. Find out how it works today in our review.

What Is Jury.Online?

Jury.online is a dispute resolution platform built on blockchain technology. The company’s pre-ICO starts in late October, with a general crowdsale taking place throughout November for JOT tokens.

Like other dispute resolution platforms, Jury.online is built with a simple goal in mind: it helps two disagreeing parties reach an agreement that’s acceptable to both sides.

To do that, Jury.online uses smart contract technology and a panel of independent jurors. Those jurors participate in the dispute resolution process, make a decision regarding the dispute, and that decision is recorded on the blockchain. The outcome is executed by the smart contract.

How Does Jury.Online Work?

Jury.online uses smart contract to create a better dispute resolution system. The Jury.online smart contract is blockchain agnostic. The system is based on an open source protocol that can integrate with any blockchain’s smart contracts.

With Jury.online, parties agree on the terms of the deal. Then, that deal is placed into the blockchain in the form of a smart contract. That smart contract stores the money as cryptocurrency.

After the deal is successfully executed, the money is transferred to the recipient. If the parties have a dispute, their deal is revised by a panel of field expert jurors who make the final decision by a majority vote.

Jurors never know the verdicts of other jurors – so there’s no risk of them siding with a perceived majority. Economic and rating motivation systems force judges to investigate and resolve disputes fairly and correctly instead of just randomly passing verdicts to quickly earn tokens.

Jurors can also set a price for which they are ready to work. Counterparties know in advance how much a potential dispute would cost, then can accurately estimate their risks based on those costs.

Counterparties can also pick out jurors that specialize in the specific field relevant to the deal.

Instead of being a standalone platform, Jury.online aims to integrate with major marketplaces online, including online stores and freelance platforms. Jury.online will integrate with these platforms to provide better dispute resolution.

The technical infrastructure of Jury.Online systematizes the relationship between project and investor and puts the expertise of highly professional specialists in finance, law, IT and blockchain at the disposal of both sides. So potential problems due to misunderstanding between the parties during project implementation are minimized or eliminated.

Investing always carries the risk that the project may not live up to its development plan, and every project is exposed to the risk that an investor will fail to provide agreed financing at a crucial development stage.

The experts of Jury.Online act as a third, independent party in the relationship between project and investor. In the first place, they help to design a balanced "investment roadmap", where each step forward in project implementation entails receipt of a portion of the total investment. So every new achievement of the project has its own price agreed in advance.
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The agreed stages of project implementation, tied to specific events, are set out in a smart contract, based on which the investor deposits the entire amount of investments in ETH currency and the project deposits the respective number of tokens.

The project records completion of each stage and the investor and Jury.Online experts receive notification. Everything necessary to verify completion of the stage (technical, legal, financial and other documentation, statistical calculations, program codes, access to alpha/beta versions, databases, etc.) is stored in a closed part of the Jury.Online platform. The investor studies this information to obtain assurance that the stage has indeed been completed. A part of the sum in ETH is then automatically supplied to the project, and the corresponding number of tokens is supplied to the investor. The project proceeds to the next stage.

What happens if the investor does not verify a stage of project implementation? Jury.Online experts are automatically notified and immediately apply their skill to resolve the situation. If the parties cannot reach a consensus or do not want to negotiate, the experts act as arbitrators. They study all the materials provided, analyze their integrity, quality and agreement with the commitments assumed by the project. Each arbitrator makes his/her own judgment on the case and the final verdict is delivered by a majority of votes. The consequences of this verdict are:

Return to the investor of the funds deposited for this stage; or
Transfer of the appropriate portion of the investment sum to the project, if the stage has been completed satisfactorily; or
Termination of the smart contract (if this possibility is stipulated by its terms and conditions) and return of the unused investments to the investor.

Uses For Jury.Online

Some of the potential uses for Jury.online include all of the following:

Escrow: Money is stored on a smart contract balance, with users having complete control of the transfer.
Customer Protection: Protected collateral in cryptocurrency ensures customers have unforgeable security.
Milestone Payments: Jury.online allows for the creation of complex deals where payments are broken into several instalments – say, for different stages of the project.
Dispute Resolution: Jurors have expertise in different fields so they can find out who is right and who is wrong.
International Business: Make deals worldwide in a secure way.
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Jury.Online Features

Jury.online emphasizes all of the following features:

Blockchain-Agnostic:
Jury.online is an open source protocol that can be implemented into any blockchain with smart contract. The protocol works independently of any underlying blockchain technology.

