EOS
$5.99 1.44%
EOS · 10w

An EOS Arbitration FAQ Guide

This guide tries to answer frequently asked questions about the present and future of the EOS arbitration process. The answers are mostly based on information presented during a talk by Moti Tabulo, the interim head of the EOS Core Arbitration Forum (ECAF), at a London event on 4 July 2018 organized by "EOS London" (one of the world's largest EOSIO meetup.com groups).

Q: Is there a special reason the acronym "ECAF" was chosen?

A: This acronym was partly chosen because when you write it in reverse, it reads "FACE" (they thought that this was appropriate since ECAF was supposed to be "the nice human face of EOS").

Q: Why does EOS need arbitration?

A: Because problems may arise that need to get resolved, e.g. an issue between a Decentralized Application (DApp) and its users; or an issue between two DApps.

The basic problem is that you can't draft a contract that covers every eventuality. Since humans can't predict the future, every contract is in some ways incomplete. This is even more true when you are dealing with a new technology such as blockchain. This means that when people use a DApp, situations can arise that may be open to interpretation. And when you have different opinions, you can have disputes. So, sooner or later, disputes will occur. The question is how do we resolve these disputes?

In the real (off-blockchain) world, one way to resolve disputes is to go to our local courts. However, it is hard to do this when you are dealing with blockchain because (1) blockchain is operating in a global context; (2) many/most lawyers/judges don't know anything about blockchain, consensus, DApps, etc.

Another way is arbitration. The advantage of arbitration is a single context across multiple jurisdictions. Arbitration reduces friction to doing business as it gives certainty (e.g. if you the developer of an DApp that has users in 50 countries, you don't have to worry about dealing wi...

Continue on cryptoglobe.com
Recent news
EOS +1.44% · trybe.one · 1h

What is Bancor and why it's so important

As the crypto industry grows, more and more coins keep joining the market. Initially, a new project had to create and deploy its own blockchain to introduce a new coin, but as Ethereum appeared and in...
10
EOS +1.44% · trybe.one · 18h

In Defense of Speculation

Definitions Often in discussions with friends, family, and even in the mainstream media, we hear that speculation is an “unproductive” endeavor, that those earning money through speculation are leechi...
EOS +1.44% · trybe.one · 21h

Chintai - EOS leasing coming out of the Jungle?

You might not have heard of Chintai, or if you did, wondered what has happened about it. Actually it was one of the first dapps that was announced to launch on EOS, and it aims to provide us with a to...
18