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Breaking from Business Insider: VC Tim Draper Invests $1M in Jur & Contributed on the Token of Decentralised Justice
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An important milestone for Jur and the legal tech industry moving towards decentralisation. Business Insider has just released news on the recent $1M funding round by Draper Associates, tech investor and venture capitalist Tim Draper’s seed-stage firm, on the legal tech startup Jur AG. "Jur's digital courts are the future of decentralized justice. The JUR token will be the token of justice in the new blockchain era" - Tim Draper The JUR token was launched in August 2019 as an Initial Exchange Offering (IEO) on the OceanEx Platform and it is also currently listed on CoinGecko. You can find details about the IEO on the official OceanEx website. In the exclusive interview with Business Insider, Jur's CEO and founder Alessandro Palombo talked about his vision for growth. According to Insider’s legal reporter Yoonji Han, Palombo said the startup has plans to use its fresh $1 million investment from Draper Associates to expand its tech and customer success teams to scale its product. The company also recently made some key senior hires, including a new Chief Operating Officer and Chief Product Officer. This is a validation not only for the Jur team and community but for the entire legal industry as we lead the movement towards decentralised justice. With this funding, Jur will be well on its way to revolutionising the legal tech industry by providing justice at the speed of business. Tim Draper, known to support many tech and blockchain projects, is one of the early investors of successful tech unicorns such as Twitter, Skype, and DocuSign, just to name a few. His investment in Jur is a resounding vote of confidence and affirmation of our potential to innovate the legal industry. This news is a welcome addition to our growing list of milestones such as the collaboration between Jur and the UK government through LawtechUK and Tech Nation, and Jur’s recent participation in MDR LAB's accelerator program. Jur’s online dispute resolution platform was released on 31st March and it is now accepting applications for beta-testers who will help us shape the future of justice. Learn more about it here. More: Main website - jur.ioPrivate Beta Platform - Open JusticeJur MDR legal tech Acceleration programJur LawtechUK SME feasibility studySocial media -TwitterSocial media - LinkedinTelegram community

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Private Beta Launch: Open Justice Online Dispute Resolution Platform
Zug, 31 March 2021 Jur is pleased to announce the immediate release of the private beta version of the Open Justice Platform, the online dispute resolution platform for civil and commercial claims worldwide, in a legally-binding way. Anyone in the world can apply to get early access to the private beta program starting on the 31st of March 2021. Apply for the private beta of the Open Justice Platform. How does it work?  Offering an UNCITRAL-compliant arbitration procedure, the Open Justice Platform brings an efficient justice process to small-medium enterprises and professionals across 168 jurisdictions worldwide. The UNCITRAL model is an international legal framework that ensures the enforceability of the legal decisions. The activation of each procedure on Jur requires either the previous existence of a compatible arbitration clause or an arbitration agreement done between the parties. As a consequence, the result is binding on the parties being an arbitration award. Hence, the Open Justice Platform offers a fully digitised flow which helps arbitrators, lawyers and claimants with dispute resolution procedures anywhere in the world.  Small and medium-sized businesses are able to access a user-friendly arbitration process online. Arbitrators are selected according to their expertise and manage simplified arbitration procedures with an easy-to-use platform that saves precious time and effort. Digital arbitration chambers Operators in the legal sector can create "digital arbitration chambers", also called Hubs, attract dispute cases, and offer administered arbitration procedures that are cost-efficient and qualitative. The Jur expedited arbitration procedure is built to offer a complete arbitral procedure within a customizable range of 30 to 90 days. A key outcome is considerable savings in the management costs typical of arbitration and an extremely rapid procedure. Testing with partners will commence this month.  Depending on user configuration, the platform can manage disputes of up to USD 1M. Over time, Jur will integrate the infrastructure with other platforms and blockchain platforms. In a nutshell The platform supports every phase of the arbitration procedure from A to Z, including:  filing of the claim, notifications of each action and relevant phase of the procedure payment managementdefinition of terms of referencecase management for the arbitrator and for the hubpresentation of pleadinghearings booking, management and recordingadoption of the award, scrutiny, approval and any corrections of the same The procedure is entirely online, integrating secure digital signatures and notifications via certified email. The platform allows, in case of need, the management of the award in physical copy and signed by hand. After testing in a separate environment, the platform will gradually introduce elements of decentralisation and blockchain to provide an enhanced level of transparency, quality and neutrality of the procedure. From micro-claims on blockchain to a user-friendly justice for small and medium businesses As per the new white paper, Jur first released a fully decentralised online dispute resolution (ODR) solution, concerning an innovative product in the blockchain field targeting micro-transactions. The previous product has been tested by a number of institutions, including the prestigious Radboud, Hull and IE universities.  The Online Justice Platform is part of an industry that sees the rise of digital courts as a way to support the backlog of courts. It is estimated that 70% of businesses experience disputes, and existing resolution methods are notoriously time-consuming and costly, often prohibitively so. The cost of dispute resolution for small-medium enterprises is £11.6Billion each year solely in the UK. Although technically arbitration, Jur does not compete with institutions currently operating in the traditional, non-online arbitration sector as well. In fact, arbitration procedures involve disputes of USD 10-50M value. Sometimes there can be smaller disputes in the order of USD1-5M. The primary target of Jur’s platform are disputes with values ranging from USD 10K-1M. There are platforms for supporting arbitration, but they only focus on optimising document management of the arbitral procedures. Future improvements Arbitration is a solution mainly used for high-value disputes, which are often international. Still, arbitration faces problems in terms of guaranteeing the quality of the arbitrators, neutrality of the procedure, and ensuring reputable outcomes.  