Review of Jur: BB — Stable Outlook and Moderate Risk
TokenInsight has recently published the rating report for Jur, which has received a project rating of BB with a stable outlook.
❔What is Jur:
Jur is a blockchain-based ecosystem providing revolutionary trust solution in legal and justice industry in any business-related circumstances.
Jur’s unique set of tools enable anyone to create contracts and resolve disputes online, in a fast, easy, affordable and incorruptible way.
Jur's legal ecosystem is made by the Jur Editor for crafting smart legal contracts, 3 online dispute resolution mechanisms called the Open Layer, the Community Layer and the Court Layer to resolve any kind of dispute arising between business parties in an easy and affordable way; and the Jur Marketplace, an entire legal contract-template store for regulating business relationships of all kind.
Key Points:
✅ The current legal system faces high costs and low efficiency problems that will only become more serious as the industry grows in complexity. The Jur ecosystem is dedicated towards establishing new “Internet of Contracts” by using blockchain technology to create a parallel option to the current legal system; this is named the Jurisdictions platform.
✅ The Jur ecosystem is composed of a contract service platform and a resolution platform. The contract service platform enables users to draft and sign legal smart contracts, whereas the resolution platform provides a three-tiered system for settlements based on the reparation involved in disputes, ensuring the mechanism’s fairness.
✅Jur’s three tiered-system applies to traditional paper contracts, electronic contracts and smart contracts based on traditional industry.. This compatibility ensures that Jur’s ecosystem can effectively integrate with the existing legal system.
✅ Jur’s potential users live under legal systems and are familiar with the rule of law. The biggest challenge that Jur is facing at present is how to attract initial users to its ecosystem.
✅ Jur faces competition from existing platforms for online electronic contract drafting and signing. Jur’s competitors have existed and operated stably for many years and thus already have considerable user bases.
✅ Team managers are well-equipped, subject to detailed division of work, and have rich experience in various fields.
✅Core members of the Jur team come from elite programming and legal backgrounds. Jur’s partners and external consultants are also very capable and strategic for the project’s success.
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