Fair Trial And Anti-Corruption System:
Jury.online incorporates a range of anti-corruption systems. Jurors never know the verdict of other jurors – so they won’t be influenced by the decisions of others. Jurors also have a reputation system and economic incentives, which means they’re encouraged to investigate disputes fairly and correctly instead of randomly passing verdicts.

Jury Marketplace:
Jury.online creates a marketplace for jurors. Jurors can set their price and connect with people who need dispute resolution specialists.

Security:
Jury.online is based on a decentralized and secure operation built on blockchain technology.

Customized Judging:
Counterparties can pick jurors out of a pool that specializes in the specific field relevant to the deal.

Integration:
Jury.online offers easy connections with third parties, including online stores and freelance platforms.

The Jury.Online Crowdsale

The pre-ICO for JOT tokens begins on October 23 at 14:00 UTC, and lasts until November 3, 2017. A crowdsale will take place soon afterwards.

During the pre-ICO, you can purchase JOT tokens at a 30% discount (1 ETH = 300 JOT). There’s a minimum purchase amount during the crowdsale of 500 JOT.

There’s a total maximum supply of 30 million JOT tokens, with 20% of all tokens (4.2 million JOT) available during the pre-sale.

A total supply of 21 million JOT is available to the public, with 9 million JOT reserved for the creators of Jury.online.20% goes to the Jury.online online team, and will be blocked for 6 months. After that lockup period, 10% of the total amount blocked will be unblocked every month. An additional 7% will go to advisors and bounty programs and 3% as a stock of liquidity.

Who’s Behind Jury.Online?

Jury.online is led by founder and main developer Alexander Shevtsov and CTO Konstantin Kudriavtsev.

The idea for Jury.online first emerged in June 2017. By January, they aim to release their technical whitepaper, with a web version of Jury.online scheduled for release in March. In April and May, they plan to release the Android and iOS apps. By the end of 2018, they hope to integrate the platform with third party services.

What Problems Does Jury.Online Seek To Solve?

Jury.online seeks to solve a number of problems with the modern litigation and dispute resolution industry, including:

High Prices:
Professional legal services are expensive, and preliminary consultations can cost hundreds of dollars, while lawyer’s fees for civil suits can cost thousands.

Lengthy Proceedings:
It can take several court sessions at intervals of 1 to 2 months to solve a case.

Lengthy Judgement Execution:
Even if a judgement is delivered, it can take time to execute that judgment and have it carried out by third parties. During this time, the losing party could abscond or declare bankruptcy, or fail to fulfill its obligations in other ways.

High Entry Requirements:
Only big cases are heard in courts, and most people aren’t willing to start serious litigation over small issues – like poor customer service or inadequate delivery of a product or service.

Jurisdictions, bias, political engagements, complexity, and lack of choice are also identified as problems with modern dispute resolution. Overall, Jury.online aims to solve these problems by democratizing dispute resolution.

ICO details

The pre-ICO sale date for Jury.Online is set for October 23, 2017, and will run till November 3, 2017, after which the regular sale will continue from November 13, 2017 to December 13, 2017.

The maximum number of JOT to be distributed is 30 million and buyers can get JOT during the pre-sale at 30% discount – 300 JOT for 1 Ether.

In the regular sale, 1 Ether will get you 210 JOT at the start. You can also buy JOT with BTC and fiat, but the total tokens up for sale will only be 70%. Out of the remaining, 20% will go to the Jury.Online team (time blocked for a total of 16 months with periodic unlocks), 7% to the advisors and 3% will be kept as liquidity stock.

Jury.Online’s ICO isn’t far now and the amount of funding they will be able to raise should be a decent indicator of investor interest in innovative blockchain-powered solutions to common problems.

Jury.Online Conclusion

Jury.online aims to democratize the world of dispute resolution by introducing a blockchain-based dispute resolution platform. That platform makes it easy for anyone to enter into a smart contract-based agreement with another party. If the business transaction is completed successfully, then Jury.online’s dispute resolution mechanism never comes into play. If there’s a disagreement between the two parties, however, then a selection of jurors will move into action. Those jurors will determine the outcome of the dispute.

Team

Michael Greenberg

The founder of Finance Magnates, Michael Greenberg has proven himself as a success in the entrepreneurial world, taking a pivot later on towards blockchain and crypto related projects. He has advised for two other ICO’s, and will be filling the same role for Jury Online.

Marina Kobyakova

Marina has good work experience, listing Thomson Reuters on her LinkedIn as well as UpDK. For Jury Online, Marina will be serving as the business development lead for the project – helping to establish relations with other businesses and increase use/adoption of their platform.

