Cryptocurrency

Spanish Firm Aragon to Open Registration Doors for Aspiring Judges to Settle DAO Disputes

Spain-based reputed startup platform, Aragon has broadcasted the news that it will launch a form for the registration of interested individuals who are aspiring to sign up as judges for the platform. These judges will play a pivotal role in settlement of disputes and the enforcement of contracts between the entities working on the network.

Aragon was formulated with an objective to facilitate the creation and management of a decentralized autonomous organization or DAO, as it is popularly referred to as, while utilizing the tools offered by Ethereum. The piece of news was delivered by Aragon’s developer and CEO, Luis Cuende, during his interaction with James Molins, a correspondent of Breaking News, in the Congress Paralelní of Hackers (HCPP 2019) that was organized in Prague, Czech Republic.

It is a justice system decentralized to resolve disputes in a way that you can have your estate in Aragon, decentralized in the blockchain, and then also have this system with which you can resolve disputes of any kind in your estate. For example, the attacks that arise on the part of the DAO that want to take the treasury out of the funds of the DAO and give it to another DAO, so that people who do not have as many token do not have the right to vote and lose the funds. This type of problem, very common in a scenario where you either purchase tokens and you can be part of a DAO, we solve this system of dispute resolution,

said Luis Cuende.

Where on the one hand, Aragon allows a person to run and manage a decentralized organization by providing aid in fields like accounting, financing, governance, etc., it is also now planning to create a regulatory court that will render to compliance of contracts along with a settlement of conflicts for the DAO.

Luis Cuende further shared his views saying that

And the magic of this jurisdiction decentralized is that there is no violence, this court can not get anyone in jail. There are No prisons. What we can do with incentives crypto-financial is to align so that all the people, in general, have reasons for not doing harm to other people, or, in general, not to damage relationships or existing contracts. But in the end, there is no violence, which it seems to me that is still very much the concept of crypto.

The spearhead confirmed that by December next year, a registration form will be made available for the people who wish to apply for the judges’ designation. By January 2021, the solution will start resolving real cases of disputes. The judges shall be selected by draw, and the parties in dispute will be allowed to select the number of judges who wish to participate in the case proceedings.

The judges who aspire to become a part of a particular case will have to make a deposit in ANT token in lieu of the right to perform the service. Post the case proceedings; the judge will get his/her fees.

Even if you have a dispute resolution system, you don’t want to have to use it; then our model is also fixed much of it, in which the judges have to be paid but not do anything. You need to be there not only for the disputes, but they are there forever, that is what also makes the traditional system of justice isn’t it? Whether or not you cases to judges are paid, because if not they would go,

quoted Luis.

The court is put into action when an interested party counters that a submitted proposal has violated the agreement terms. The disagreeing party needs to deposit an equal amount of collateral as well as the initial fees of dispute decided by the Court of Aragon.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.
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