Kleros, a blockchain dispute resolution layer protocol, has officially been accepted into the Thomson Reuters Incubator program. Kleros enables both individuals and businesses to feel secure, safe, and comfortable while conducting transactions online. This is accomplished by using smart contracts to reduce counterparty risk in a wide range of industries including e-commerce, insurance, and finance. Should a dispute arise between the transactional parties, the Kleros’ platform enables the dispute to be resolved through fast, secure and transparent.
“The Incubator Lab is designed for startups within Fintech, RegTech, LegalTech, or NewsTech with whom we see an important or interesting potential alignment for our customers,” as described by Barry Dooney, Strategy and Operations Manager at Thomson Reuters Labs startup incubator. “Companies participating in the program have access to office space, executive mentoring, and access to our data and technology capabilities.”
According to Dr. Federico Ast, Kleros’ Co-founder and CEO, there is no standard procedure parties must adhere to while handling online disputes. “That’s when we knew it was our duty to the overall growth of the ecosystem to create an efficient and affordable dispute resolution layer protocol built on top of the blockchain,” said Clément Lesaege, Kleros’ Co-founder and CTO.
“The entire Kleros team feels incredibly honored to be chosen as only the fifth project accepted in the Incubator Lab’s program,” said Dr. Federico Ast, Kleros’ Co-founder, and CEO. “Thomson Reuters’ capabilities and trajectory in legal and financial industries will help bridge the gap between blockchain and the real world. This is a big step for using the power of smart contracts to solve real-life problems.”
By joining the Thomson Reuters Incubator Lab, Kleros will be gaining access to an incredible wealth of knowledge and resources to support the achievement of its grand vision: democratizing access to justice.