Bizshake
When running any business, it is common that there are disputes that arise. Bizshake has considered the possibility of conflicts arising. Bizshake has adopted what is the new frontier of sharing business models. In this model, the company is not involved in running the business or solving disputes. The company aims to ensure smooth running as the bizshake community shares assets. In the case of conflicts, here are the three stages of resolving dispute
Stage 1
The first stage will allow the user that has raised the debate to provide their reasoning. In the place of offeringargument, the users who has grown the dispute is given a platform to provide an equivalent compensation or a penalty for the opposing party. In the cases of a sentence, there are fixed options like when the opposite party fails to meet the deadlines or any other unexpected occurences. In other cases, the penalty can always be chosen by the user depending on the fee percentage. Such occurrences may include when the asset is returned when it is partially damaged. A message is the offered to the opposing party regarding the penalty. It is upon the opposing party to accept or counter the penalty within a given deadline. This deadline is provided by bizshake smart contract.
Stage 2
When there is no agreement that they come into after two rounds of offer, each dispute can be able to escalate a disagreement. In such case the involved parties need to produce their arguments that need to be back up with all necessary documentation.to constitute a case file. The case file should be formed within the deadline that bizshare smart contract has set. The case file is then forwarded to the panel of arbitrators. The panel of arbitrators is composed of 5users that have the highest ranked credibility. For equality, this arbitrators are selected by the smart contract therefore no sides are taken. Arbiters will then evaluate the documents provided and emit a verdict based on the documentation. The conclusion is inform of a penalty as a percentage of the amount claimed by the user. There is a given formula to which the final judgment is calculated. Afterwards, each judge will receive, score and review the result and motivation of other authorities. The score is scaled from 0-5 which include entirely appropriate to totally inappropriate. Smart contract will then consider the reputation of the administration based on the vote score after three disputes. If the average of the three differences is less than 3.5, the authority is no longer qualified to be part of the arbitration.
Stage 3
Smart contract will then transfer the compensation that the judge have come to a conclusion over. Penalty is taken from the deposits locked in the lessee’s wallet to the lessor and unlock the remaining deposits. In case the compensation is higher than the available balance, the amount still has to be transacted. The extra value is given a time limit in which the party has to pay. In case after the deadline the amount is not paid, then the party is considered a debtor and all the activities of bizshare will be frozen until the debt is paid
Disputes are not rare whenever you are running any business. However, bizshare has come with a decentralised way of solving disputes fast and effectively.
Website Link: https://www.bizshake.io
Telegram Link : https://t.me/bizshake
Whitepaper Link : https://www.bizshake.io/sites/default/files/BizShake_Whitepaper_1.2_ENG_0.pdf
Facebook Link: https://www.facebook.com/bizshake
Twitter Link : https://twitter.com/bizshake_ico
My Bitcointalk Username : ariaemily
My Bitcointalk Profile Link : https://bitcointalk.org/index.php?action=profile;u=1434888
ETH address : 0xde404aDd3Ed4f199fFA88b7350c0Af27D7035151