WeGotcha's Arbitration & Insurance Protocol

“Whoever controls the courts, controls the state” - Aristotle

Unlike centralized sharing economy platforms like Airbnb and Uber, a decentralized sharing economy marketplace doesn’t have its own dedicated support team taking care of dispute resolution in the marketplace. Many disputes can be handled by the system itself through various laid out procedures and smart contracts, but then again disputes will definitely arise which would require human intervention. For instance, users of decentralized ride-sharing platform will claim that drivers took a wrong turn which costed them more, guests in a decentralized home-sharing platform will claim that the rented house was not “as shown in the pictures” and so on.

Smart contracts are smart enough to automatically execute as programmed, but not to render subjective judgments or to include elements from outside the blockchain. Existing dispute resolution technologies are too slow, too expensive and too unreliable for a decentralized sharing economy operating in real time.