- Q. What is the difference between the Open Layer and the Community Layer?A.
In the Open Layer, any JUR token holder can access and vote on a dispute, but in the Community Layer, only members of the selected community can access and vote on the dispute. Parties can select communities which are expert in the specific contract’s subject and get a quality resolution.
- Q. What is a cost of solving a dispute in the Community Layer?A.
Each Community sets its own fee defined when the Community Admin creates the community. Before assigning a dispute to a Community check its rules and fees.
- Q. Can anyone open a Community?A.
Yes. Any JUR token holder can create a community in Jur’s Community Layer and start accepting disputes and charge a fee for solving them. Our suggestion is to create a vertical community which highly specializes in a specific subject.
- Q. What is a Community?A.
A Community is a group of people generally aggregated by a common expertise in a specific topic with an interesting of resolving disputes for a fee. This Community is created by a Community Admin who ensures the reputation of the community and sets its rules and principles. Learn more in the Community Layer Annex
- Q. Is the Open Layer a “popular” vote?A.
No. Popular voting system implies that there is a per-capita vote and that everyone can vote. In Jur’s Open Layer only JUR token holders are allowed to vote and they can vote proportionally to their holdings.
- Q. It seems the system can be easily gamed by a whale?A.
Jur’s Open Layer includes a set of economic incentives and disincentives to ensure that dispute’s resolution is fair and quickly done. If a whale stakes its holdings on the unfair outcome there is a huge incentive for small token holders to aggregate and vote on the fair side. To know more about this mechanism check the Open Layer Annex
- Q. How can the Open Layer be free of costs?A.
Jur’s Open Layer is completely free for the party that wins the dispute. If the losing party was the one opening the dispute (by paying 1% of the contract’s value) then the losing party will lose that amount. Rewards for voters successfully supporting the majority will be coming from the tokens staked by voters on the losing party.
- Q. What if I vote on the majority? Will I get a reward?A.
Maybe. Only votes that occur early enough to be instrumental in establishing and maintaining a majority are rewarded. For instance, if the vote is 100.1 to 90 and you vote two tokens for the majority and then someone else votes 11 more tokens for the minority and then voting ends, the final count is 102.1 to 101. The first token that you voted was instrumental in creating the majority and will be matched with a reward token while the other will simply be refunded to you without reward.
- Q. How can I use Jur arbitration?A.
Enter an arbitration clause in your contract and get access to Jur’s Court Layer features. The entire procedure will be run digitally allowing you to finalize the process completely online. We will be releasing the Jur Editor to make the flow even easier.
- Q. Is the arbitrator’s selection incorruptible?A.
Jur’s algorithm to randomly select an arbirtrator is based on the next generated block on the blockchain after the arbitration process is activated. No one can predict the hash of that generated block and this element is included in our algorithm. This means that you can easily audit the selection process at your end.
- Q. Is the arbitration really legally binding in 150 Countries?A.
Yes. Jur’s Court Layer adheres to the New York Convention following its principles entirely. This allows our solution to be legally binding in more than 150 countries in the world.
- Q. How much does the Court Layer cost?A.
Compared to traditional arbitrations Jur’s Court Layer reduces costs by digitalizing the full procedure and making it completely online. Apart from reducing the procedure’s costs, this allows both parties to save time and resources.
- Q. What is a Smart Legal Contract?A.
A Smart Legal Contract is a legal agreement between two or more parties which includes natural language mixed together with code elements and incorruptible logical flows. This allows a contract to contain in itself its enforceability thanks to one of the dispute resolution methods available on Jur’s ecosystem.
- Q. Can I use the Jur Editor for free?A.
The basic platform that Jur makes available to its users is free of costs and you can start creating Smart Legal Contracts from scratch anytime. If you would like to use the ready-made templates available in the Jur Marketplace you should check their fees on a per-template basis.
- Q. What kind of contracts can I create with the Jur Editor?A.
You can make any kind of agreement. There is no limit to the use cases for the Jur Editor. If you are looking for ready-made templates, we will be focusing initially on some common use cases, but you can request a custom template from the network of lawyers and experts working in the Jur’s Marketplace at any time.
- Q. What can I do with the Jur Editor?A.
You can draft contracts from scratch or with a ready-made template, drag and drop clauses that automatically update the legal document, integrate logical flows, include an escrow or attach a dispute resolution method to solve the eventual dispute arising from the contract. To learn more on what you can do check the Jur Editor Annex
- Q. How I will be able to use JUR tokens?A.
All main features within Jur’s products are accessible with the JUR token. You can buy quality ready-made templates crafted by reputable lawyers to create your smart legal contracts, you can vote in disputes in the Open and Community Layer and you can create Communities and Hubs by staking them as an anti-corruption guarantee fund.
- Q. How the JUR token will increase its value?A.
As a company we prefer to focus on our platform and services rather than the token’s price. Our commitment to JUR token holders is to work relentlessly towards growing the Jur’s ecosystem with key partners and to always improve the quality of our products.
