UNION & Kleros Partner for Third-Party Arbitration Protocol
The partnership that has been announced between UNION and Kleros is an important development in the domain of blockchain technology as it aims to bring more transparency and authenticity to the system. Kleros is a well-known name in the segment of the adjudicating protocol, and it’ll build a new claim manager smart contract for handling issues on the UNION platform.
The addition of this new adjudication mechanism is expected to benefits in both the short term and long term. While the claim challenging and redressal process of UNION will accelerate in the near future, the long-term benefit will manifest in the addition of an extra layer of arbitration from the house of Kleros.
The coming together will help Kleros realize its mission of providing fair and transparent linkages in the digital ecosystem. UNION has already been doing great work in the field of open finance, and with help and support from Kleros, users are expected to benefit tremendously from this association.
The mechanism behind the adjudicating protocol of Kleros is based on crowdsourcing procedure. The system invented by the organization help in the arbitration cutting across segments including freelancing, e-commerce, decentralized finance, and intellectual property rights.
In the initial stage of collaboration, the protocol designed by the Kleros will be integrated into the UNION’s platform. This integration will act as a third-party arbitration that will offer users a streamlined system of resolution through the claim manager.
This association is also critical for the UNION as it will accelerate the company’s efforts to enhance the scope and reach of its products among the target market. Users on the UNION platform get extra assurance about the system’s transparency and authenticity as it will work without any bias. On a larger scale, this surety will prove instrumental in widening the adoption of blockchain products among a wider group of prospective customers.