Kleros, a decentralized “dispute resolution layer” has announced a partnership with MARKET Protocol, a company building a platform for decentralized derivatives markets. The two companies say they will provide a completely decentralized trading and dispute resolution technology platform for secure and trustless transactions. Kleros says its dispute resolution technology can be used to arbitrate all kinds of disputes in industries such as e-commerce, finance and insurance.
Federico Ast, CEO of Kleros, calls their arbitration service a perfect application for Market Protocol.
“As in other critical use cases such as e-commerce and payments, this is another step for our protocol to build the dispute resolution infrastructure for the global decentralized economy to operate smoothly and securely”.
MARKET Protocol claims to be powering safe, solvent & derivative trading of any asset. Contracts are said to be guaranteed solvent without counter-party risk. Users may trade cross-chain, off-chain or on-chain relationships, such as Monero / ETH or APPL / stablecoin using ERC20 assets as collateral while remaining on the Ethereum blockchain.
Seth Rubin, CEO and co-founder of MARKET Protocol, says they are guaranteed to have issues from time to time from either bad or malicious data. By working with Kleros they can provide “a robust dispute resolution mechanism.”