The billionaire Investor and Bitcoin supporters Tim Draper has invested a Million dollars in Aragon, a Blockchain-based start-up companies that facilitate the creation and management of DAOs, and the first digital Jurisdiction wants to create.
Aragon wants to demoralize “the Power unobtrusively”, by creating a Blockchain-based court system for the settlement of disputes.
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Tim Draper complements its crypto Portfolio
The legal system could be the next social Institution that stands in front of the Disintermediation by the Blockchain technology. The Blockchain Startup Aragon is the youngest of the crypto-company that has received an investment of legendary Investor Tim Draper.
Aragon is a Blockchain for the creation and management of decentralized Autonomous organizations (DAOs). The company also plans the establishment of the first digital Jurisdiction – all disputes which may arise in a world of decentralized organizations.
Aragon allows participants from all over the world to interact via decentralised organisations share a common goal, to participate in the decision-making and the administration with a voting process to settle disputes in a similar manner as it the court systems currently do.
Tim Draper as a well-known Bitcoin and Blockchain advocates has already taken several headline-grabbing Bitcoin forecasts. Draper has also bought a significant amount of Bitcoin – at an auction of the US government to the seizure of the Dark Web market the Silk Road.
Aragon’s digital court system is now live at the Aragon-Mainnet available. The participants will be able to vote with the ANT-Token of the platform or with DAI, the Stablecoin of MakerDAO. Or, you can act as a jury for the settlement of disputes. The Aragon Team has published a Manifesto, in which it describes its Vision.
People’s courts do not like now – it helps because the Blockchain?
Yaz Khoury, Director of developer relations at ETCCooperative, was used by the Aragonese platform, for example, process – and he is already feeling the legal pressure, even if it is only a simulated dispute.
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Even if the decision is not real and in no way for Khoury binding, so it feels similar to a real court process. Khoury points out that the procedure is a sham process, the Aragon Team, however, plans to use the results as a kind of case law, and to create a digital precedent for similar disputes in the future.
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The participating jurors paid 100 DAI for participation in the mock trial. Of course, Khoury is not pleased and has not asked for Aragon to use its name in their certificate process.