Roadmap

Oct - Nov 2017

Presale

Jury.Online collected 1552 ETH

Feb - Mar 2018

Jury.Online ICO
Minimum cap is 3 mln $, maximum cap is 6 mln $

Apr - Jun 2018

Listing On Exchanges

After successful ICO we will be listed on a number of exchanges including but not limited to IDEX, Binance, Okex, YoBIT and Etherdelta

Apr - Jun 2018

Non-Linear Milestone Funds Distribution With Weights. Platform Design (UI/UX)

Implementation of funds distribution in linear milestones system according to the weights of the milestones’ goals with manual and automatic customization. Investors and projects will have the possibility to adjust the weights in funding and token distribution to customize personal InvestContracts. This will require a significant rebuild of existing smart contracts. UI and UX platform design and implementation of the Project, Arbiter, Investor profiles and Project marketplace.

Jun - Sep 2018

Milestone Postpone And Reorganization Implementation As An Optional Feature. Implementation Of The Templates To The Platform Dashboard. Attraction Of Projects To The Platform.

At the early stage of development, it’s hard to predict if all parts of functionality will remain viable and relevant in 3 or 6 months. Thus the option to reorganize and postpone milestones by mutual consent will be demanded. The platform dashboard will have the opportunity to automatically reflect any number of the simultaneous Projects setting the first stage of Project Marketplace implementation. Jury.Online will bring in at least 3 new Projects undergoing ICO in the nearest future who will be among the first partners of Jury.Online.

Sep - Dec 2018

Research And Conceptual Design Of Non-Linear And Branched Weighted Milestones, Gain Of Relevant Experience.Secure Communication Between Investor And Project. Marketing Of The Project. Staffing.

Initially, projects create linear roadmaps with every milestone being unlocked once the previous one is completed. This method doesn’t fit all projects, some of them need a more complex way of organizing milestones. For example, a project may present several steps (“levels”) with a number of milestones at each level and investors can choose one (or more) milestone from each level. Another possibility upon finishing a milestone, there are several options to be the next one each one having its weight of Token or Fund distribution set by mutual consent between an Investor and a Project in each single InvestContract. Jury.Online task is to analyze the relevant experience of the clients and partners and set the conceptual draft of this feature’ latter implementation. We will also implement secure channel of communication for better understanding of the mutual needs before investment stage. We will establish long-term relationships with a number of cryptoexchanges, marketing agencies, listing and rating companies for our partners to get the full advantage of Jury.Online platform. According to the research work Jury.Online will increase its staff by high-level professionals for better implementation of this feature.

Dec 2018 - Mar 2019

Implementation Of The Complex And Branched Milestone Funds Distribution With Weights. Automated Multilingual Support Of Arbiters’ Communication.

Basic functionality distributes investments proportionally to the milestones’ goals, but usually, investors are interested in some development stages more than in others. For example, one may want to have libraries for the most popular programming languages for product usage, while others may wish to have an appealing website which will attract customers. We want to give Investors more control and communication with Projects to have more options for all parties of InvestContract. Branched and complex weighted milestones will have more impact on further development and bring more responsibility to the Projects setting new standards of the ICO approach. We will add automated multilingual support of arbiters’ communication for Investors and Projects by implementing API of one of the global suppliers of CAT services.

Mar - Jun 2019

Various Cryptocurrencies. Adding Premium Features To The Platform.

Basic functionality can be used only with ETH investments, additional exchange module is going to be implemented for other cryptocurrencies including various ERC20 tokens. We will add a premium selection of the Projects, an independent rating system for them and a Project roadmap assessment.

Jun - Sep 2019

Pools Of Arbiters. Adding Possibility To Set Own Pricing For Arbitration. Adding Pools Of Arbiters Of Third-Party Organizations. Ratings Of The Pools. Expert Advisory Board. Appeal System. Pools’ Categorization.

Development of responsible ICO naturally leads to the implementing the general concept which can be used for deals of any subject. During the operation of responsible ICO Jury.Online stores a database of arbiters with their specializations which later will be utilized for dispute resolution of general-purpose deals. We will arrange a number of pools of Arbiters of third-party organizations representing real business and famous organizations to enhance Arbiters’ selection during ICOs. The rating system of the pools will be implemented together with pools categorization for better and more convenient approach to the investing via the platform. Experience of the previous month will help to develop appeal system that will be applicable for all types of controversial situations that may arise between Investor and Arbiter or Project and Arbiter.