In recent times, different sectors have questioned the operation, mainly in its immediacy, of the Justice. This is not only in Mendozabut globally. Although there are mechanisms that, rushed by the coronavirus pandemic, began to apply technology such as the digitization of files and procedures, the demand for conflict resolution is greater.
This awakened the concern of a economist restless about civic innovation, the application of technologies such as blockchain and artificial intelligence, to generate a platform where conflicts between the parties can be resolved but without the presence of lawyers and where the judges are the users. Can this be possible? Is it reliable? CRYPTOCURRENCY?
Federico Ast He was in Mendoza to give a lecture at the Champagnat University in the Diploma of Digital Law and talked with Mendoza Post and told about the conflict resolution application of which he was co-founder, Clergy.
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First, to understand how to work, you have to figure out what is blockchain. “It is a basically database technology that was born in 2008 in the middle of the mortgage crisis where it proposes a digital money called Bitcoin which was the first cryptocurrency that is money distributed in a database distributed throughout the world where each one has a record of how much there is in each account. Allow a transparent monetary system and this generated a monetary revolution without any world bank to control. “
Starting from this, Ast tell i know january Clergy which he defined as “a blockchain-based justice system” and which is dedicated to resolving small disputes between parties that the judicial system sets aside. In addition, those that are given for products or services between parties that are in different countries. “Two people who have a conflict in two different countries and the amount is small, in a globalized economy and a justice system is needed. That arbitration is using blockchain. Juries are chosen at random and then vote who is right and the winner is paid. People are not going to go to court for a small amount, “he explained.
Although anyone can access Kleros, they must have knowledge of the handling of CRYPTOCURRENCY since everything is handled there. “You need to know how to buy and sell cryptocurrencies, but in a few years anyone will be able to access it.”
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An example of the use of this service is that you can make a contract between people for a service or product and upload (in cryptocurrency) an amount that is then released when the transaction is completed. If it is not fulfilled, a “trial” is held to determine who is the winner.
How is a conflict resolved? The mathematical basis used by the platform is “Game Theory“that studies the choice of the optimal behavior of an individual when the costs and benefits of each option are not fixed in advance, but depend on the choices of other individuals.
Each person, to become a jury, has to make a deposit in cryptocurrency and that is retained until the conflict is resolved. In this way, Ast explained, “Kleros makes sure that he is an honest jury and does not vote at random. If the decision is that of the majority, that jury is paid and receives an honorarium.”
The pandemic and technology
The situation that the world is going through with the coronavirus pandemic led to an important leap to the digital world and Ast commented that “it was a radical change.” “To think that Justice was always a conservative area where lawyers seek not to take risks. Things that we thought would not happen in 15 years, now happen. Like online sessions of Congress. Justice is one of the places where the chip changed and you can do a different, faster, transparent dispute resolution. “
What do I know Federico Ast
He has a doctorate in Business Management at IAE Business School, a student at Singularity University, and defines himself as passionate about civic innovation and the application of technologies such as blockchain and artificial intelligence for the digital transformation of finance, law and finance. governments.
In addition, he teaches the programs “The Blockchain Disruption” and “The Lawyer of the Future” on the digital education platform Coursera.
He is the founder and CEO of Kleros, a blockchain-based project for online dispute resolution. “The blockchain is generally associated with Bitcoin and other cryptocurrencies, but these are only the tip of the iceberg. And this technology, which has its origins in 1991, when Stuart Haber and W. Scott Stornetta described the first work on a chain of cryptographically secured blocks, was not noticeable until 2008, when it became popular with the arrival of bitcoin. But currently its use is being demanded in other commercial applications and an annual growth of 51% is projected by 2022 in several markets, such as financial institutions or the Internet of Things (IoT), according to public MarketWatch, “he explained.