Jurat makes smart contracts into the business-ready instruments that blockchain commerce needs but which had yet to arrive. With Jurat, smart contracts can be fully autonomous and still preserve the parties’ rights to a judicial remedy in the event of a breach.
This is the missing piece that has eluded the space and impeded widespread commercial adoption of smart contracts.
Jurat also eliminates the need for smart contract drafters to anticipate and code for every possible contingency. Court orders can always conform the contract to the UCC, background business law, and the parties’ intent.
Jurat’s wrapping service allows consumers to add judicial enforcement to the popular coins they already own and use. For example, our wrapped version of USDC has been used in federal court to transfer funds between litigants. The same features can protect users of any coin from theft, fraud, and mistaken payments.
Our wrappers are also a value add option for asset custodians. Their customers can have the benefit of safe custody and still use their wrapped coins in DeFi and staking protocols.
Jurat Smartcoins™ are versatile digital negotiable instruments that provide the benefits of smart contracts off the shelf.
Each holder has the option to fractionalize the coin and add conditions to any subpart, while the underlying obligations are directly enforceable in court.
Smartcoins™ also include automated transfer features that allow for secure hypothecation and rehypothecation which can be conditioned on court orders.
Jurat connectivity for smart contracts opens the door for banks to fully enter the digital asset space, including compliance for DeFi and stablecoins.
Jurat can also protect banks at Layer One. Banks at present are stuck on the sidelines because blockchain “transaction irreversibility” results in a complete loss of their depositors’ funds (and the bank’s own regulatory capital) if a crime or mistake occurs. Jurat solves that problem. It provides a court-authorized method to fix blockchain transactions while still adhering to the basic rules of blockchain immutability. Banks can both fulfill their regulatory duties and protect themselves from risk.
Decentralized organizations must comply with the law just like any other company. But, unlike centralized firms, they lack the control needed to vary their operations to respond to new events. Jurat provides the solution in the form of court-executed smart contract calls.Web3 users can rely on courts to enforce their rights, while the decentralized services themselves can resort to the courts to implement changes and conform to community decisions.
The judicial enforcement layer also protects third parties. For example, it can enjoin infringement of copyrighted materials and business methods. No more copycat coins and unfair methods of competition. DAOs can finally enforce their legal rights and protect their users from fraud.
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