- Q. Where I can buy JUR tokens?A.
We are currently in the Private Sale stage. Please apply to be whitelisted and our team will contact you.
- Q. Is the JUR token a security token?A.
No. The JUR token is an hybrid token that allows the usage and payments of Jur’s services. A non-action letter from FINMA recognizes the JUR token as an hybrid token for accessing dispute voting, escrow, anti-corruption funds and payments.
- Q. What is Jur?A.
Jur is a legal ecosystem of products that leverages blockchain technology to make it easier to enter into a business relationship of any scale. Jur makes it easy to draft legal contracts and solve any possible dispute that arises in a fair and affordable way. Jur is on a mission to make the legal world efficient and accessible.
- Q. When did the project start?A.
Jur concept started in August 2017 and the project began effectively in January 2018. Jur started with the objective of leveraging blockchain technology to provide an experimental justice system that could be more efficient than today’s options in terms of costs and time. More specifically Jur started with a focus on the dispute resolution aspect because it seemed to be the most in need of improvements that could be achieved with new technological advancements. Today we can finally say that the Jur ecosystem is covering all the legal aspects of business relationships from the concept of an agreement to its enforcement.
- Q. Which problems is Jur tackling?A.
The main aim of Jur is cut legal expenses and to make justice easily accessible. As the goal is broad, we are currently focusing on making smart legal contracts easy to use for everyone and creating fully digitized procedures for dispute resolution that works for any scale. The main important vision we keep in mind across these objectives is to prevent corruption, ensure transparency throughout all the legal processes that we cover.
- Q. Where is the team located?A.
The Jur team is quite diverse and spread across the globe. We strongly believe in remote working and since our inception we worked in this way. Our team spreads mainly across Europe (Switzerland, Italy, UK), Asia (China, India) and USA. We have two offices, our administrative HQ in Zug and our development HQ in the so called Silicon Valley of India, Bangalore.
- Q. Where are Jur’s headquarters located?A.
Jur AG is a Swiss based company, headquartered in Zug, the well known “Crypto Valley”.
- Q. Who is the team behind the project?A.
The team is composed of people with a mix of entrepreneurial, legal technology, software development, and blockchain technology experience. We also have a Scientific Committee of prominent academics in the field of legal innovation and an advisory board with a track record of proven success in decentralized projects. You can read more about them all at https://jur.io/team
- Q. Is Jur a non-profit? How is Jur supported financially?A.
Jur AG is a for-profit company registered in Zug, Switzerland. Our main goal, as creators and maintainers of the infrastructure, is to ensure the adoption of the token and growth of the ecosystem. The Jur company has a reserve of tokens to support this growth. This means if the utility of the JUR token grows, the value of the reserve will grow. Jur might also integrate small fees to offer cutting-edge interfaces to its architecture, just to be clear you will always be able to access it directly without being charged. These fees will be used to support the growth and development of our products.
- Q. What could Jur be used for?A.
Jur can be used to create contracts with optional escrow accounts for any civil legal agreement (e.g. rental agreements, sale of goods, sale of services etc.). Apart from this Jur has built three dispute resolution methods that can be used separately to solve disputes ranging from microtransactions to big size deals between multinational corporations. The uses cases are vast and diverse as you can imagine but just to name a few: real estate transactions, service transactions, shipping and logistics. If you want to know more about the contract creation part, check out our Jur Editor. If you instead want to have a deeper look into the dispute resolution part you might want to start with our first available product, the Open Layer, and also take a look at our forthcoming legally binding decentralized solution the Court Layer.
- Q. What Jur does that could not be done before?A.
Jur does mainly three things that were not imaginable before. Through our newly theorized Lex Mercatoria we will enable private individuals and/or businesses to create their own jurisdictions with their own set of rules that can create legally binding resolutions. This allows anyone to access an efficient system of justice that is closer to their needs and is also affordable.
Apart from this Jur allows the creation of Smart Legal Contracts without programming knowledge or coding skills. This means that anyone interested (business people, lawyers, etc.) can leverage our solutions to create very powerful agreement that have automated clauses which permits a greater level of trust and transparency in a business relationship. We make the power of smart contracts accessible to everyone.
Lastly our Law Lab together with our partner universities is experimenting new ways of imagining justice in the future. The Open Layer of Jur allows users to resolve disputes for zero cost in as little as 24 hours, extending a dispute resolution option to disputes over small transactions. This system is currently under extensive testing and subject to further academic research.
- Q. Do you provide a specific tool to stabilize the value of the sum deposited in the escrow?A.
Do you provide a specific tool to stabilize the value of the sum deposited in the escrow?
A: The best solution is to accept stable coins in escrow so that the value does not fluctuate according to market dynamics. We are currently evaluating how to integrate stable coins in the Jur ecosystem, but this is for sure a crucial and necessary feature that we are committed to providing.