This is a guest post by "hatu"
One of the most prominent benefits of blockchain technology is its ability to provide trustless mechanisms. The advancement of this technology, which is cored around smart contracts, provides the key to removing many middlemen services. In all scenarios where middlemen exist (and take fees) simply to ensure that one of the participants in an agreement does not exit with the funds, smart contracts provide the safer, cheaper alternative.
A new project, Jur, is paving the way for settling a multitude of utilities of smart contracts by integrating a jury network into the protocol.
Many blockchain projects have delved into building utilities rooted in smart contracts but most have struggled to build a proper audience for their technological breakthroughs.
Thus, Jur has developed strategies to attract B2B users who can leverage Jur’s technology, thereby allowing Jur to provide benefits to masses by powering the back-end that keeps their interactions secure.
Benefitting from Smart Contracts
Jur provides a protocol for trustless escrows; in case the smart contracts managing the escrow are not sufficient to handle a dispute between the parties that striked the contract, a network of oracles votes on the justifiable winner.
In order to build reach, Jur is providing APIs to the developers that want to integrate this technology.
We currently interact with an internet of information, but we are on the path to acquiring an internet of value as blockchain technology provides the means to twine any interaction with an underlying value.
Jur is providing the means to ensure that value transfer can be done securely, and the protocol provides the means to bring in a consensus-based resolution when necessary.
Developers and businesses who seek to create (or have) a large network of value transfer in the digital spectrum can integrate Jur’s technology through paid APIs.
Plenty of blockchain projects create a protocol land then try to execute its adoption themselves. This is an extremely challenging task as they must attract a userbase, which involves a stress on business operations, while also enhancing the technology. The latter is challenging as it is, but acquiring a userbase with a new blockchain-powered product is difficult as a vast portion of the people are unaware of the benefits.
Jur has the right strategy: it provides business a convenient means to access the technology, without limiting itself as a B2B services.
Jur’s smart contract marketplace will make the technology available to individuals, but its key clientele could easily be built through B2B relations. Jur can build a clientele comprised of functioning businesses that currently rely on a low-security or expensive escrow as it can instead offer them technology that can be integrated into their existing systems while providing lowered costs and more security—two factors every business seeks in a new service.
Wrap-Up: By making its technology accessible to existing businesses, Jur can attract an indirect userbase. It’s technology can serve the masses even if the masses do not directly buy Jur-based contracts. Instead, existing businesses with large user bases can pay for Jur’s technology and offer the benefits to their customers.
💡 Whitepaper: https://jur.io/content/uploads/2018/07/JUR-WhitePaper-v0.3-eng.pdf
👨 ANN Thread: https://bitcointalk.org/index.php?topic=5033562
💻 Telegram: https://t.me/jurcommunity