Cryptarbitration. verb. The process of using distributed ledger technology, crypto-currencies and crypto-contracts to manage counter party risk.
by CryptoSolo March 31, 2018
The process of digitally arbitrating crypto-contract disputes. The process involves utilizing additional party’s to a crypto-contract, whom receive fees from the crypto-contract for their arbitration services. The fees are paid to the cryptarbitrator depending on if the crypto-contract is completed without dispute or if the crypto-contract is being disputed. If the cryptarbitrator has to resolve the crypto-contract, it will receive additional fees for the arbitration and potentially even more fees depending on the specific terms of the crypto-contract itself that is in dispute.
This crypto-contract includes the certified cryptarbitration feature that guarantees that a certified cryptarbitrator will resolve any disputes.
by CryptoYoYo March 29, 2018