Kleros, a dispute resolution layer for the decentralized web, has announced details of its token sale. The event will mark one of the first cases of an interactive initial coin offering (IICO), designed to provide a fairer and more transparent crowdfunding model. Inspired by a system of Greek democracy, Kleros is a dispute resolution layer for the internet era. Its use cases include escrow, insurance, e-commerce, and crowdfunding.
Kleros will use crowdsourced jurors to assess the merits of a case, consider the evidence and reach a fair decision. In return, they will be rewarded in the form of Pinakion (PNK), the native Kleros token. Kleros, which means ‘chance’ in Greek, is related to the word ‘kleroterion’, a randomization device used to ensure democratic process in Ancient Greece. The Pinakion token gets its name from the identification plaques engraved with the names of jurors that were drawn from the stone-carved kleroterion.
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