A researcher team in Japan has designed a blockchain-based digital court to settle the legal matters in a cheaper, faster and more effective way, an official announced on April 06, 2020.
This project has been created by Professor Hitoshi Matsushima from the University of Tokyo and Shunya Noda from the University of British Columbia, and its goal is to resolve the legal dispute in the cheapest way.
Most Stages Appear Away From Blockchain
The University of Tokyo, while making the announcement mentioned that the digital court project could be considered as an extension for smart contracts, as it also does not requires centralized administration. Further, it has been asserted that most stages of the system have been designed away from the blockchain, which is only needed at the time of maintaining the records of the parties that are involved in the dispute.
Professor Matsushima discussed the designing details of the mechanism while making the announcement and said,
“On suspected violation of some agreement, those involved post their opinions to this digital court. The court algorithmically aggregates the parties’ opinions and judges who violated their agreement. If the digital court judges that a party violated the agreement, the party is fined by withholding a deposit made during the initial agreement.”
Decentralized Nature Of Court Might Become Reason For Bad Press
According to the researchers, the key factor of the technology i.e., the decentralized nature, is the reason it (technology) has received bad press. This has generated concern among researchers, as they feel the digital court would also face the same issue with its mechanism.
Matsushima responded to the concerns of the researchers and said that blockchain is like a double-edged sword, but that doesn’t mean people should start fearing it. He added that blockchain is the dawn of the new economic paradigm and despite ignoring it, people should accept and learn more about it.
A report suggests that in February 2020, Aragon Court also introduced a decentralized online court, with an aim to remove traditional artificial barriers, while resolving the issue.
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