These problems are now primarily solved thanks to the reputation of particular bodies or arbitrators that work as an element for generating trust. Outside a strict circle of entities and arbitrators, reputation is a concern.  These are currently existing problems which may only worsen in the case of a scaled digital version of arbitration for smaller disputes.  The impact of blockchain technology is inevitable everywhere where "trust" is needed. For this reason, smart-contract based procedures and models are required to solve the aforementioned problems in a better way. Our roadmap includes elements of decentralisation of part of the procedures in order to define a new standard of transparency, quality, and neutrality of digital justice in general and arbitration in particular. The approach with which Jur operates is to focus on product-market fit and, in parallel, separately test advanced blockchain-based features. Only after adequate testing will Jur integrate these features into the main product in order to preserve the legally binding character of the procedure itself. This is a new approach for blockchain startups which we believe is the most sustainable one and will bear the best results in the medium and long term. A brief history of Jur Jur has recently worked with LawtechUK (UK government’s backed initiative powered by Tech Nation to help transform the UK legal sector) and accelerated by MDR LAB's startup program. Jur has been funded in the past by VeChain Foundation, Fenbushi and Rascal Ventures. The new Open Justice Platform is part of Jur’s solutions to foster access to justice and help business and professionals work in a more reliable environment thanks to the digitalisation of traditional procedures. Jur has also released a cryptocurrency, the JUR token, and part of the future releases of the Open Justice Platform features and other products will be based on a blockchain infrastructure, to ensure better security, transparency and reliability.  Jur. World’s multi-jurisdictional dispute resolution platform for small-medium enterprises.  More: Main website - jur.ioPrivate Beta Platform - Open JusticeJur MDR legal tech Acceleration programJur LawtechUK SME feasibility studySocial media -TwitterSocial media - LinkedinTelegram community We have released the private beta of our online dispute resolution platform, the Open Justice. Learn more.
White Paper 3: The Open Justice Platform and the Justice Problem in the Pandemic
The Jur White Paper 3 is the clearest definition of the problem of remote courts and how we intend to solve it. Read the 18-page document, or follow along to know all about the key points to a greater access to justice via a faster online dispute resolution. Download Jur’s new White paper v3 This article is a brief overview of Jur’s new white paper highlighting the developments of the Open Justice Platform, the world’s first multi-jurisdiction ODR and how these unprecedented times showed the need for a better legal solution now more than ever. The Pandemic: Magnifying the Justice Problem COVID-19 has forever changed the way the world works, and it has been a wake-up call for many industries to rethink how they operationalise. The legal sector is no exemption. Courts in many countries were closed, and alternative solutions such as ADRs and arbitral institutions were caught unprepared for remote operation. The pandemic exacerbated the already existing problem of access to justice and highlighted the need for a better solution — a solution Jur is building and excited to release soon this Q1 2021, the Open Justice Platform. Access to Justice: The Main Justice Problem Access to justice has been a long-standing issue in many sectors, including civil and commercial disputes. This table illustrates the existing solutions and the challenges they face: As shown in the table, courts are too slow and expensive in addressing them, and although solutions such as arbitration institutions and ADRs do exist, they still falter in many areas. This is why Jur is building a solution that would address these challenges in the form of the Open Justice Platform. Open Justice Platform: Solution to the Justice Problem The Open Justice Platform (OJP) is Jur’s online dispute resolution platform meant to answer the problem of access to justice. It is an online arbitration platform which has digitised and decentralised the key features of major arbitral institutions using blockchain technology. This enables the OJP to enhance security, create auditable guaranteed neutrality, and combat bias by doing the following: Utilising the Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958, also known as the New York Convention.Operationalising the UNCITRAL Model Law to facilitate the New York Convention’s application.Defining the Online Justice Standard with leading legal professionals around the world.Designing the rules of digital courts (Hubs) and creating customised versions of them to fit the jurisdiction. This is a simplified explanation of how the OJP works. However, this illustrates the mechanism of how it will perfectly address the issues currently faced by the system. With the OJP, small to medium sized disputes with values of up to USD 1 million can be solved quickly and at a fraction of the cost because of the digital aspect of the platform. And unlike existing ODRs, Jur’s Open Justice Platform aims to be available worldwide which means it has more flexible use cases that could help SMEs and professionals. The OJP is set to be released soon and we’re excited to lead the way to shaping the future of legal technology through effective, enforceable, and globally-recognised online dispute resolution. Road to Decentralisation: Steps to Solve the Justice Problem Innovation is often met with resistance, which is why Jur intends to take a progressive approach to ensure effective adoption. This is what we call the Road to Decentralisation. Jur will be parallely and separately developing the main platform and the dApp with decentralised features. With this approach, Jur will be able to quickly develop the platform as it progresses, collect validation better to build better products, and ensure legal compliance. To learn more about the Road to Decentralisation, you may read about it here. On that note, we are excited to share that Jur is focusing on releasing the first private beta version of the Open Justice Platform by Q1 2021. This will allow a thorough testing phase with all interested stakeholders. In Q4 2021, the product will be released publicly for anyone to access or interact with. In Q1 2022, Jur intends to build the dApp that will allow the management of some decentralised aspects of Open Justice Platform. A more detailed roadmap will be illustrated in a dedicated appendix and communicated through Jur’s official channels. Stay tuned for the release of the technical appendixes and for all the updates. Download Jur’s new White paper v3 We are developing the first multi-jurisdiction online dispute resolution platform, the Open Justice Platform. Learn more.