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Kleros 2.0 & Decentralized Arbitration in Web3 with Federico Ast

Analyse Asia with Bernard Leong

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What Is the Difference Between Traditional Arbitration and Cleros?

In the traditional arbitration world, you have some profession of people who are called arbitrators. This is okay for multimillion dollar disputes but not low value claims like freelancing jobs or a YouTube video. Cleros uses economics and game theory in order to incentivize any user from different locations to resolve these types of claims. The token is called Pinaki on the PMK, the name comes from the ancient ancient Athenian token that the Athenians just to use for being drawn - trust means randomness.

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